Supplementary Plan. The following language will be included in the supplementary plan: “Society members of the OPG Pension Plan, whose pension income as a pensioner will exceed the limits prescribed by the Income Tax Act (ITA) for pension paid from a registered pension plan, are eligible for the Supplementary Payment Schedule (SPS). The SPS tops up the amount one receives from the OPG registered pension plan to the amount one would receive if there were no ITA limits.”
Supplementary Plan. Pension Benefits, based on the benefit formula regardless of the maximum imposed by the Income Tax Act or regulations thereto, are to continue to be paid as supplementary pension benefits to the extent that those benefits exceed the aforementioned income tax maximums.
Supplementary Plan. 1. That an immediate provision of a supplementary pension payable in full at sixty-five (65) years of age, be implemented to provide that the total pension payable from the OMERS and any former pension plan is equal to two (2%) percent of the employee's highest average sixty
Supplementary Plan. Employees with twenty-five (25) years or more of continuous service shall receive the following additional vacation in the calendar year in which they attain: Age 60 Additional one (1) week vacation Age 61 Additional two (2) weeks’ vacation Age 62 Additional three (3) weeks’ vacation Age 63 Additional four (4) weeks’ vacation Age 64 Additional five (5) weeks’ vacation
Supplementary Plan. The following language will be included in the supplementary plan: “Society members of the Kinectrics Pension Plan, whose pension income as a pensioner will exceed the limits prescribed by the Income Tax Act (ITA) for pension paid from a registered pension plan, are eligible for the supplementary pension payment. The supplementary pension payments top up the amount one receives from the Kinectrics registered pension plan to the amount one would receive if there were no ITA limits.”
Supplementary Plan. The following language will be included in the supplementary plan: “Society members of the Bruce Power Pension Plan, whose pension income as a pensioner will exceed the limits prescribed by the Income Tax Act (ITA) for pension paid from a registered pension plan, are eligible for the Supplementary Payment Schedule (SPS). The SPS tops up the amount one receives from the Bruce Power registered pension plan to the amount one would receive if there were no ITA limits.”
Supplementary Plan. Employees with twenty-five years or more of continuous service shall receive the following additional vacation in the calendar year in which they attain: Age Additional one week’s vacation Age Additional two weeks’ vacation Age Additional three weeks’ vacation Age Additional four weeks’ vacation Age Additional five weeks’ vacation three, four, five and/or six weeks are taken at one time they must be taken within the period from September to June Vacations taken during the summer months, June to September will be limited to two weeks, with the third, fourth, and/or sixth weeks to be taken in the period September to June as agreed between the employee and the Company. Necessities of operation must be given full consideration. Each week of vacation pay will be calculated at earnings in the previous calendar year, or forty hours’ pay at the employee’s . regular rate, whichever is the greater. An employee shall receive an additional four regular rate for each week of vacation entitlement taken during the period January 1 to April The Unions agree to cooperate with Management in scheduling vacations in such a manner that maximum production may be maintained. Vacations with pay are intended to enable each employee to enjoy a respite from routine duty with no financial worry to distract from their benefits. Vacations are in no way considered a bonus. The privilege of taking vacations must be confined to permanent employees employed upon standard payroll positions, In drawing up the vacation schedule, the management will endeavour to meet the wishes of the individual employee. It must be understood, however, that the necessities of operation must be given full consideration. In cases where vacation periods requested conflict, preference will be given to the older employees in point of service and within departments. Working on long shifts while men are away on vacation is to be avoided whenever possible. Not later than February of each year, each employee entitled or expected to become entitled to have vacation time off in that vacation year, will be requested to specify in writing, on a form provided by the Company, the vacation period he desires. These forms must be completed and returned to the employee’s xxxxxxx no later than March of each year. Taking vacations is to be compulsory. Vacations cannot be accumulated but must be taken in the year when they are due.
