Common use of Voluntary Employee RRSP Contribution Clause in Contracts

Voluntary Employee RRSP Contribution. The Company agrees to participate in the Teamster Local Union 847 Voluntary Group RRSP to the extent of collecting payroll contributions made by employees. The employees will provide the Company with authorization to make deductions from their payroll by way of completing RRSP enrolment form. The Company will collect the enrolment forms for the purpose of capturing the payroll deduction amount and forward the forms and the payroll deductions to the Pension Plan Insurance Carrier or to the Teamsters Local Union 847 Pension Plan administrative agent. The Company will make the payroll deductions from the member’s gross, pre-tax pay. The contributions remittance will be handled in the same manner as the contributions made to the Teamsters Local Union 847 Pension Plan as described in Schedule 2 herein. The Company will be saved harmless of any penalties of any kind that may be levied against the employee in respect of all deductions made pursuant to this Voluntary Employee RRSP Contribution.