CERI definition
Examples of CERI in a sentence
Other part-time employees will be eligible to join the CERI Pension Plan at any time on and after satisfying the requirements of the Pension Benefits Standards Act, 1985, as amended.
The Employer shall also be required to make matching contributions to the CERI Plan (“Employer Contributions”) equal to each employee’s Member Contributions for each pay period, subject to the combined Member Contributions and Employer Contributions being limited to the maximum amount permitted by the Income Tax Act (Canada), as amended.
SPEA currently administers a registered Defined Contribution (DC) Pension Plan, the Canadian Energy and Related Industries (CERI) Pension Plan.
The CERI Pension Plan is seeking to expand membership to other unions and employers with the goal of expanding the Plan and ultimately, of forming a Target Benefit (TB) Pension Plan.
In other words, the Employer shall contribute in the same manner as it currently does with the CERI Pension Plan.
The employer may, at its discretion, request to include remaining (non-SPEA) Candu employees in the CERI Pension Plan.
As a result, eligible (pursuant to the collective agreement and CAAT Participation Agreement) SPEA- SE members who are currently contributing to the Defined Contribution (DC) Pension Plan administered by SPEA, the Canadian Energy and Related Industries (CERI) Pension Plan or who will be entering the bargaining unit for the first time, will be transitioned to the Colleges of Applied Arts and Technology (CAAT) Pension Plan (“the Plan”).
Participation in the CERI Pension Plan is mandatory for full-time, regular (permanent) part-time or term (greater than six months) employees.
Each employee participating in the CERI Plan shall be required to contribute an amount equal to 9% of eligible pensionable earnings (“Member Contributions”) for each pay period during the term of this Collective Agreement.
If only a part of the Exchangeable Shares represented by any certificate or certificates delivered to the Trustee are to be purchased by WSI under the Exchange Right, a new certificate for the balance of such Exchangeable Shares shall be issued to the holder at the expense of CERI.