Christian Labour Association of Canada Pension Plan Sample Clauses

Christian Labour Association of Canada Pension Plan. The CLAC Pension Plan (“the Plan”), is a defined contribution, registered pension plan, which is registered with the Canada Revenue Agency and the Financial Services Commission of Ontario under #0398594, applies to all employees covered by this Collective Agreement. New employees will join the Plan immediately upon completing six (6) months of employment with the Employer. For each month, the Employer shall remit to the Remittance Processing Centre (RPC), for each eligible employee, an Employer contribution equal to the amount specified in Schedule A. Employer contributions will vest in accordance with the rules of the Plan. The Employer agrees to deduct, by way of payroll deduction, and remit to the RPC, additional voluntary employee pension contributions which are above and beyond those contributions outlined in Schedule A. A request for such deductions shall be submitted to the Employer on a form provided by the Plan and a copy of the completed form shall be sent to the RPC along with the first remittance of such voluntary contributions. The total amount of pension contributions remitted by the Employer, on an employee’s behalf, cannot exceed the annual maximum money purchase outlined by the Canada Revenue Agency. The employer has no obligation to monitor the employee’s contribution made outside the employment relationship. For greater clarity, if the employee exceeds the annual maximum money purchase limit as a result of contributions made outside the employment relationship, the employer shall not be liable for any tax consequence imposed on the employee. The Employer will remit the employees’ and the Employer’s contributions to the RPC within fifteen (15) days following the end of the month for which contributions are payable, together with an itemized list of the employees and the amounts applicable to each. Employer, employee and voluntary contributions will be recorded separately on the remittance. Where legislation prohibits an employee from contributing because of age, an amount equivalent to the contributions in Schedule A will be paid to that employee on each paycheque. This payment in-lieu of pension contributions will not be less than the amount that employee would have received if he/she were still contributing to the Plan. The Union acknowledges and agrees that, other than remitting contributions to the Plan as set out in this Article, the Employer shall not be obligated to contribute toward the cost of pension benefits provided by the Pla...
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Christian Labour Association of Canada Pension Plan. This plan is maintained and administered by the Union and is supervised by a Board of Trustees. Registered with the Canada Customs and Revenue Agency (CCRA) and the Financial Services Commission of Ontario (FSCO) as Pension Plan #0398594, the Plan is designed for the benefit of all employees covered under this Agreement. The Employer shall pay and remit on behalf of each employee performing I.C.I. work, the amount described in Schedule A of this Agreement. The Employer shall pay and remit on behalf of each employee performing Residential work, who has completed two (2) years of service, the amount described in Schedule A of this agreement. Voluntary Pension Contributions The Employer will deduct voluntary pension contributions directly from an employee’s pay and remit that amount to the pension office if authorized by the employee.
Sample 1
Christian Labour Association of Canada Pension Plan. The CLAC Pension Plan (“the Plan”) is a defined contribution, registered pension plan, which is registered with the Canada Revenue Agency and the Financial Services Commission of Ontario under #0398594, applies to all employees covered by this Collective Agreement. New employees will join the Plan immediately upon completing the probationary period of three (3) months of employment with the Employer. For each month, the Employer shall remit to the Remittance Processing Centre (RPC), for each eligible employee, an Employer contribution equal to six and one-half (6.5%) percent of gross earnings. Employer contributions will vest in accordance with the rules of the Plan. Effective November 19, 2017 the Employer contribution rate shall increase to seven (7.0%) percent of gross pay. Effective November 18, 2018 the Employer contribution rate shall increase to seven and one half (7.5%) percent of gross pay. The Employer agrees to deduct one half (0.5%) percent of gross earnings from employee earnings as a mandatory employee pension contribution amount to the Plan, governed by the CLAC Pension Plan Board of Trustees, for each employee, for all hours worked. Effective November 19, 2017 the Employee contribution rate shall increase to one (1%) percent of gross pay. Effective November 18, 2018 the Employee contribution rate shall increase to one and one-half (1.5%) percent of gross pay. The Employer agrees to deduct, by way of payroll deduction, and remit to the RPC, additional voluntary employee pension contributions which are above and beyond those contributions outlined above. A request for such deductions shall be submitted to the Employer on a form provided by the Plan and a copy of the completed form shall be sent to the RPC along with the first remittance of such voluntary contributions. The total amount of pension contributions remitted by the Employer, on an employee’s behalf, cannot exceed the annual maximum money purchase outlined by the Canada Revenue Agency. The employer has no obligation to monitor the employee’s contribution made outside the employment relationship. For greater clarity, if the employee exceeds the annual maximum money purchase limit as a result of contributions made outside the employment relationship, the employer shall not be liable for any tax consequence imposed on the employee. The Employer will remit the employees’ and the Employer’s contributions to the RPC within fifteen (15) days following the end of the month for which contrib...
Sample 1
Christian Labour Association of Canada Pension Plan. The CLAC Pension Plan (the plan), a defined contribution, registered pension plan, which is registered with the Canada Revenue Agency and the Financial Services Commission of Ontario under #0398594, applies to all employees covered by this Collective Agreement. New employees will join the plan immediately upon completion of the probationary period. Each pay period, the Employer shall remit to the Remittance Processing Centre (RPC), for each eligible employee, an Employer contribution as per Schedule
Sample 1

Related to Christian Labour Association of Canada Pension Plan

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