Defined Benefit Pension Plan. Employees in the bargaining unit shall participate in accordance with the eligibility provisions of the CBS Defined Benefit Pension (the “Plan”). The rate at which the employees shall contribute to the Plan shall be as established from time to time in accordance with the terms of the Plan. The rate at which the Employer shall contribute to the Plan is limited to the fixed amount established from time to time in accordance with the terms of the Plan. The parties agree that the Plan is a defined benefit pension plan to which section 14(3) of the Pension Benefits Act, R.S.O. 1990 c. P.8 and section 6(1) of Regulation 909 under the Pension Benefits Act, supra apply. For purposes of clarity the contribution rate of both employees and the Employer are described in the Schedule “B” attached.
Appears in 6 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
