RRSP Plan. The Employer shall provide a Group RRSP matching pension plan. Eligible employees can contribute up to three (3%) per cent of regular earnings which shall be matched by the Employer. RRSP contributions will be made through payroll deduction. Effective January 1, 2022, eligible employees can contribute up to three point five (3.5%) percent of regular earnings, which shall be matched by the Employer. Enrolment in the Group RRSP plan is voluntary. An open period will occur once a year in November. In the event a participating Employee opts out of, or withdraws funds from the RRSP, the Employee shall not be eligible to continue participating in the RRSP and the Employer’s obligations to contribute to the Plan shall cease.
RRSP Plan. All full-time Employees who have completed one (1) year of continuous service are eligible to participate in the Group RRSP. The Employer will match contributions up to a maximum of four percent (4%) of the Employee’s gross bi-weekly payroll and contribute same into a registered retirement savings plan.
RRSP Plan. Section 33.1 - Contributions and Administration Commencing on the first (1st) day of each month the Company shall contribute an amount per month, in accordance with the following schedule, for each employee covered by this Agreement who has been on the payroll for more than thirty (30) calendar days and who has reported for work at least one (1) day in the month unless otherwise specified in the Agreement. The R.R.S.P. Plan shall be administered by a Trust Company or any other agency that is legally entitled to perform such administration in the Province of Ontario. The Company shall supply each employee with an annual accounting of the contributions made on their behalf. Schedule of Contributions to be paid by the Company: Effective October 1, 2008 $555.00 Effective October 1, 2009 $555.00 Effective October 1, 2010 $555.00 RRSP contributions for new entry level employees hired before ratification date (July 17, 2004): These employees are red circled at their current step procedure except the RRSP’s which will go to 100% contribution upon ratification. RRSP’s for employees hired on or after date of ratification (July 17, 2004): 1st year of employment 0% 2nd year of employment 0% 3rd year of employment 0% 4th year of employment 50% of regular contributions 5th year of employment 50% of regular contributions 6th year of employment 75% of regular contributions 7th year of employment 100% of regular contributions
RRSP Plan. Following the establishment of a CUPE Group RRSP Plan, the Board agrees to deduct the monthly contributions from employees authorizing their participation in the plan and to remit those monthly contributions to the designated plan trustee.
RRSP Plan. The current RRSP plan will continue:
RRSP Plan. 48.01 You must have been an employee for one full year on January 1st of the current year in order to be added to the plan. i.e. Hired January 15th 2008 may Join January 1st, 2010.
RRSP Plan. Benefits, terms and conditions of the operation of the RRSP Plan based upon the Company contributions agreed to in the Collective Agreement will be determined by the Union. In addition any future increases in the cost of living allowance (as described in Article 27 of this agreement) will be paid into the Group RRSP until the total of these payments equal thirty ($.30) cents per hour. On July 1, 2004 RRSP contributions will increase by an additional $0.05, and on July 1, 2005 by an additional $0.05, and on July 1, 2006 by an additional $0.05. RRSP contributions will apply as for regular working hours (straight time) for the seven paid holidays during the Christmas shutdown. A one time $2,000 transition bonus will be payable to a seniority employee on his or her retirement at age 65 or retirement at the age as outlined under the early retirement option of the Group RRSP.
RRSP Plan. 18.01 The Employer agrees to contribute five percent (5%) of the base rate for all hours worked which shall be matched by the employee's contribution of one and one half percent (1½%) of the base rate for all hours worked towards each employee's participation in a self directed RRSP Plan administered by the Union.
RRSP Plan. Employees Hired on or after September 30, 2004, upon attaining seniority, be enrolled in a Group RRSP plan. The Company will contribute to the plan, for each individual employee, the following amounts for all compensated hours. Years of Service Per compensated Hour 7-12 years $ 1.50 13-18 years $1.75 18 + $1.85 Employees injured during the course of their work at CSL will have con- tributions made for time for which they received WSIB temporary total disability benefits to a maximum of 40 hours per week for a maximum of 2080 hours for the first year after injury. Money’s contributed to the RRSP cannot be withdrawn until the employ- ee is no longer employed at Central Stampings Ltd. or has retired. Any money contributed to the Plan is immediately vested in the employee. Employees hired on or after Sept. 30, 2004 are not eligible for retiree benefits.
RRSP Plan. 20.01 All permanent employees are eligible for RRSP following successful completion of probation.
