Common use of Benefits and Pensions Clause in Contracts

Benefits and Pensions. Employees are eligible to participate in the Major Medical Plan, Dental Plan, Group Life Plan, Accidental Death & Dismemberment Plan, Salary Continuance Plan, Long Term Disability Plan, Tuition Assistance and Bursary Plans as summarized below. Employees employed prior to June 30, 2007 are eligible to participate in the Pension Plan for Salaried Employees of McMaster University. Employees employed after June 30, 2007 while not eligible to participate in the pension plan for salaried employees at McMaster University shall be required to contribute directly to a Registered Retirement Savings Plan (group) at the same percentage as employees are contributing to the pension plan, and the Employer will match this contribution. Employees may join the RRSP immediately upon hire and must join by the immediately following July 1. Those employees employed prior to June 30, 2007 who collect a pension immediately on their leaving the Employer or who are eligible for an immediate and unreduced pension at the date they leave continue to participate in the Major Medical, Dental, Group Life Plans, Tuition Assistance and Bursary Plans. They and their eligible dependants who are enrolled in the noted plans at their date of retirement will continue to be eligible for those benefits. Those employees hired after June 30, 2007 are not eligible to receive post-retirement benefits. Limited Term Employees shall not be eligible for benefits and / or pension, save and except for a continuing employee that is fulfilling the duties of a career growth opportunity.