Deferred Leave Plan Clause Samples
A Deferred Leave Plan clause establishes the terms under which employees can postpone a portion of their annual leave to be taken at a later date. Typically, this clause outlines eligibility criteria, the process for requesting deferral, and any limits on the amount or timing of leave that can be deferred. By providing a structured way for employees to manage their time off, the clause helps balance operational needs with employee flexibility, ensuring both business continuity and personal planning.
Deferred Leave Plan. Purpose
38.01 The Prepaid Leave Plan is established to afford Employees the opportunity of taking a one (1) year or one-half (1/2) year leave of absence and to finance the leave through the deferral of salary. For greater clarity, one-half (1/2) year for a ten (10) month Employee will be five (5) months.
Deferred Leave Plan. The Deferred Salary Leave Plan is being introduced as a pilot project to provide Nurses the opportunity of taking a one (1) year leave of absence and, through deferral of salary, finance the leave.
Deferred Leave Plan. The Board will maintain a Deferred Salary Leave Plan for Local members. Components of the Plan are: Plan allows employees to defer a portion of their (33 or 20%) over a period of or years and to withdraw the deferred amount during a one year leave of absence. There is no minimum length of employment required to be eligibleto participate in the Plan. All employees are eligible to participatetwo times in the Plan. Applications must be received by the Secretary-Treasurer prior to March contributions to commence the following September and month employees) July (1 month employees).
Deferred Leave Plan. The shall afford teachers the opportunity to take a leave of absence, financed through the deferral of salary. Any teacher who has at least two (2) years of service is eligible to participate in the A teacher shall make written application to the on or before Match of the school year prior to that in which the leave plan is to commence, participation in the and specifying the desired salary Written acceptance, denial, or suggested modifications of the request, with explanation, shall be to the teacher on or before May of the school year inwhich the request is made. The shall be from four (4) to seven years length includingthe year of the leave. The leave shall be taken in the last year of the plan.
Deferred Leave Plan. The Division shall administer a Deferred Salary Leave Plan for the Park West Teachers’ Association of The Manitoba Teachers’ Society.
Deferred Leave Plan. Teachers may subscribe to the Deferred Salary Leave Plan sponsored by the Teachers' Investment and Housing Co-operative.
Deferred Leave Plan. [Available only to those currently enrolled In the plan and operational until such time as the last member has withdrawn received their final . the Plan as outlined in Section The account will be credited with of interest earned at the rate paid by the bank on such accounts. The provide each participant with a statement of the participant’s account as of each year. sent to the teacher. The method of repayment of accumulated monies, less appropriate deductions, will be on September 1 and the balance on February 1 In the year of the and Implement that process.
Deferred Leave Plan. The Deferred Salary Leave Plan is a self-financing plan that has been developed to afford a Teacher the opportunity of a one-year leave of absence with pay by spreading the salary payments over a deferred period. The payment of salary and timing of the Deferred Salary Leave Plan may be as follows: In the first four (4)years of the Plan a Teacher will be paid of the annual salary normally paid under the collective agreement. The remaining of the annual salary shall be withheld by the Board in each of the years leading up to the leave period. These amounts shall be held in trust by the Board and interest accumulated and paid at the Canada Savings Bond rate of the current year. The interest is to be added semi- annually at the end of December and at the end of June. During the Leave period the Teacher shall receive the total deferred salary.
Deferred Leave Plan. In each year of the plan, preceding the period of leave, a Teacher will be paid a reduced percentage of their Total Salary. The remaining percentage of the annual salary will be deferred and this accumulated amount plus any interest earned shall be retained by the Board to be paid to the Teacher in the period of the leave. The calculation of interest under the terms of this plan shall be done monthly (not in advance). The interest paid shall be calculated by averaging the interest rates in effect on the last day of each month for a True Savings Account, one (1) Year Term Deposit, a three (3) Year Term Deposit and a five (5) Year Term Deposit. The rates for each of the accounts identified will be those quoted by the financial institution with which the Board deals. In the period of the leave the Board shall pay to the Teacher the total money deferred plus all accrued interest in accordance with Article During the year of the leave, interest shall be paid as follows:
Deferred Leave Plan. The Board shall make available a deferred salary leave plan and make the necessary payroll deductions for remittance to the corporation administering the plan. A maximum of teachers shall be granted a deferred salary leave of absence for a given year. The Deferred Salary Leave Plan application shall be concluded by September in the year of application to participate in the deferred salary plan. Upon the expiry of the leave of absence under the Deferred Salary Leave Plan, the teacher shall resume employment with the Board. A deferred salary committee consisting of a Board member, a teacher representative and a member of division office administrationmay be established to resolve conflicts that may arise with the Deferred Salary Leave Plan.