OMERS Pension Clause Samples

OMERS Pension. Every employee shall join the Ontario Municipal Employees Retirement System at commencement of employment. The employer and the employee shall make contributions in accordance with the provisions of the Act. It is understood that any period of suspension without pay shall be deemed an approved leave of absence for OMERS pension purposes. Should the employee elect to purchase any portion of that period as credited service, the employee shall be responsible for both the employee and employer’s OMERS contributions for such period.

OMERS Pension. The Employer agrees to provide to permanent employees O.M.E.R.

OMERS Pension. 7.2.1 With respect to the pension described in Article 7.1.1, the contribution of the Board and of each member shall be in accordance with the rates as prescribed from time to time in the Ontario Municipal Employees Retirement System Act and the regulations made thereunder. The Board agrees that, for the purposes of OMERS, a member's contributory earnings will include identified taxable benefits (including automobile and service pay) in accordance with the OMERS guidelines and regulations. 7.2.2 With respect to the pension described in Article 7.1.2, the Board shall contribute one hundred percent (100%) of the cost of providing past service benefits. 7.2.3 With respect to the pension described in Article 7.1.3, the Board shall contribute one hundred percent (100%) of the cost of providing future service and past service benefits.

OMERS Pension. The Employer participates in a pension plan under the provisions of the Ontario Municipal Employees Retirement System Act. It is a condition of employment that each full-time employee becomes a member of the Ontario Municipal Employees Retirement System contributing payments as required by the Act by payroll deduction. The Employer will contribute an amount to the Fund as required from time to time by the trustees of said Fund.

OMERS Pension. 15.1 All regular and probationary employees will participate in the Ontario Municipal Employees Retirement System (OMERS) basic pension plan in accordance with the OMERS regulations.

OMERS Pension. Every employee shall join the Ontario Municipal Employees Retirement System (OMERS) on being hired. The Employer and the employee shall make contributions in accordance with the provisions of the Plan.

OMERS Pension. A part-time employee has the option of electing to join and enrol in the OMERS Pension Plan subject to meeting the eligibility and enrolment requirements of the Plan and the Pension Benefits Act. (Must have worked at least 700 hours or earned at least 35% of the Year’s Maximum Pensionable Earnings as defined by Canada Pension in the two (2) immediately preceding years).

OMERS Pension. 19.01 In addition to the Canada Pension Plan all eligible nurses at the time of hiring shall join the Ontario Municipal Employees Retirement System. The Employer and nurse shall make contributions in accordance with the provisions of the Plan. As defined by ▇▇▇▇▇, “Other than Continuous Full-time Nurses” are eligible on a voluntary basis, to join the plan if during each of the two immediately preceding calendar years they have worked at least 700 hours, or earned at least 35% of the Year’s Maximum Pensionable Earnings (YMPE) as defined under the Canadian Pension Plan. It should be noted, however, that once an nurse joins OMERS the nurse cannot opt out at a later date or if there is an employment status change, for example a change in status from full-time to part-time.

OMERS Pension. A16 The City agrees to pay its portion of the required premiums toward a benefit at normal retirement age equal to 2% of each Employee’s best 60 consecutive months’ average salary multiplied by his/her years of credited service, reduced at age 65 by the prevailing OMERS rate (currently .675% as of November 21, 2001) of such average salary or the average of the last three year’s Maximum Pensionable Earnings under the Canada Pension Plan at retirement whichever is the lesser amount, multiplied by his/her years of credited service after January 1, 1966, less any amount payable under an approved pension plan of the Employer. Credited Service means continuous service with the Employer: