Common use of Pension Transition Clause in Contracts

Pension Transition. All probationary employees (as of April 21, 2013) and all future employees will join the Sysco Canada Defined Contribution Union Pension Plan with no amendments or additions. As a consequence those employees will not be entitled to the add-ons outlined below. All current employees in the Canadian Commercial Workers Industry Pension Plan (CCWIPP) will join the Sysco Canada Defined Contribution Union Pension Plan and receive the following add-ons: The Employer will commence contributions for all eligible employees in the amount six hundred ($600.00) dollars per person per year into the Sysco Canada Defined Contribution Union Pension Plan for the years of service between April 21, 2013 and end of employment with Sysco. All payments will become part of the employee’s Sysco Canada Defined Contribution Union Pension Plan account and will be made available upon retirement. Sysco Canada Defined Contribution Union Pension Plan text rules to apply. Affected Employees The following employees are eligible for the add-ons outlined above as outlined below.