Prepaid Leave Sample Clauses
The Prepaid Leave clause establishes the terms under which an employee may receive payment for leave time in advance of actually taking the leave. Typically, this clause outlines the process for requesting and approving prepaid leave, specifies the types of leave eligible for prepayment (such as annual or vacation leave), and may address how repayment is handled if the employee does not ultimately take the leave or leaves the company before earning it. Its core function is to provide financial flexibility for employees while ensuring the employer has clear procedures to manage and recover prepaid amounts if necessary.
Prepaid Leave. Permanent Employees will be entitled to take a leave of absence financed through a salary deferral arrangement in accordance with the provisions of the Prepaid Leave Plan set out in Article 44 of this Agreement.
Prepaid Leave. The Employer agrees to a prepaid leave program, funded solely by the Nurse, subject to the following terms and conditions:
(a) The plan is available to Nurses wishing to spread four (4) years' salary over a five (5) year period, in accordance with part LXVIII of the Income Tax Regulations, Section 68.01, to enable them to take a one year leave of absence following the four (4) years of salary deferral.
(b) The Nurse must make written application to the Nurse’s Director at least six (6) months prior to the intended commencement of the program (i.e. the salary deferral portion), stating the intended purpose of the leave.
(c) One Nurse shall be permitted to be on prepaid leave at one time. The year for purposes of the program shall be September 1st of one year to August 31st of the following year, or such other twelve month period as may be agreed upon by the Nurse, the Association and the Employer.
(d) Written applications will be review by the Director or designate. Leaves requested for the purpose of pursuing further formal nursing education will be given priority. Applications for leaves requested for other purposes will be given the next level of priority on the basis of seniority.
(e) During the four years of salary deferral, twenty percent (20%) of the Nurse’s gross annual earnings will be deducted and held for the Nurse and will not be accessible to the Nurse until the year of the leave or upon withdrawal from the plan.
(f) The manner in which the deferred salary is held should be at the discretion of the Employer.
(g) All deferred salary, plus accrued interest, if any, shall be paid to the Nurse at the commencement of the leave or in accordance with such other payment schedule as may be agreed upon between the Employer and the Nurse.
(h) All benefits shall be kept whole during the four years of salary deferral. During the year of the leave, seniority will accumulate. Service for the purpose of vacation and salary progression and other benefits will be retained but not accumulated during the period of the leave. The Nurse shall become responsible for the full payment of premiums for any health and welfare benefits in which the Nurse is participating. Contributions to OMERS will be in accordance with the plan. The Nurse will not be eligible to participate in the Disability Income Plan during the year of the leave.
(i) A Nurse may withdraw from the plan at any time during the deferral portion provided three months' notice is given to the Director. Defer...
Prepaid Leave. In accordance with Article 11.11 (c) no more than two (2) nurses shall be absent at any one time, and no more than one (1) nurse from any one unit (for the purpose of this clause the ER, OR and Medical Unit are considered one unit).
Prepaid Leave. N-1 The Hospital agrees to approve the application of full-time and part-time nurses annually for the prepaid leave plan in accordance with the conditions of the Central Agreement. At any given time, there will only be one full-time and one part-time nurse off per unit on the prepaid leave plan.
Prepaid Leave. For the purposes of the prepaid leave plan, there shall be no more than one (1) nurse from any one (1) unit. Both full-time and part-time nurses are included in this total.
Prepaid Leave. Q-1
(a) Subject to (b) below, the maximum number of eleven (11) Employees in total from the bargaining unit shall be absent at any one time under the Prepaid Leave Plan, as referred to under Article 11 of the Central Collective Agreement. Five (5) of such Employees may be part-time.
(b) No more than two (2) Employees may be absent from any one (1) unit at any one time under the Prepaid Leave Plan as referred to in (a), above.
Prepaid Leave. M-1 No more than two (2) Nurses may be absent on prepaid leave at any one (1) time provided that not more than one (1) Nurse from any unit is absent at the same time. Notwithstanding the above, the Hospital, in its discretion, may allow a third Nurse to be absent on prepaid leave at the same time.
Prepaid Leave. M.1 The number of nurses eligible to participate in the prepaid leave plan in any given year will be no more than fifteen (15) full-time nurses and fifteen (15) part-time nurses and not more than one (1) per unit.
Prepaid Leave. K.1 The Hospital agrees that the quota of nurses permitted on prepaid leave at one time is one (1) full-time nurse, one (1) regular part-time nurse and one (1) casual part- time nurse.
Prepaid Leave. (a) The Prepaid Leave Plan affords Employees the opportunity of taking a year leave of absence financed through salary deferral.
(b) All permanent Employees are eligible for the program; however, the scheduling of the leave and whether or not the vacant position is to be temporarily refilled must be undertaken with the issues of service to the public and maintaining financial restraint as criteria.
(c) An application for participation in the Plan is to be filed with the Employee's supervisor at least (4) months prior to the beginning of the pay period when the Plan is to commence.
(d) The leave period is not to exceed one (1) year. At the commencement of the Plan, the Employee will be paid a reduced salary, and the remaining percentage of salary and applicable interest will be accumulated and used to finance leave. The maximum length of the deferral period is six (6) years and the maximum amount of salary that may be deferred is 1/3 (33 1/3%). When received, the deferred amounts are subject to income taxes, Canada Pension and Employment Insurance.
(e) 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 calendar month for: a true savings account, a 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 shall be those quoted by the financial institution maintaining the deferred account. Interest shall be based upon the average daily balance of the account and credited to the Employee's account on the first day of the following calendar month.
(f) During the period of salary deferral, i.e. before the leave, any benefits related to salary level shall be structured according to the salary the Employee would have received had they not been enrolled in the Plan. While the Employee is on leave, they are responsible to pay the full cost of all such benefits and these benefits shall be based on the salary the Employee would have received in the year prior to the leave had they not been enrolled in the Plan. Vacation credits will not be earned during the leave and sick leave is not available during this period.
(g) In extraordinary circumstances, the Employee may withdraw from the Plan by submitting a written request. In the event of withdrawal or termination, the Employees shall be paid a lump sum including accrued interest.
(h) If the Emp...