BTS 90-10 Income Averaging info
BTS 90-10 Income Averaging Application (.doc) (.html)
CEP Local 34-0 Scholarship Application (INFO) (Form - HTML) (Form - Word)
RRSP - Payroll Deduction Form - Union
90/10 Seasonal Leave with Income Averaging
The following definitions apply:
·
Base Salary
The salary earned for work performed in regular time, for compensation time,
for holidays and holiday periods (excluding wages associated to the payment
of banked time, banked statutory holidays and banked annual vacations).
·
Seasonal Leave
A 5.2-week period taken between October 1 and April 30 of the following year
under the “90/10 Leave with Income Averaging” program.
·
Period of Income Averaging
The equivalent of 2,080 worked hours, compensation time, annual vacations, statutory
holidays or Seasonal Leave
All full time regular unionized employees of the Company are eligible to enrol with the “90/10 Leave with Income Averaging” program (hereafter called “Eligible employees”).
The program has been established to allow Eligible employees who wish to enrol and, conditional to the operations of the Company allowing it, to benefit from a 5.2 week Seasonal Leave as long as their Base Salary is averaged over the Period of Income Averaging.
The program applies to any 2,080 consecutive hour period beginning with the collective agreement in force for Eligible employees.
The Seasonal Leave must be taken in one or two blocks of dates between October 1 and April 30 of the following year, annual vacations not included, established at the time the enrolment form has been signed and approved.
The Eligible employee must agree to take no more than one week of his annual vacation between June 1 and September 30 of the same year.
The income averaging translates into a 10% deduction from the Base Salary at each pay to ensure that a salary is paid during the Seasonal Leave.
Recognized service will be based on a whole year.
Participation in other leave programs is limited to pregnancy and parental leave.
Contributions to the collective RRSP as well as to basic or optional benefit programs offered will be based on 100% of the Base Salary over the whole period of the program.
The following measures apply in cases of absence:
· If an absence during the Period of Income Averaging is less than three months, the Period of Income Averaging will be extended by the length of the absence.
· If the absence during the Period of Income Averaging lasts three months or more, the “90/10 Leave with Income Averaging” agreement will automatically be cancelled. The income averaging will then be adjusted according to the sums due by the Company or owed by the Eligible employee if the Seasonal Leave has already been taken in part or in whole.
· The Eligible employee remains eligible to receive short-term disability benefits during the “90/10 Leave with Income Averaging” under the provisions of the disability benefit plan.
· The Seasonal Leave will be suspended whenever an eligible disability covered by the disability benefit plan in force occurs. The suspension date shall be the one on which the event occurred. The employee will then have two choices:
1. Postpone the portions of the Seasonal Leave not yet taken to future dates agreed upon with his manager and subject to the requirements of his business unit; or
2. Cancel the “90/10 Leave with Income Averaging” agreement. The income averaging will be adjusted according to the amounts due by the Company or by the Eligible employee if he already did benefit from the Seasonal Leave, in whole or in part.
· If the event resulting in invalidity occurs during the Period of Income Averaging, the indemnities will be calculated on 100% of the Base Salary.
Accumulated vacation will be calculated on 90% of the Base Salary and on 100% of other admissible amounts earned.
If the Eligible employee enrols in the “90/10 Leave with Income Averaging” program after having booked his annual vacation on the vacation schedule, the Eligible employee shall inform his immediate superior which vacation week he wishes to keep between June 1 and September 30, of the Period of Income Averaging. Other weeks scheduled between June 1 and September 30, if any, will automatically be cancelled.
Should this agreement be terminated before the end of the Period of Income Averaging due to death, disability, prolonged absence (longer than three months), promotion, demotion, termination of employment, early retirement or by mutual consent of the parties to this agreement, the amount representing the difference between the Base Salary and payments made by the Company under this agreement will be settled as follows:
· If difference is negative, the Company will be authorized to deduct the amount owed through payroll deductions to a maximum of 50% of wages until it is fully reimbursed for a period not exceeding six months. If this cannot be done, the Eligible employee agrees to repay the amount owed in three equal monthly instalments starting 30 days after the termination of the agreement. Repayment of this debt will take priority over the purchase of BCE Inc.’s shares or voluntary RRSP contributions.
· If the difference is positive, the Company will be authorized to pay the amount owed to the employee on the pay period following the cancellation of this agreement, and to withhold applicable deductions.
To enrol in the program, the Eligible employee must complete and sign the Enrolment Form and submit it to his/her immediate supervisor.
The immediate supervisor will consider the request along with the needs of the Company’s operations.
Ten scholarships worth $500 each will be offered to members, children and
dependants of members who are attending full time post secondary education at a
recognized institution, such as university, college, CEGEP, technical or other
schools.
The scholarships are available to students who have completed their secondary studies, are enrolled and accepted into a post secondary institution. The payment of the $500 will be made payable to the student upon confirmation of enrollment.
Eligible candidates are:
CEP Local 34-O members in good standing
Children of CEP Local 34-O members in good standing
Children of CEP Local 34-O members who passed away while in good standing
Children of CEP Local 34-O members who retired while in good standing
The selection of the successful applicants will be completed on a lottery basis, in two draws, five to be completed on November 8th 2006, then five in January 2007.