HomeMy WebLinkAboutTIV 88 012 employee benefits
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VILLAGE OF TIVERTON
BY-LAW NUMBER 1988-/~
Being a by-law to set up a pension plan and sick leave credits and health and
safety benefits for the Clerk and other employees of the Village of Tiverton as
authorized by the Municipal Act RSO 1980 Chapter 302 Section 208 Paragraph 46 and
47.
NOWTHEREFORE, the Council of the Village of Tiverton enacts as follows:
1) On or before February 29th of each year a Registered Retirement Savings Plan
in the amount of one thousand dollars ($1000.00) shall be purchased for each
employee in his or her name, to be kept in trust by the Clerk of the Municipali
2)a)To be eligible for the Registered Retirement Savings Plan an employee must be
in the employment of the Village of Tiverton for one year.
b)Employees must contribute one half of
Village of Tiverton contribution five
five hundreds dollars ($500.00)
Savings Plan.
Employees shar~
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the Registered Retirement
hundred dollars ($500.00)
c)Upon termination of employment employee will receive paid up plans and
accumulated interest and the amount for the year of termination shall be
prorated.
3)
Sick leave credits shall be five days (5) after six months employment, then
a) one day per month to a maximum of 10 days per year.
b) accumulation of unused days not to exceed 60 days.
c) upon retirement of employment, payment to be made for credits accumulated
to date of retirement.
4) That a credit of up to five hundred ($500.00) be paid for medical expenses
and safety equipment. Payment upon receipt of expenses only. Any balance
at end of fiscal year will not be accumulative.
READ A FIRST, SECOND AND THIRD TIME AND FINALLY PASSED SIGNED AND SEALED THIS
8th DAY OF NOVEMBER 1988.
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