Contributions to the Plan

Eligible Employees and their Employer are required to contribute to the Plan in accordance with the collective agreement. The contribution rates are as follows:

Employee Contributions - the percentage of annual gross pensionable earnings, deducted from your pay, depends on your age as follows:

Age Last Birthday	Percentage of Pay
less than 30	3%
age 30 or more but less than 40	4%
age 40 or more but less than 50	5%
age 50 or more	6%

Changes to employee deductions take effect on the first day of the following pay period in which your age changes from 30, 40 and 50 years.

Employer Contributions - effective June 9, 2011 is 10% of the bargaining unit employees' gross earnings who are members of the Plan.

Contributions are used to fund the Plan for all members for retirement benefits and provisions. Contributions are not used in the calculation of your accrued benefit except for confirmation you have not paid for more than 50% of your benefit.

Voluntary Contributions

These contributions can by made by payroll deduction only. Employees are cautioned about making Voluntary Contributions to the Plan in order to ensure that tax deductible limitations are not exceeded. You can find the deductible limits on the Canada Revenue website. The maximum Voluntary Contributions cannot exceed 2.25% of current earnings plus $600. The amount of Voluntary Contributions will reduce your RRSP room.

Contributions are Tax Deductible

The Plan is registered under the Income Tax Act and as such your contributions receive tax relief at the source. Your Plan contributions are deducted from your pay before your income tax is determined.

Interest calculated on Member's Contributions

Your required and voluntary contributions are credited with interest annually as follows:

Required Contributions

The current basis for determining the interest rate to be credited is the average of the annual yields of the five (5) year personal fixed term chartered bank deposit rate (as shown in the CANSIM Series B 14045 published by the Bank of Canada) over the 12 months of the Plan Year as prescribed by Federal Legislation (PBSA) 1985.

Voluntary Contributions

The rate of interest is determined by the Trustees but will not be less than the rate earned on the Trust Fund in the current Plan Year to the next lower one-half percent. Such rate is calculated on the basis that fixed income securities are valued at cost prices and equities are valued at market.

Request for a Refund of Voluntary Contributions

Voluntary Contributions can be refunded including interest upon application to the Administration office. To receive a refund you must first contact payroll and request no further deductions be made. Once the Administration office receives confirmation from payroll that Voluntary deductions have ceased, your application will be processed.
A member can apply for a refund of Voluntary Contributions at any one time but not more than once a year. Contact the Plan Administration office if further information is required.