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Retirement Savings Plan (RRSP)

(Section 6.100 of the Decree)

The Parity Committee is in charge of managing a Retirement Savings Plan (RRSP) for building service employees. The contribution towards the group RRSP is paid by the employer.

As of October 30th, 2017, the employer's contribution to the Plan is set at $0.45 per paid hour.

There is no rate increase provided by the Decree up to its termination on November 1st, 2024.

As for the monthly report and levy, the employer's contribution to the RRSP has to be sent to the Parity Committee every month and is added to the monthly levy.

Paid hours include regular worked hours, overtime hours, holidays (worked or not), sick leave hours (including the yearly excess sick leave hours, if applicable), mobile holidays (for unionized employees), as well as all paid hours, in result of adjustment or a special holiday. A vacation pay is the only payment on which contributions may not be applicable.

Attention! Since November 9th, 2011, the employee may add a volunteer contribution toward the RRSP plan directly on the pay. To make all the necessary arrangements, the employee must give a written authorization to his employer stating the amount he wants to be deducted from the pay.

The employer will send to the Parity Committee this volunteer contribution with the other compulsory contributions for all employees, but he will have to distinguish it separately. Please contact the Parity Committee before sending any volunteer contribution in order to know how to proceed.

The employer is required to list both the current and yearly cumulative for RRSP contributions on the employee's pay slip as well as in the payroll register. As the case may be, the same apply to the volunteer contribution.

The RRSP contributions received by the Parity Committee are transferred to IA Financial Group, who manages the funds in the RRSP since July 2014. The employee who has never completed a registration form, must complete the registration form in order to have his contributions transfered to the trustee. This form is available with IA Financial Group, at ia.ca/enrolnow, or by phone at 1 800 567-5670. The identification number of the plan is 15383CM001TP.

IMPORTANT: The RRSP contribution is considered an earning for the employee. It must be included in the levy's calculation as well as in the employee's vacation pay calculation. Contact the Parity Committee to know more about it or consult section RRSP in the Employer's menu of the website.