Offer Highlights
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$3,000 Signing Bonus in lieu of retro pay. Amount is equal to a 6% increase using the average salary of a full-time CUPE employee (2% wage increase per year). |
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2% Wage Increase in 2019 and 2020 |
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Salary Model Changes opens for more growth. Employees are guaranteed their salary won’t be reduced transitioning to the new model |
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$400 Flexible Spending Benefit currently $200 and can put into either a personal or health spending account |
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Days off with pay at Christmas so employees no longer have to use vacation or banked time |
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25 Vacation Days after 14 years of service (currently 17 years) 30 Vacation Days after 22 years of service (currently 23 years) |
Pension Highlights
Target Date Defined Contribution Provision
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Employee contributes 6.82% of pensionable earnings to plan |
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Employer contributes 6.82% of pensionable earnings to plan |
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Account value at retirement is determined by contributions and investment gains and losses |
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Contributions are invested and re-balanced for risk automatically in a Target Date fund based on the employee's normal retirement date |
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Retirees can access their account balance to provide income for their retirement |
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New employees are enroled and vested immediately in the pension plan. 0.5 ft and an appointment greater than 6 months |
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Early retirement age is 55 with no reductions |
The member's pension for service accrued up to the date of any change in the plan is protected by legislation and cannot be reduced.