CONTRIBUTIONS
HOW MUCH DO I PAY?
You are required to contribute a negotiated percentage of Earnings toward the Plan through payroll deductions as follows:
Employees of Saputo Milk Division, Agrifoods and Plastipak Industries:
Active Participants - 3.5%
Disabled Participants - 0%
Employees of Morris Industries Ltd.
Active Participants - 5%
Disabled Participants - 6% at employees option
Employees of Lilydale Co-operative Ltd. and Great West Saw Ltd.:
Active Participants - 5%
Disabled Participants - 0%
Employees of Alsco Uniform & Linen Service Ltd.
and the Saskatchewan Joint Board:
Active Participants - 3.5%
Disabled Participants - 0%
Employees of Canadian Linen Regina and Saskatoon
Active Participants - 4%
Disabled Participants - 6% at employees option
Employees Great Western Saw Ltd.
Active Participants - 5%
Disabled Participants - 0%
Employees of Unemployed Workers Help & Counselling Centre
Active Participants - 6%
Disabled Participants - 0%
HOW MUCH DOES THE EMPLOYER PAY?
The Employer's required contribution is also negotiated as a percentage of your Earnings as follows:
Saputo Milk Division and Agrifoods
Active Participants - 8%
Disabled Participants - 6%
Morris Industries Ltd.
Active Participants - 5%
Disabled Participants - 0%
Lilydale Co-operative Ltd.
Active Participants - 5.5%
Disabled Participants - 10%
Alsco Uniform & Linen Service Ltd.
Active Participants - 4%
Disabled Participants - 7.5%
Employees of Canadian Linen Regina and Saskatoon
Active Participants - 4%
Disabled Participants - 0%
Plastipak Industries
Active Participants- 7%
Disabled Participants - 0%
Great Western Saw Ltd.
Active Participants - 5%
Disabled Participants - 10%
Saskatchewan Joint Board
Active Participants - 7%
Disabled Participants - 7%
Unemployed Workers Help & Counselling Centre
Active Participants - 6%
Disabled Participants - 12%
CAN I MAKE ADDITIONAL CONTRIBUTIONS TO THE PLAN?
Yes, you are permitted to make additional contributions to the Plan on a voluntary basis by payroll deduction, subject to the maximum rules set out in the Income Tax Act. These contributions will be set aside in a "Voluntary Contribution Account" on your behalf and will accumulate with interest on a tax free basis to the date of your retirement. On your retirement you may elect a cash refund or use this Account balance to purchase additional retirement income from the plan.
On your termination of employment or death prior to your retirement, the balance in this Account will be refunded to you (or your beneficiary).
The rate of interest that will be applied to your Voluntary Contribution Account each year will be the rate of return earned on the assets of the Trust Fund, net of investment expenses. You should be aware that if this return is negative in any year, your account balance would decrease that year.
Prairie Teamsters Administration Services Ltd.
209, 7260 - 12 St SE Calgary, Alberta T2H 2S5
Telephone 403-252-6924 - Toll Free1-877-817-7526 - Fax 403-253-3231