Date: Friday, April 15, 2016 | Category: Collective Agreement | Author: UniforAdmin
LETTER OF UNDERSTANDING
The Company agrees to provide a Special Retirement Allowance (SRA) to eligible employees as proposed and provided by the Company. The SRA will accrue for every year of future service following January 1, 2013 (including for those employees on disability) and is payable upon the employee’s retirement from Bell Media, pre-retirement death, or involuntary termination, which includes layoff.
The Company confirms that it will secure the SRA through a Retirement Compensation Agreement (RCA) as defined under the Income Tax Act. Therefore the Company will fund the SRA on an annual basis through a RCA via a separate trust