Employee Benefits
Answer
Extended Health Benefit Plan
- Employee(s) may participate in the current company extended benefit plan.
- Employee to pay 30% of benefit premium, while Tofield Municipal Library to pay 70% of benefit premium. Employees who opt out of extended benefits must do so in writing.
- The unpaid employee portion of the extended health care benefit plan over 2 months in arrears will result in the employee being removed from the program.
- Statement of arrears account will be sent to the employee by registered mail and by email if available.
- Employee(s) are responsible to ensure contact information is up to date.
Self-Directed Retirement Savings Plan - (Employee chooses the financial institution)
- The Tofield Municipal Library recognizes that a pension plan represents a required employee benefit, which provides for retirement income.
- A Registered Retirement Savings Program is available after 3 months of employment or the granting of permanent status, whichever occurs first, with benefits available back to the date of regular employment starts with the library. The library shall contribute up to a maximum five percent (5%) of each employee’s gross regular salary/wage on a matching basis. Contributions by both employee and employer shall be deposited by the library on a monthly basis into a registered retirement plan account through a registered Canadian financial institution.
- If employee does not comply with policy the employee will be removed from the program immediately.
- Changes to the contribution level or participation in the program must be submitted in writing to the Finance Officer.
- It is the employee’s responsibility to supply the library Finance Officer with the bank account information or any changes to the bank account for the RRSP payment to be deposited into each month.
- Employees are to submit a copy of their T4RSP slip from their bank provider to the library for
confirmation of the employee(s) matching contribution has been deposited into RRSP account.