Campbell River District Teachers' Association

School District 72

BETWEEN

B.C. PUBLIC SCHOOL EMPLOYERS’ ASSOCIATION (“BCPSEA”)

And

SCHOOL DISTRICT NO. 72 (CAMPBELL RIVER)

And

BRITISH COLUMBIA TEACHER’S FEDERATION (“BCTF”)

And

CAMPBELL RIVER DISTRICT TEACHERS’ ASSOCIATION (“CRDTA”)

 

Re: Payroll Savings Plan

The parties agree that the following will be the Payroll Savings Plan for teachers in School District No. 72 (Campbell River). 

1) The board will provide teachers the option of participating in a Payroll Savings Plan. To be eligible for the Payroll Savings Plan teachers shall: 

  1. a) Be on a continuing appointment, or a limited duration contract from September to June of a complete school year. 
  2. b) Notify the Board through its Payroll Department, in writing using the prescribed form, no later than September 10th that they wish to participate in the plan. For initial enrolment in ensuing years, notification must be received no later that 4:30 p.m. on the Friday following the first day of school in September. 
  3. c) Notify the Board through its Payroll Department, in writing by June 30th if they do not wish to continue in the Payroll Savings Plan the following year. 

2) Those employees electing to participate in the Payroll Savings Plan shall receive their annual salary as follows: 

    1. a) For September to June: 
      1. i. Monthly Payroll Savings Plan contribution calculated as a percent of net pay, from each pay period. The Payroll Savings Plan contribution will be deposited into a separate account for each teacher participating in the plan in accordance with the Terms and Conditions of the Royal Bank of Canada’s Trusteed Deposit Services Agreement. 
      2. ii. Mid-Month advance calculated as approximately 40% of the anticipated net pay for that month less the Payroll Savings Plan contribution described in (i) above. 
      3. iii. Month-end payment of the teacher’s regular salary less the Payroll Savings Plan contribution described in (i) above. 

       

      b) For July and August: 

      i. The amount held in each teacher’s account with the Royal Bank of Canada’s Trusteed Deposit Services, including all interest earned to June 30 will be paid by the Bank in four equal payments, to the employee’s primary bank account on file in the Payroll Department records. The four equal payments will occur on July 15th and 31st, and August 15th and 31st. If any of these four days are non-banking days, the payment will be made on the last banking day preceding these dates.

      ii. The interest earned in July and August will be retained by the Board to cover administrative costs. 

      3) Employees electing to participate in the Payroll Saving Plan may not withdraw or suspend deductions unless they have resigned from the District, been granted a leave of absence for the remainder of the school year or been terminated. Other withdrawals from the plan would be in accordance with 1(c). 

      4) The board will make teachers aware of the Payroll Savings Plan option when they sign their contract at the Central Administration office on the date of their hire. 

       

       

       

       

      THIS LETTER SHALL BE IN EFFECT FROM JULY 1, 2006 TO JUNE 30, 2011 AT WHICH TIME IT WILL EXPIRE UNLESS RENEWED BY MUTUAL AGREEMENT OF ALL PARTIES CONCERNED. 

       

      FOR THE BOARD OF EDUCATION OF SCHOOL DISTRICT NO. 72 (CAMPBELL RIVER)

       

      _____ _________  

       

       

      FOR THE CAMPBELL RIVER DISTRICT TEACHERS’ ASSOCIATION

       

      _____ _________

       

       

      FOR BRITISH COLUMBIA TEACHERS’ FEDERATION

       

      _____ _________

       

       

      FOR B.C. PUBLIC SCHOOL EMPLOYERS’ ASSOCIATION

       

      _____ _________

      CRDTA

      Phone: 250-286-1663

      Fax: 250-286-1679