Foothills Regional Emergency Services Commission Collective Agreement 2023-2025

Article 35: Group RRSP Plan

1. The Foothills Regional Emergency Services Commission believes in investing in its employees not only in the present but also into the future. With this principle in mind, the Commission has chosen to implement a Group Registered Retirement Savings Plan for its employees. This program will be administered through Royal Bank Financial Services Group with the following criteria:
   1. Effective January 1, 2009 - matching contributions by Employee and Employer up to eight per cent (8%) regular earnings on the part of the Commission – a minimum Employee contribution of three per cent (3%) is required.
2. 1. The employee contribution to the RRSP Plan may exceed the employer contribution.
   2. Should the employee at any time during their employment choose to withdraw any portion of the contributions from the program, the following stipulations will apply:
      1. The employee may apply to withdraw RRSP contributions without penalty for the following purposes:
         
         -        home purchase
         -        financial hardship due to illness or injury of immediate family
         -        marriage breakdown
         -        death in family
         -        other reasons as approved by the Commission
          
      2. The application for withdrawal must be made in writing to the employer.
      3. Withdrawal for any other reasons shall constitute suspension of employer contributions.
      4. Employees shall participate in the FRESC RRSP program after the probationary period has been served.