Memorial University Pension Plan Participation by Contractual Employees

Purpose:

To explain the conditions governing the participation of contractual employees in the Memorial University pension plan.

Scope:

Contractual employees

Policy:

A contractual employee shall participate in the Memorial University Pension Plan on the earlier of:

1. the effective date of appointment to a contractual position of at least six months duration to work at least 20 hours per week; or,
2. the effective date of completion of six months continuous employment of at least 20 hours per week.

 Where a contractual employee participating in the pension plan experiences a short term break in employment not exceeding 1 month, he/she shall continue to participate in the pension plan upon re-appointment to another contractual position, notwithstanding the length of the new contract. If the break in employment is greater than 1 month, the qualification criteria outlined above must be met.

 For a contractual employee who, following policy amendment on September 11, 2003, exercised an additional one-time option and elected not to join the pension plan, the following guidelines shall apply:

1. the election is irrevocable for the life of the contract and for any extensions or renewals where there is no break in employment. For this purpose, renewals include changes in position or classification without a break in employment; and,
2. a break in employment means a period exceeding 1 month in duration.

 A contractual employee may elect to purchase eligible prior contractual service, for which he/she had previously opted out of the pension plan. The total cost to purchase prior pensionable service is the full actuarial cost of the period of service being purchased.