| DOUGLAS COLLEGE !
ARCHIVES.

 

 

(e) Payments are to be made annually directly to the College
Pension Fund in one lump sum, A receipt will be issued
for income tax purposes.

(€) Enployment in a capacity of less than the normal working
arrangement is not considered a leave of absence.

2. The interest charged on contributions paid for a period of leave of
absence without pay is 6% compounded annually to August 31, 1984 and
the fluctuating rate applied to pension contributions after that date.

‘The fluctuating rate is the lesser of the net earned rate of the |
College Pension Fund or the average rate of the 3 major banks on their |
non-chequing savings account.

If you have any questions concerning the above changes to the Pre-
retirement Leave provisions, please do not hesitate to contact my office.

Yours truly,

    

~ John W. Cook
ee Superannuation Commissioner