Deferred Salary Leave Plan
The Division believes in offering a Deferred Salary Leave Plan to allow employees to pursue a leave of absence.
- In order to participate in the Deferred Salary Leave Plan, an eligible employee must make a written application by way of the appendix to this administrative procedure (Schedule A) to the Superintendent on or before March 31, prior to the school year they wish to participate.
- The Superintendent shall review all applications and by June 15 of that year, advise each applicant of the decision.
- If the Superintendent approves employees’ involvement in a Deferred Salary Leave Plan, the participants, for a maximum of six (6) years, will receive their current compensation less the percentage of salary that they have specified in the Board-Participant Agreement.
- The percentage of salary that is deferred cannot exceed one hundred percent (100%) when the deferring years and leave of absence year are combined (e.g. deferring twenty-five percent (25%) per year for five (5) years for a leave in the sixth year is not possible).5The deferred percentage cannot exceed thirty-three and a third percent (33 1/3%).
- The deferred monies retained by the Division shall be invested by the Division with a reputable investor.
- Prior to the end of each taxation year, the Division will pay to the participant the accrued interest to such date.
- Annually the Division will make a report to participants as to the amount of deferred salary retained by the Division including interest paid out to the participants.
- The Division will maintain applicable health benefit coverage for participants during the year of leave provided participants assume the total cost of such premiums.
- Participants during the year of leave shall not accumulate nor be entitled to:
- Experience for salary increments or years of service;
- Statutory holidays; and
- Maternity, paternity, sick or other leaves.
Sections 60, 61, 111, 113 School Act
Section 248L,CanadaTax Act
CanadaIncome Tax Regulation 6801
Clause 19.1, ATA Collective Agreement
Board Policy 12 Role of the Superintendent