Retirement savings program

how to enroll

Your RRSPs are administered by Great West Life. In order for us to open an account in your name and deposit contributions, you must fill out the appropriate forms. You can fill out an RRSP enrollment Form and submit them directly to your LMS Payroll Department. Below you will find the details around your RRSP contributions, as per your collective agreement.

If you would like to make voluntary RRSP contributions into your plan by payroll deduction, please fill out this Additional RRSP Contributions Form.

REGISTERED RETIREMENT SAVINGS PROGRAM

The Employer will make the following contributions on behalf all non-salaried employees:

a. Upon completion of 2,000 hours with the Employer: 2% of gross wages;
b. Upon completion of 4,000 hours with the Employer: 3% of gross wages;
c. Upon completion of 6,000 hours with the Employer: 5% of gross wages;
d. Upon completion of 8,000 hours with the Employer: 6% of gross wages;
e. Upon completion of 16,000 hours with the Employer: 7% of gross wages;
f. Upon completion of 20,000 hours with the Employer: 8% of gross wages;

PROGRAM CONDITIONS

i. Employer contributions will be capped on the first 2,000 hours in any calendar year;

ii. There is no requirement for employees to match or to make any contributions. However, employees may make additional contributions via payroll deduction if they so choose.

iii.Salaried employees will also be invited to participate in the RSP program. However, salaried employees will be addressed by the employer on a case by case basis, during the course of future salary review discussions.