BEAUTIFUL PLAINS TEACHERS' ASSOCIATION

EFFECTIVE PERIOD: 2014/07/01 - 2018/06/30 (EXPIRED)

Article 19: Interest on Retroactive Pay

The Division shall pay the members of the Association, interest on the gross amount of any retroactive pay which may be paid to such members less the amount of any statutory deduction for Canada Pension, Employment Insurance and Income Tax due with respect to that pay.  The interest to be calculated from the dates which the monies would have been due, to the date of actual payment.

The interest shall be computed at a rate determined by the Special Savings rate in effect at the Beautiful Plains Credit Union, Neepawa, on the date of the signing of the Collective Agreement.