LETTER OF UNDERSTANDING
BANKED VACATION DAYS
The following will confirm the understanding and agreement between the parties concerning Banked Vacation Days.
All Banked Vacation Days an employee has accumulated as of May 1, 2020 will remain banked and will be paid out upon the employee leaving the Company.
For employees participating in the Bell MTS DB Pension Plan, the payout will be recognized as pensionable earnings.
There is no expiration date on Banked Vacation Days.
TEAM is an affiliate of the International Federation of Professional and Technical Engineers (IFPTE), AFL-CIO & CLC. Established on July 1, 1918, the IFPTE is a diverse labour union advocating on behalf of more than 80,000 women and men in professional, technical, administrative and associated occupations in Canada and the United States.