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with the Toronto Public Service at a rate of:
3 weeks per year of service for union and non-union exempt staff
4 weeks per year of service for management staff
Employees who are eligible to retire with an immediate pension will receive retiree benefits, if eligible, in accordance with their collective agreement or policy
Employees who would become eligible to retire with retiree benefits if their separation payment were paid as salary continuation will be eligible to receive salary continuance until the end of the month they turn age 55 with any remaining money paid in a lump sum upon retirement
Employees who are not eligible to retire with retiree benefits are entitled to receive a benefit/transition allowance, the amount of which is based on their service calculation
All payments are subject to statutory deductions and such other deductions as are required by law and any employee with unused Registered Retirement Saving Plan (RRSP) room and/or who has service prior to 1996 may be eligible to transfer a portion of their lump sum payment to a RRSP.
Other Payments Available
Outstanding payments for vacation, float days and unused lieu time and sick pay gratuity, if eligible, are paid out upon separation in addition to any amount for which the employee is eligible for as per the Voluntary Separation Program. Employees who receive their separation payment in the form of salary continuation, as set out above, will receive their sick pay gratuity after any salary continuation period ends.
Employees represented by Locals 79 and 416 who are eligible to retire with an immediate pension may receive their sick pay gratuity, if eligible, in the form of salary continuation in order to contribute to the pension plan prior to retirement. Non-union employees of the former municipalities of Metro, Toronto and Etobicoke may also use their sick pay gratuity to extend time on payroll prior to retirement as per predecessor municipal policies.
Application Submissions for the Voluntary Separation Program
Employees who decide to apply to the Voluntary Separation Program must submit a signed application form for consideration to the Human Resources Division and ensure their application is received by September 9, 2011. Applications should be sent to
Human Resources Workforce Transition Team
Metro Hall, 4th Floor,
55 John Street
Toronto, ON M5V 3C6
Application drop-boxes will also be available next to the Security Desk at Toronto City Hall and each of the Civic Centres.