Maybe you’ve dreamed of taking a year off to sail the globe … or finally finishing that novel…or simply spending more time with your growing family.
Did you know the Deferred Salary Leave Plan allows employees to finance a leave without pay of 6 months to 1 year?
You can finance this leave by deferring up to a maximum of a third of your salary.
On return from leave, you will be assigned to the same or equivalent position you held previously and you will be required to return to regular employment for a period equal to your leave of absence.
Kate earns $45,000 annually. She’s begun deferring $173 each pay period for four years. By making this contribution for four years, she’ll be taking six months off to see the world while still receiving income. 1
The Deferred Salary Leave Plan is not for everyone and some conditions do apply. Consult with your manager to determine if Deferred Salary Leave Plan could be an option for you.
For full details of the Deferred Salary Leave Plan, please consult Administration Manual Policy 2408 and the Deferred Salary Leave Plan Booklet.
1 Example only. For your calculation and contributions, contact your human resources department.