If members take an unpaid leave, they have the option of buying service for the period of their absence. Leaves taken under the Employment Standards Act (ESA), including the new COVID-19 related leave, are shared-cost leaves. If members choose to buy service for such a leave, both the teacher and the employer will pay a portion of the purchase cost. A leave with full pay does not count as a leave because both the teacher and the employer are still contributing to the plan.
Because this is a shared-cost leave, teachers may find it financially beneficial to purchase the service for the entire duration of the leave taken under the ESA. Find out more at Teachers Pension Plan Member News from July 2021. You can also contact Dana Neidig at firstname.lastname@example.org.Leave a reply