Required Contributions. The Company has made all required contributions under each Pension Plan on a timely basis or, if not yet due, adequate accruals therefore have been provided for in the financial statements. No Pension Plan has incurred any "accumulated funding deficiency" within the meaning of Section 302 of ERISA or Section 412 of the Code and no Pension Plan has applied for or received a waiver of the maximum funding standards imposed by Section 412 of the Code.
Required Contributions. Bargaining unit members covered by this Section B shall continue to pay, through payroll deduction, 8.0% of compensation earnable contribution to CalPERS.
Required Contributions. The Borrower shall, and shall cause each Subsidiary of the Borrower and Controlled Group Members to, make contributions to each Plan when due in accordance with the minimum funding requirements under ERISA and the Code applicable to such Plan and pay any required PBGC premiums as and when due for such Plan.
Required Contributions. (a) (i) The Employers agree to make pension contributions for each hour worked by each Employee covered by this Agreement in addition to the wages herein stipulated, said amounts may hereafter be amended in future bargaining: That for each hour worked by each employee covered under this agreement 25 cents per hour of the above pension contribution shall be paid towards a percentage of contribution plan whereby the monthly accrued benefit payable at regular retirement age is determined by taking the multiplier times the amount of a participant's total contributions during his years of plan participation. From June 1, 2021 until May 31, 2022 the Employers shall contribute $13.49 per hour. From June 1, 2022 until May 31, 2023 the Employers shall contribute $13.49 per hour from the amount payable for the June 1, 2021 - May 31, 2022 contract year plus such additional amount as the Union chooses to allocate from its June 1, 2022 total economic adjustment package. From June 1, 2023 until May 31, 2024 the Employers shall contribute the amount payable for the June 1, 2022 - May 31, 2023 contract year plus such additional amount as the Union chooses to allocate from its June 1, 2023 total economic adjustment package. As part of the collective bargaining process, for purposes of funding the IUPAT Industry Pension Fund, the Employer and the Union agree to an increase of an additional thirty four cents (.34¢) per hour for a fifth year June 1, 2021 through May 31, 2022. Such contributions shall be made to the Chicago Painters and Decorators Pension Fund, hereafter referred to as the “Pension Fund.” Such amount will be no less than the amount calculated by the Pension Fund consultant as is required to maintain the current level of benefits before any amount is allocated to the wage portion of the total economic adjustment package for that year.
Required Contributions. Bargaining unit members covered by this Section B shall continue to pay, through payroll deduction, 8.0% of compensation earnable contribution to CalPERS. 6.197% shall be contributed toward the City’s pension costs, and 1.803% shall be contributed toward the employees’ pension contribution. The City shall pay 6.197% of compensation earnable as EPMC (Employer Paid Member Contribution) and shall report the same percent (value) of compensation earnable as special compensation pursuant to Government Code Section 20636(c) (4).
Required Contributions. (a) (i) All Employees. Effective June 1, 2021 to May 31, 2022, the Employers agree to make apprenticeship contributions of One Dollar and Eighty Seven Cents ($1.87) per hour for each hour worked by each Employee, including apprentices and trainees covered by this Agreement, in addition to the wages herein stipulated in each year of this Agreement. This amount may hereafter be increased by allocation from the Union’s total economic package. These additional contributions can be used for the purpose of an increased apprentice stipend or for purposes related to further the apprentice program. Contributions shall be made to the Chicago Area Painting and Decorating Joint Apprenticeship and Training Committee, hereafter referred to as the "Apprenticeship Fund".
Required Contributions. On or prior to the Closing Date, Sellers shall make, or shall cause to be made, all contributions (including without limitation, all employer matching or other contributions and employee salary reduction contributions) to and payments from any Seller Benefit Plan in respect of any Company Employees (except those distributions to be made from a trust qualified under Section 401(a) of the Code) that pursuant to the Seller Benefit Plans or in accordance with Sellers' past practice and in the ordinary course, become due or would normally be paid prior to the Closing Date.
Required Contributions. All contributions required to be made by the Acquiror or the Acquiror's Subsidiaries to such Benefit Plans pursuant to their terms and provisions have been made timely.
Required Contributions. Company or the Bank has made when due all contributions required under any Employee Benefit Plan and under applicable laws and regulations.
Required Contributions. (a) (i) The Employers agree to make welfare contributions for each hour worked by each Employee covered by this Agreement in addition to the wages herein stipulated, said amounts may hereafter be amended in future bargaining as required to maintain the current level of benefits. From June 1, 2021 until May 31, 2022 each Employer shall contribute $13.01 per hour for each hour worked by each Employee covered by this agreement. From June 1, 2022 until May 31, 2023 each Employer shall contribute $13.01 per hour from the June 1, 2021 - May 31, 2022 contract year, plus such additional amount as the Union chooses to allocate from its June 1, 2022 total economic adjustment package. From June 1, 2023 until May 31, 2024 each Employer shall contribute the amount per hour from the June 1, 2022 - May 31, 2023 contract year, plus such additional amount as the Union chooses to allocate from its June 1, 2023 total economic adjustment package. Such contributions shall be made to the Chicago Painters and Decorators Welfare Fund, hereafter referred to as the “Welfare Fund.” The Union commits to allocate to the Welfare Fund from its total economic package during the life of this contract such amounts as are required to maintain current benefits, as calculated by the Welfare Fund consultants, before any distribution is made to the wage allocation from the total economic adjustment package.
