Annuity Fund Sample Clauses
An Annuity Fund clause establishes a dedicated pool of assets or funds set aside to provide regular, periodic payments—typically in the form of annuities—to designated beneficiaries. This clause outlines how the fund is created, managed, and distributed, often specifying the frequency and amount of payments, as well as the conditions under which payments are made or may cease. Its core practical function is to ensure a reliable and predictable stream of income for beneficiaries, addressing the need for financial security and stability over a defined period or for the lifetime of the recipient.
Annuity Fund. To fund the Operating Engineers Annuity Plan, each Individual Employer covered by this Agreement shall pay into the Pension Trust Fund for Operating Engineers, according to the following schedule: *To be allocated by the Union.
12.07.01 The Annuity Plan is and has been a defined contribution pension plan.
Annuity Fund. The EMPLOYER agrees to be bound by all provisions set forth in the Agreement and Declaration of Trust, and all amendments thereto, governing establishment and operation of the I.U.P.A.T. District Council 21 Annuity Fund. The Trust Agreement provides inter alia, for the receipt of contributions by the I.U.P.A.T. District Council 21 Annuity Fund for the purpose of providing pension and other related benefits to eligible workers and their families, in such form and amounts as the Trustees of the I.U.P.A.T. District Council 21 Annuity Fund may determine in conformity with the discretion vested in them under provisions set forth in the Trust Agreement. The EMPLOYER agrees to contribute for each EMPLOYEE covered by this Agreement to the Annuity Fund in the manner provided herein, in the then current amounts and for the periods as set forth in Article 5.
Annuity Fund i. Effective June 1, 1999, the parties agree to establish an annuity fund for all employees covered by the 1995 MCMEA. To be eligible to receive this annuity, an employee must be in active pay status at any time during the period June 1, 1996 through May 31, 1997. To receive payment, said employee must also be in active pay status on June 1, 1999
ii. The employer shall pay into the fund on behalf of full-time per annum and full-time per diem employees a daily amount of $2 for each paid working day up to a maximum of $522 per annum. For school-based 12-month employees who work at the Board of Education, the employer shall pay into the fund a daily amount of $2 for each paid working day up to a maximum of $522. For school-based 10-month employees who work at the Board of Education, the employer shall pay in to the fund a daily amount of $2 for each paid working day up to a maximum of $522 per annum. For school-based employees who work part-time at the Board of Education and for all other part-time employees who work less than the number of hours for their full-time equivalent title, the employer shall pay into the fund a daily amount of $2 for each paid working day based on a prorated amount which is calculated against the number of hours associated with their full-time equivalent title, up to a maximum of $522 per annum.
iii. For the purpose of this Article III-B, the eligibility for payments set forth in Section (ii) shall be based on working days between June 1, 1996 and May 31, 1997.
iv. For the purpose of this Article III-B, excluded from paid working days are all scheduled days off, all days in non-pay status, and all paid overtime.
v. Contributions hereunder shall be remitted by the employer no later than 120 days after June 1, 1999 to a mutually agreed upon annuity fund pursuant to the terms of a supplemental agreement to be reached by the parties subject to approval by the Corporation Counsel.
Annuity Fund. The Producer shall contribute to the IATSE Annuity Fund an amount equal to 5.5% of the applicable straight time hourly scale rate of pay for all hours worked or guaranteed on behalf of each employee.
Annuity Fund. “The Producer shall contribute to the ▇▇▇▇▇ ▇▇▇▇▇▇▇ Fund the sum of $10.00 per day on behalf of each such employee.
(b) For the Period September 28, 2025 to and including October 3, 2026: “The Producer shall contribute an aggregate daily contribution, which shall be allocated as provided in Article 9.C. or pursuant to Article 9.D.(6), of $176.50 on behalf of each such employee.
(c) For the Period October 4, 2026 to and including September 30, 2027:
C. Allocation of Fringe Contribution Increase
Annuity Fund. Effective June 1, 1999, the parties agree to establish an annuity fund for all employees covered by this Agreement.
Annuity Fund. The Employer agrees to make contributions to the Union Annuity Fund as per “Schedule A” annexed hereto. The Employer agrees to contribute twenty-five cents ($.25) per hour, per employee, for each hour worked by employees covered herein, to the Union Annuity Fund. The Employer agrees to contribute any other contribution specified in “Schedule A” annexed hereto, to the Annuity Fund on all hours worked or paid, including overtime hours, holiday and vacation.
Annuity Fund. Section 1. It is hereby mutually understood and agreed that commencing March 2, 2015 the Employer shall contribute as agreed and allocate as set forth hereinafter on the Fringe Benefit Schedule. Check in payment of said contributions shall be made payable to Local 137 Joint Fund’s account and shall be delivered to the Local 137 Fund’s Office by the 30th day of the following month.
(a) The Trustees selected to administer the Welfare Fund of the International Union of Operating Engineers, Local 137, 137A, 137B, 137C & 137R shall also be selected as Trustees to administer the Annuity Fund.
Section 2. Contributions shall be paid on all hours worked.
Annuity Fund. The Contractor agrees to pay into the Michigan Laborers' Annuity Fund the hourly contribution listed in Article V on each hour actually paid each employee doing work covered by this Agreement.
Annuity Fund. The University shall contribute to the Annuity Fund of IATSE Local One for each full- time and hourly employee, subject to exclusions for hourly employees, as set forth below who is covered by such Annuity Fund, as follows: