Common use of Benefit Increases Clause in Contracts

Benefit Increases. During negotiations in 2022 the Employer advised that as of October 31, 2021 there was a surplus of $18759.58 in the benefits account. As a result of that surplus benefit costs were not increased for the following year. The parties agreed during negotiations to defer the discussion on benefit increase until the later in 2022 when the new potential surplus costs are reported. The parties have agreed to meet in late 2022 to discuss the re-allocation of potential surplus funds should they exist in effort to increase different areas of the benefit plan. Any increases to benefits will be mutually agreed between the parties however Dental benefits have been tagged as a priority.