Benefit Trust Sample Clauses
A Benefit Trust clause establishes a legal arrangement in which assets or funds are held by a trustee for the benefit of designated beneficiaries, often employees or participants in a benefit plan. In practice, this clause outlines how contributions are made to the trust, how the trustee manages and distributes the assets, and under what conditions beneficiaries can access the benefits. The core function of a Benefit Trust clause is to ensure that funds set aside for specific benefits are protected and managed independently, providing security and transparency for beneficiaries and reducing the risk of misuse by the employer or plan sponsor.
Benefit Trust. The benefits of this Article shall be administered by the Union Benefits Trust. Except for established payroll deductions for programs and organizations in effect on the effective date of this Agreement, along with any deductions, no additional payroll deductions for dues, fees or contributions shall be provided to any individual or organization without the prior written consent of the Union and the Employer.
Benefit Trust. 48 1. All parties acknowledge that these benefits are secured through the District in conjunction with 49 S.I.G. employee benefit trust. 50
51 2. In the event the District, in conjunction with S.I.G., determines that equal or better benefits and 52 service at more favorable rates could be obtained by contracting with different insurance 53 companies and/or third party administrators, the District may make that change in conjunction 54 with S.I.G., provided the benefits article in this contract is not changed without negotiations.
Benefit Trust. The Parties have agreed to participate in the Public Education Benefits Trust (PEBT) and to place their dental, extended health and group life insurance coverage specified in this Article with the PEBT.
Benefit Trust. (a) The Company acknowledges and agrees that Benefit Trust (and its Authorized Persons, as defined below)·shall be authorized, and is hereby authorized, to (i) transact (including, without limitation, giving instructions for the purchase, sale, exchange, and transfer of shares of the Portfolios), and submit other instructions with respect to, the Vanguard Account(s), including, without limitation, submitting instructions, information requests, transaction requests, and administrative requests (regardless of how received) with respect to each such Vanguard Account, (ii) open and register accounts in the Portfolios in connection with the Company and the Accounts, and (iii) sign any required documentation in connection with any of the foregoing, without any obligation on the part of the Sponsor, the Distributor or the Fund to confirm any such action with the Company, or to confirm that such action was at the direction of, or authorized by, the Company or any Account. Without limiting the foregoing, Benefit Trust shall be able to perform, with respect to the Vanguard Accounts, any activity permitted under the Benefit Trust DCC&S Agreement or that an intermediary is permitted to perform under the Sponsor’s then-current applicable policies and procedures. With respect to all requests and instructions (including, without limitation, any transaction instructions) believed by TRANSAMERICA PREMIER LIFE INSURANCE COMPANY AMENDMENT TO ▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ the Sponsor to have been received by it from Benefit Trust or its Authorized Persons in connection with a Vanguard Account (regardless of how received), the Sponsor shall be authorized and entitled to rely and act upon such requests and instructions (and shall not be obligated to notify or consult the Company regarding such requests and instructions), and the Sponsor, the Distributor, and the Fund shall have no liability to the Company or the Accounts in connection with any actions taken in accordance with such requests and instructions. All orders, and any other transactions or other activity, received by the Sponsor through the National Securities Clearing Corporation’s Fund/SERV or NETWORKING systems in relation to the Vanguard Accounts shall be deemed to have been submitted to the Sponsor by Benefit Trust. The Company acknowledges that, pursuant to the Sponsor’s requirements, Benefit Trust will designate persons entitled to act on Benefit Trust’s behalf (such designated persons, Benefit Trust’s “Authorized Persons”).
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Benefit Trust. A. The District will deduct from the salaries of those unit members participating in the Trust an amount authorized by said unit members on Benefit Trust forms.
B. The deductions will commence on the second pay period of the school year and will continue for twenty (20) consecutive pay periods in a school year.
C. The authorization may be amended or withdrawn at the discretion of the unit member.
D. The monies deducted will be forwarded by the District to the NYSUT Benefit Trust as deducted.
Benefit Trust. The District agrees that upon receipt of a properly signed payroll deduction authorization form, to deduct the amount so specified for deduction to the NYSUT Benefit Trust. Procedures to be established by mutual agreement of the parties.
Benefit Trust. 1. The District will make the following contributions for each teacher to the Benefit Trust Fund: Effective July 1, 2020, the figure shall be $1,415.00. Effective July 1, 2021, the figure shall be $1,415.00.
2. Effective July 1, 2010, the District shall contribute to the Benefit Trust on behalf of the nurses on the same terms as other bargaining unit members.
Benefit Trust. NYSUT Benefit Trust deductions will be allowed in the automatic payroll deduction. Designation and Payroll Deduction Authorization
Benefit Trust. The District will deduct from the salaries of those unit members participating in the Benefit Trust an amount authorized by said unit member on Benefit Trust forms. The deductions will commence on the second pay period of the school year and will continue for twenty (20) consecutive pay periods in a school year. The authorization may be amended or withdrawn at the discretion of the unit member. The monies deducted will be forwarded by the District to the NYSUT Benefit Trust as deducted. VOTE/COPE The district shall deduct from the payroll checks of individual unit members monies for VOTE/COPE. Each member who voluntarily elects to have such deduction shall sign an appropriate authorization card in triplicate. Funds so collected shall be forwarded directly to VOTE/COPE by the District and shall be accompanied by information required by applicable state or federal laws.
Benefit Trust. A. During the 2021-22, 2022-23 and 2023-24 school years, the Board will contribute to the Scarsdale Teachers Association, Inc. Benefit Trust Fund the sum of $1,976 for each bargaining unit member employed by the Board on a half-time or greater basis. Such payments shall be made to the Fund in each year in two equal payments, one payment by October 1st and the second payment by January 1st . During the 2024-25 school year, the Board contribution shall be the same as that applicable to the Scarsdale Teachers Association.
B. By October 1st of each of the years of this Agreement, the Board shall provide the sum of one-thousand dollars ($1,000) to be used as an insurance fund for personal property loss or damage suffered by Bargaining Unit Members. This fund shall be administered under and pursuant to the agreement and declaration of trust and the collateral agreement described in paragraph A of this Article.