Benefits Fund. The University will contribute a lump sum amount of $176,000 within thirty (30) days of the ratification of this agreement, $177,760 in May 2021, and $179,538 in May 2022 to the Union for the purpose of maintaining a benefits fund that will be administered by the Union. The Union will provide the University with an annual statement of the benefit account.
Benefits Fund. The Trustee shall establish within the Trust a separate fund, hereinafter referred to as the “Benefits Fund”. The Benefits Fund shall consist of the portion of the Company’s contributions to the Trust that represent the Benefit Amount, or are otherwise designated for the Benefits Fund in writing at the time of contribution, together with all income, gains and losses and proceeds from the investment, reinvestment and sale thereof, less all payments therefrom and expenses charged thereto in accordance with the provisions of this Article VII. The Benefits Fund shall be held and administered by the Trustee for the purpose of paying Plan Participants benefits under the Plans in accordance with the provisions of this Article VII.
Benefits Fund. The University shall transfer one-time lump sum payments of $65,000.00 for each year of the collective agreement to the local union for the purpose of either purchasing benefits and/or reimbursing members of the bargaining unit for benefit related expenses. Subject to the terms of this Article, the University shall transfer one-time only lump sum amounts to the local union as follows: $80,000 by March 1st, 2018; $95,000 by March 1st, 2019; and $95,000 by March 1st, 2020 $95,000 by March 1st, 2021
Benefits Fund. The University shall transfer one-time lump sum payments of $32,500.00 and $65,000.00 to the local union for the purpose of either purchasing benefits and/or reimbursing members of the bargaining unit for benefit related expenses. The University shall transfer these one-time lump sums to the local union in the first week of January 2013 and January 2014 respectively. This Benefits Fund shall be managed and administered exclusively by the local union. The University’s sole and exclusive obligation in regards to this fund is to ensure that the agreed upon transfer of the lump sum payments occur as scheduled. The Union agrees to indemnify and save harmless the University from any and all claims, grievances or demands, including interest and penalties, made by the Canada Revenue Agency or by any employee as it relates to the administration and distribution of these funds.
Benefits Fund. During the lifetime of this Agreement and subject to all applicable laws it is agreed that the Union has the right to re- assign or transfer part of the welfare contribution as per Article XIII to the Pension Fund, as per said Article.
Benefits Fund. To assist tenured musicians in purchasing health insurance, the Opera shall contribute to the Xxxxxxx Center Opera House Orchestra/Washington National Opera Orchestra Benefits Fund a sum equal to the applicable percentage (as listed below) of the gross musicians’ payroll, whether tenured or not.
Benefits Fund. Note: The renewal Collective Agreement will be updated to reflect agreed upon adjustments to funds as set out above.
Benefits Fund. It may also include retirees and other persons who were formerly employees described in this section.
Benefits Fund. To assist tenured musicians in purchasing health insurance, the Center shall contribute a percentage of the Center’s Gross Musical Payroll to the Xxxxxxx Center Opera House Orchestra/The Washington National Opera Orchestra Benefits Fund. Health contributions shall be made at the following rates: 2013-2014: 11.0% 2014-2015: 11.0% 2015-2016: 11.0% 2016-2017: 11.0% To assist tenured musicians in purchasing instrument and disability insurance, the Center will contribute a percentage of the Center’s Gross Musical Payroll to the Benefits Fund. Instrument and disability insurance contributions shall be made at the following rates: 2013-2014: 0.75% 2014-2015: 0.75% 2015-2016: 0.75% 2016-2017: 0.75% The contributions will be used to provide additional benefits to orchestra members. To reflect the larger scope, the Xxxxxxx Center Orchestra Health Trust Fund has been renamed The Xxxxxxx Center Opera House Orchestra/The Washington National Opera Orchestra Benefits Fund.
Benefits Fund. 25.1 Effective April 1, 2019, the State shall contribute a non-recurring, one-time lump sum appropriation in the amount of $60,825 for remittance to the Union’s Benefits Fund.
