Benefits Trust Fund Sample Clauses

Benefits Trust Fund. Purpose The Employer will transfer three million and two hundred thousand dollars ($3,200,000) in total for Units B, C & D to the Benefits Trust Fund. The Union agrees that the funds which are made available by the Board will be used only for the purposes of providing health and/or welfare benefits and for other benevolent purposes on behalf of the members of Local 4400 and will not be used to fund any of the benefits provided under this Collective Agreement. The Union will establish a trust fund or other mechanism as may be necessary for the purpose of administering this fund and establishing the terms and conditions under which such payments may be provided. It is understood that the funds will not be expended for political or other such related purposes or activities or to fund grievances under the Collective Agreement.
Sample 1Sample 2
AutoNDA by SimpleDocs
Benefits Trust Fund. The Union agrees that the funds which are made available by the Employer will be used only for the purposes of providing health and/or welfare benefits and for other benevolent purposes on behalf of Permanent Employees and Temporary Employees who do not receive ICI rates of pay, and will not be used to fund any of the benefits provided under this Collective Agreement. The Union will establish a Trust Fund or other mechanism as may be necessary for the purpose of administering this Fund and establishing the terms and conditions under which such payments may be provided. It is understood that the funds will not be expended for political or other such related purposes or activities including administrative costs (excluding costs to set up the Fund and ongoing accounting fees) or to fund grievances under this Collective Agreement.
Sample 1
Benefits Trust Fund. The Employer agrees that during the course of this Collective Agreement, it will study the terms and conditions of the SEIU Locals 1 & 2 Benefit Trust Fund and will meet with Global Benefits representatives in this regard. It is understood that this letter of understanding does not obligate the Employer to participate in the Benefit Trust Fund unless an agreement is reached between the parties to that effect. SIGNED AND DATED AT THIS DAY OF 2009. FOR THE UNION FOR THE EMPLOYER Filename: May 12 09-#533 Cheshire DRAFT exp Mar 31 12 remove bold prepare for signing (2).doc Directory: C:\Documents and Settings\karanni\Local Settings\Temporary Internet Files\OLK8 Template: C:\Documents and Settings\Karanni\Application Data\Microsoft\Templates\Xxxxxx.xxx Title: FILE NO Subject: Author: xxxxx Keywords: Comments: Creation Date: 11/18/2011 9:14:00 AM Change Number: 2 Last Saved On: 11/18/2011 9:14:00 AM Last Saved By: hugheshe Total Editing Time: 2 Minutes Last Printed On: 01/10/2012 1:48:00 PM As of Last Complete Printing Number of Pages:25
Sample 1

Related to Benefits Trust Fund

  • Pension Trust Fund Contingent upon the Fund being jointly and equally trusteed, the Employer shall contribute to the International Union of Operating Engineers Local 870 Pension Trust Fund in accordance with the attached Appendix A and forming part of this Agreement.

  • The Trust Fund Xxxxxx Mae, acting in its capacity as Trustee for the Lower Tier REMIC, does hereby transfer, assign, set over and otherwise convey to Xxxxxx Xxx, acting in its capacity as Trustee for the Trust Fund established hereby, all of Xxxxxx Mae’s right, title and interest in and to the Lower Tier Regular Classes, including all payments of principal and interest thereon received after the month of the Issue Date.

  • The Unemployment Trust Fund 8.3.1 The State shall use the following method to calculate State interest liabilities on funds withdrawn from the several accounts in the Unemployment Trust Fund: The State shall use the following methodology to calculate State interest liabilities on funds withdrawn from the several accounts in the UTF under the Unemployment Insurance program. Based on statements provided by its financial institution, or other appropriate source, the State shall determine the actual interest earnings and the related banking costs attributable to funds withdrawn from its account in the UTF. At the end of the State's fiscal year, the State shall calculate the percentage of its total unemployment compensation expenditures for (1) funds withdrawn from the State account in the UTF, or the State %, and (2) funds withdrawn from the Federal Employees Compensation Account (FECA) and the Extended Unemployment Compensation Account (EUCA) and any other accounts of Federal funds in the UTF, or the Federal %. The State shall calculate the actual interest earnings and the related banking costs attributable to funds withdrawn from the State account in the UTF by multiplying the State % by the amount of the actual interest earnings and the related banking costs of the account as a whole. The State's liability for interest on funds withdrawn from its account in the UTF shall consist of the actual interest earnings attributable to such funds less the related banking costs attributed to such funds. The State shall determine the average daily cash balance of its unemployment compensation benefit payment account for its fiscal year. The State shall calculate the average daily cash balance of Federal funds by multiplying the Federal % by the average daily cash balance of the benefit payment account on the whole. The State's liability for interest on funds withdrawn from the FECA and EUCA (and any other benefit accounts of Federal funds in the UTF from which the State draws funds) shall be the average daily cash balance of Federal funds multiplied by the annualized rate equal to the average equivalent yields of 13-week Treasury bills auctioned during the State's fiscal year.

  • Trust Fund The Buyer is a trust fund whose trustee is a bank or trust company and whose participants are exclusively (a) plans established and maintained by a State, its political subdivisions, or any agency or instrumentality of the State or its political subdivisions, for the benefit of its employees, or (b) employee benefit plans within the meaning of Title I of the Employee Retirement Income Security Act of 1974, but is not a trust fund that includes as participants individual retirement accounts or H.R. 10 plans.

  • Training Trust Fund Section 1. On work covered by this Agreement, the Employer agrees to pay into the Indiana Laborers Training Trust Fund the amount in cents per hour as shown in Article

  • Retirement Fund The sum of $ 7.90, May 1, 2019 (May 1, 2020 $8.07; May 1, 2021 $ 8.24) per paid hour; ex- cept that Apprentices starting after April 30, 1997 will have this amount pro-rated in ac- cordance with their term level;

  • TRUST FUNDS The Owner hereby gives power to the Agent to deposit all receipts collected for the Owner, less any sums properly deducted or disbursed, in a financial institution whose deposits are insured by an agency of the United States government. The funds shall be held in a trust account separate from the Agent’s personal accounts. The Agent shall not be liable in the event of a bankruptcy or failure of a financial institution. All funds managed under this section must be done so in accordance with applicable law.

  • Trustee Compensation The Trustees as such shall be entitled to reasonable compensation from the Trust. They may fix the amount of their compensation. Nothing herein shall in any way prevent the employment of any Trustee for advisory, management, administrative, legal, accounting, investment banking, underwriting, brokerage, or investment dealer or other services and the payment for the same by the Trust.

  • Health and Welfare Trust Fund Contingent upon the Fund being jointly and equally trusteed, the Employer shall contribute to the International Union of Operating Engineers Local 870 Health and Welfare Trust Fund in accordance with the attached Appendix A and forming part of this Agreement.

  • Supplemental Benefits The employer shall maintain a “Supplemental Unemployment Benefits Plan” pursuant to the Employment Insurance Act and Regulations. The employer shall make amendments as appropriate to ensure that the Plan provides the maximum permissible benefits in conjunction with Article 17.03.

Time is Money Join Law Insider Premium to draft better contracts faster.