Board of Administration of the Plan Sample Clauses
The "Board of Administration of the Plan" clause establishes a governing body responsible for overseeing and managing the operations of a specific plan, such as an employee benefit or retirement plan. This board typically has the authority to interpret plan provisions, make decisions regarding eligibility and benefits, and ensure compliance with relevant laws and regulations. By centralizing decision-making and administrative duties, the clause ensures consistent management and accountability, helping to resolve disputes and maintain the plan’s integrity.
Board of Administration of the Plan. (a) Composition and Procedure
(i) There shall be established a Board of Administration of the Plan consisting of six (6) members, three (3) of whom shall be appointed by the Company (hereinafter referred to as the Company members) and three (3) of whom shall be appointed by the union (hereinafter referred to as the union members). Each member of the Board shall have an alternate. In the event a member is absent from a meeting of the Board, his/her alternate may attend, and when in attendance, shall exercise the powers and perform the duties of such member. Either the Company or the union at any time may remove a member appointed by it and may appoint a member to fill any vacancy among the members appointed by it. The Company and the union each shall notify the other in writing of the members respectively appointed by it before any such appointment shall be effective.
(ii) The members of the Board shall appoint an Impartial Chairperson, who shall serve until requested in writing to resign by three (3) members of the Board. In the event that the members of the Board are unable to agree upon such Chairperson, the Umpire under the Collective Agreement shall make the appointment; provided, however, that the Company and union members may, by agreement, request such Umpire to serve as the Impartial Chairperson of the Board. The Impartial Chairperson shall be considered a member of the Board, and shall vote only in matters within the Board's authority to determine where the other members of the Board shall have been unable to dispose of a matter by majority vote, except that the Impartial Chairperson shall have no vote concerning determinations made in connection with section 1.01(c)(v). The Chairperson shall not be bound to attend routine meetings of the Board. He/she need only attend special meetings at which the Board will reconsider those matters not disposed of by majority vote (hereinafter called "disputed matters").
(iii) At least two (2) union members and two (2) company members shall be required to be present at any meeting of the Board in order to constitute a quorum for the transaction of business. At all meetings of the Board the Company members shall have a total of three (3) votes and the union members shall have a total of three (3) votes, the vote of any absent member being divided equally between the members present appointed by the same party. Decisions of the Board shall be by a majority of the votes cast.
(iv) Neither the Board nor any Local S....
Board of Administration of the Plan