Common use of Bridging Supplement Clause in Contracts

Bridging Supplement. Effective September 1, 2007 a bridging supplement will be introduced under the following terms: Active employees who have worked more than twenty-five (25) years for the Company and who retire at age sixty (60) or later will be eligible for a bridging supplement equal to fifteen dollars ($15) per month per year of service to a maximum of thirty (30) years of service. The above bridging supplement will be paid on a monthly basis until the attainment of age sixty-five (65) or the death of the retiree, whichever occurs first. The bridging amount is paid by the Company to eligible members. It is the Company’s responsibility in consultation with the Pension Committee, to select the Financial Institution where the contributions are deposited. Parties agree to temporarily change the bridging supplement from $15.00 to $20.00 effective date of ratification. This amount will be reduced to $15.00 on October 31, 2018.

Bridging Supplement. Effective September 1, 2007 a bridging supplement will be introduced under the following terms: Active employees who have worked more than twenty-five (25) years for the Company and who retire at age sixty (60) or later will be eligible for a bridging supplement equal to fifteen dollars ($15) per month per year of service to a maximum of thirty (30) years of service. The above bridging supplement will be paid on a monthly basis until the attainment of age sixty-five (65) or the death of the retiree, whichever occurs first. The bridging amount is paid by the Company to eligible members. It is the Company’s responsibility in consultation with the Pension Committee, to select the Financial Institution where the contributions are deposited. Parties agree to temporarily change the bridging supplement from $15.00 to $20.00 effective date of ratification. This amount will be reduced to $15.00 on October 31, 2018.