BUILDING TRADES FEDERAL CREDIT UNION. Effective August 1, 2006, the Employer shall pay to the employee, by paying to an account maintained in his/her name at the Building Trades Federal Credit Union, (BTFCU) an amount of one dollar five cents ($1.05) for each hour compensated for. The amount is to be paid to the Building Trades Federal Credit Union by remitting said amount along with other contributions to the existing (lock box) account. The accounts held in each employee’s name by the Building Trades Federal Credit Union shall be subject to such rules and regulations as the Building Trades Federal Credit Union had adopted or may adopt pursuant to its charter. The employer’s responsibility under this section shall be to pay the amount described above. This vacation pay shall be exempt from the timeliness provision of the grievance and arbitration clause. Claims for non-payment of vacation contributions shall be filed with the LMCC pursuant to Articles 16 and 17 as soon as possible but in no event not later than 6 months from the last pay out date unless extenuating circumstances prevent filing them. In the event of non-payment of vacation contributions to any Employee, a late penalty of 10% plus prevailing account interest rate shall be due and payable to claimant.
Appears in 5 contracts
Samples: Master Labor Agreement, Master Labor Agreement, Master Labor Agreement
