Central Pension Fund. The EMPLOYER and the UNION agree that an amount designated herein that would otherwise be paid in salary or wages will be contributed instead to the Central Pension Fund (CPF) as pretax employer contributions. A pension contribution of ninety-six cents ($0.96) per hour will be made for each employee, for a maximum of two thousand eighty hours (2080) per calendar year. The hourly contribution rate will be applied to every hour compensated (i.e. Hours worked, PTO, and holidays) except for overtime hours worked. The EMPLOYER shall deduct seventy-six dollars and eighty cents ($76.80) every eight (80) hour pay period. The EMPLOYER shall pay this contribution directly to the IUOE Central Pension Fund. The UNION agrees to indemnify and hold the EMPLOYER, its Officers, Agents, and employees harmless against any claims, suits, orders or judgments, brought against the EMPLOYER as a result of any action taken or not taken by the EMPLOYER on the specific provisions of this Article. This "hold harmless" clause does not hold the EMPLOYER harmless for failing to transfer the agreed contributions to the IUOE Central Pension Fund. It is agreed that for purposes of determining future wage rates, the EMPLOYER shall first restore the amount of the wage reduction, which is currently the CPF contribution rate of $0.96 per hour, then apply the applicable wage multiplier, then reduce the revised wage by the CPF contribution rate. It is further agreed that for purposes of calculating overtime compensation the EMPLOYER shall first restore the amount of the wage reduction ($0.96/ hr.) then apply the applicable 1.5 or
Central Pension Fund. The Employer and the Union explored the feasibility and processes necessary for implementation of the language and contributions required for employee participation in the International Union of Operating Engineers Central Pension Fund. The Employer and the Union determined that it was in the best interests of the employees to reduce their wages in order to allow Union members to participate in the International Union of Operating Engineers Central Pension Fund. The parties agree that the amount, which would otherwise be paid in salary or wages will be contributed instead to the International Union of Operating Engineers Central Pension Fund as pre-tax employer contributions. The International Union of Operating Engineers Central Pension Fund is a supplemental pension fund authorized by Minnesota Statutes, Section 356.24, Subdivision 1(10). Employee wage reductions are the sole source of contributions to the International Union of Operating Engineers Central Pension Fund. The Union, in its sole discretion, may no more than one time each year decide, based on the final negotiated wage settlement, to increase the CPF hourly contribution rate. At the request of the Union, a pension contribution of one dollar ($1.00) per hour for all hours paid, including hours “detailed” to other classifications titles will commence effective January 1, 2008. For the purpose of determining “detail” wages, the IUOE wage reduced for pension purposes shall form the base, exclusive of premiums, differentials, and/or longevity. The Employer in its sole discretion shall determine the most efficient manner to reconcile “detail” related contributions. The Employer shall pay this contribution directly to the International Union of Operating Engineers Central Pension Fund. The Union agrees to indemnify, defend, and hold the Employer, its officers, agents and employees harmless against any and all claims, suits, orders and judgments brought or issued against the Employer, its officers, agents and employees as a result of any malfeasance, misfeasance or nonfeasance by the CPF, its trustees, agents or authorized representatives in their fiduciary role or arising from any City employee’s legal challenge to the right to make such pension contributions on his or her behalf. Neither party will seek to cease the CPF pension participation without written agreement from the other party. This hold harmless clause does not hold the employer harmless for failing to electronically transfer the agree...
Central Pension Fund. During the continuance of this collective bargaining agreement, the employer shall pay into the “Central Pension Fund of the International Union of Operating Engineers and Participating Employers”, on the account of each member of the bargaining unit, a monthly sum for each employee who is on the payroll of the Employer during the month prior to the one currently being paid and worked or was paid for eighty (80) hours during the prior month: Effective (Based on hours) $.50 per compensable hours Each year the bargaining unit may determine an increase to the contribution of the Central Pension Fund out of their wage increase. Any changes in the Central Pension Fund contribution will be transmitted to the School District in writing.
Central Pension Fund. If the majority of the bargaining unit members vote to do so, 13 employees will divert up to $1.00 per hour of their wages to the Central Pension Fund of the 14 International Union of Operating Engineers and Participating Employers, on the account of each 15 member unit. The purpose of said payments shall be to provide retirement benefits for eligible 16 employees pursuant to the provisions of said Pension Fund. The Union may increase the contribution 17 amount to be diverted to the fund once annually, if so elected by the membership, by written 18 notification to the employer.
Central Pension Fund. The District shall pay into the Central Pension Fund of the International Union of Operating Engineers and Participating Employers, on the account of each member of the bargaining unit, an hourly sum for every hour for which compensation was paid. The purpose of said payments shall be to provide retirement benefits for eligible employees pursuant to the provisions of said pension fund. The stipulated amount of any said sum and the designated effective date for payment of any said sum and the effective date for payment of any said sum is defined and set forth on the following basis: Pay an hourly sum of sixty cents ($0.60) per compensable hour for all bargaining unit employees, to be deducted from each employee’s negotiated wages. The District and the Union agree to be bound by the respective Agreement and Declaration of Trust entered into on the date set forth herein for each fund, as of September 7, 1960, establishing the Central Pension fund of the International Union of Operating Engineers and Participating Employers, and by any amendments to either said Trust Agreement, heretofore and hereafter adopted. The Employer and Union consent to and accept the terms, conditions and provisions of each written Trust Agreement and as amended, creating each said fund. The Employer and Union agree that the Trustees named in each said Trust Agreement and their successors are and shall be its representatives and the Employer and Union consent to be bound by the acts of said Trustees and successor Trustees made pursuant to and in carrying out the provisions of said Trust Agreement. This Article may be modified during the term of this Agreement if there is written agreement to do so signed by both parties. The Unions membership may alter the amount to be deducted no more than once per year with District consent. APPENDIX B: CULINARY SERVICES CLASSIFICATIONS This appendix is supplemental to the parties’ collective bargaining agreement; it shall apply exclusively to those classifications identified and set forth herein.
Central Pension Fund. A. Effective May 1, 2003, the County and the Union have explored the feasibility and process necessary for implementation of the language and contributions required for Employee participation in the International Union of Operating Engineers Central Pension Fund (hereinafter CPF). The CPF is a supplemental Pension Fund authorized by Minnesota Statutes, § 356.24, subdivision 1(10). The County agrees to deduct an hourly amount/rate determined by the union to be contributed into the Central Pension Fund. The hourly contribution amount/rate will be applied to every hour compensated (i.e. hours worked, vacation, holiday and sick time.)
Central Pension Fund. The Union agrees to indemnify and hold the Employer, its Officers, Agents, and Employees harmless against any claims, suits, orders or judgments, brought against the Employer as a result of any action taken or not taken by the Employer on the specific provisions of this Article. This “hold harmless” clause does not hold the Employer harmless for failing to transfer the agreed contributions to the I.U.O.E.
Central Pension Fund. The CPF Plan of Benefits and the Agreement and Declaration of Trust will serve as governing documents.
Central Pension Fund. The Employer agrees to administer Employee contributions to the International Union of Operating Engineers Central Pension Fund (CPF) subject to successful future negotiation of a letter of understanding.
Central Pension Fund. It is agreed that for purposes of determining future wage rates, the Employer shall first restore the amount of wage reduction, which is currently the CPF contribution rate. It is further agreed that for purposes of calculating overtime compensation the Employer shall first restore the amount of the wage reduction then apply the applicable 1.5 wage multiplier required under the Fair Labor Standards Act and the collective bargaining agreement, then pay the resulting amount for overtime worked. The contribution rate per hour prevents any employee’s annual CPF contributions from exceeding $5000.00 in a year and therefore complies with limitations set forth under Minnesota Statute §356.24, subdivision 1(10) as amended in 2005. Members, by majority vote, may change the contribution rate at any time during the life of the Agreement, accompanied by a sixty (60) day notice to the employer. The Union and the Employer will work together to implement member approved changes as soon as practicable. This Letter of Understanding serves to detail the terms and conditions of pension contributions and express the undersigned parties’ understanding thereof. The CPF Plan of Benefits and the Agreement and Declaration of Trust will serve as the governing documents. This Memorandum will remain in effect from January 1, 2020 through December 31, 2022. As of January 1, 2020, this Memorandum may be extended, modified, or eliminated at either party’s request. I.U.O.E. LOCAL #49 2020 – 2022 Agreement APPENDIX D
