CONTRIBUTIONS TO INDIVIDUAL ACCOUNT FUND Sample Clauses

CONTRIBUTIONS TO INDIVIDUAL ACCOUNT FUND. The individual Employer shall contribute and forward monthly to the Electrical Workers Local No. 26 Individual Account Fund an amount equal to three dollars and thirty cents ($3.30) per hour for each hour worked, on behalf of each Journeyman Xxxxxxx, and ninety-five cents ($0.95) per hour for each hour worked, on behalf of each 3rd Period through 6th Period Apprentice. The Journeyman Xxxxxxx contribution shall increase for as follows: Effective Date Contribution Rate June 3, 2019 $3.50 November 4, 2019 $3.75 June 1, 2020 $4.00 No contribution will be made on behalf of first year (1st Period and 2nd Period) apprentices, nor on behalf of unindentureds. All contributions will be paid only at the straight-time rate for all hours worked by participating employees in the bargaining unit. The Employer shall forward a completed payroll report as prescribed by the Trustees of said Fund. The payment and payroll report shall be mailed, postage prepaid, so as to reach the Trustees or their designated agent not later than thirty calendar days following the end of each calendar month. Sanctions and enforcement provisions for failure to remit payments to this Fund are set forth in Article XIII of this Agreement and/or in the Trust Fund Agreement and/or in the Benefit Funds Agreement.
Sample 1
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CONTRIBUTIONS TO INDIVIDUAL ACCOUNT FUND. The individual Employer shall contribute and forward monthly to the Electrical Workers Local No. 26 Individual Account Fund the following amounts, which the Employer is obligated to pay on behalf of specified Employees in this bargaining unit per hour for each hour worked: Journeyman Xxxxxxx: $2.75 Apprentice: $1.00 No contribution will be made on behalf of first year apprentices, nor on behalf of unindentured. All contributions will be paid only at the straight-time rate for all hours worked by participating employees in the bargaining unit. The Employer shall forward a completed payroll report as prescribed by the Trustees of said Fund. The payment and payroll report shall be mailed, postage prepaid, so as to reach the Trustees or their designated agent not later than thirty calendar days following the end of each calendar month. Sanctions and enforcement provisions for failure to remit payments to this Fund are set forth in Article VII of this Agreement and/or in the Trust Fund Agreement and/or in the Benefit Funds Agreement.
Sample 1

Related to CONTRIBUTIONS TO INDIVIDUAL ACCOUNT FUND

  • Individual Account An individual account is an account owned by you alone, which you as the account owner use during your lifetime.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Deferral Account 3.1 Establishing and Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

  • Individual Accounts An individual account is an account owned by one depositor including any individual, corporation, partnership, trust, or other organization qualified for Credit Union membership. If the account is an individual account, the interest of a deceased individual owner will pass, subject to applicable law, to the decedent’s estate or payable on death (“POD”) beneficiary, if applicable.

  • New Individual Accounts The following rules and procedures apply for purposes of identifying U.S. Reportable Accounts among Financial Accounts held by individuals and opened on or after July 1, 2014 (“New Individual Accounts”).

  • Other New Individual Accounts With respect to New Individual Accounts not described in paragraph A of this section, upon account opening (or within 90 days after the end of the calendar year in which the account ceases to be described in paragraph A of this section), the Reporting Finnish Financial Institution must obtain a self-certification, which may be part of the account opening documentation, that allows the Reporting Finnish Financial Institution to determine whether the Account Holder is resident in the United States for tax purposes (for this purpose, a U.S. citizen is considered to be resident in the United States for tax purposes, even if the Account Holder is also a tax resident of another jurisdiction) and confirm the reasonableness of such self-certification based on the information obtained by the Reporting Finnish Financial Institution in connection with the opening of the account, including any documentation collected pursuant to AML/KYC Procedures.

  • Rollover Contributions A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If you receive a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.

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