INFORMATION FOR THE NATIONAL BENEFIT FUND Sample Clauses

INFORMATION FOR THE NATIONAL BENEFIT FUND. The Hospital/University is providing the following information to share with the National Benefit Fund (NBF). The Hospital /University estimates that the wage increase in this Agreement will be sufficient to meet or exceed the funding levels of a three percent (3%) increase and a rate of twenty-three and two-tenths percent (23.2%) as required by Milliman, USA, the NBF Actuary, when combined with a lump sum payment of $50,000 payable upon ratification of this Agreement to the NBF for Employees in the Hospital and University bargaining units combined. The Hospital/University’s estimates are based on contributions for the period of this Agreement at a rate of 23.2% generated by base wage rates according to the following: - Incumbent Employee wage rates increasing by 2.75% retroactively to October 3, 2004. - Newly hired Employees after April 3, 2005 being paid according to Appendix C, Wage Schedule II, and - A one-time lump sum contribution of $50,000 payable to the NBF upon ratification of this Agreement. Executed this 17th day of March, 2005 for 1199 SEIU New York’s Health & Human Service Union, AFL-CIO Xxxxxx Xxxxxx President for Strong Memorial Hospital, URMC Xxxxxxx X. Xxxxxx Associate Vice President of Human Resources SIDE LETTERS (2007)
Sample 1
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