Pension Fund. 1. The Employer shall make contributions to a pension trust fund known as the “Building Service 32BJ Pension Fund” to cover bargaining unit employees who are regularly employed twenty (20) or more hours per week, including paid time off. The Employer shall also make contributions on behalf of other bargaining unit employees to the extent that such employees work a sufficient number of hours to require benefit accrual pursuant to Section 204 of ERISA. Employees unable to work and who are on statutory short term disability benefits or workers’ compensation shall continue to accrue pension credits without employer contributions during the periods of disability up to six (6) months or the period of disability whichever is earlier.
2. The Employer shall pay into the Fund the sum of $94.75 per week for every regular employee as defined in the Building Service Pension Plan, as it may be amended, except as provided in Section 4 hereof.
3. Effective January 1, 2015, the Employer shall pay into the Fund the sum of $98.75 per week for every regular employee.
4. If the Employer has in effect a pension and retirement plan which has been determined to provide benefits equivalent or superior to those provided under the Building Service 32BJ Pension Plan, it may continue such plan provided it continues to provide retirement benefits equivalent or superior to the benefits that are provided under the Building Service 32BJ Pension Plan during the term of this agreement, and it shall be relieved of any obligation to make payments into the Fund.
5. Any Employer who becomes party to this Agreement and who immediately prior thereto has a pension plan in effect which provides benefits equivalent to or better than the benefits provided herein, may, upon agreement of the Union and RAB, cover his/her employees under its existing plan in lieu of this Fund and be relieved of the obligation to make contributions to the Fund for the period of such other coverage.
6. In no event shall the Trustees or any of them, the Union or the RAB, directly or indirectly, by reason of this agreement, be understood to consent to the extinguishment, change or diminution of any legal rights, vested or otherwise, that anyone may have in the continuation in existing form of any such Employer pension plan, and the Trustees or any of them, the Union and the RAB shall be held harmless by an Employer against any action brought by anyone covered under such Employer’s plan asserting a claim based upon anything d...
Pension Fund in accordance with the following components: The Company’s provisions for severance pay – 8.33% of the Salary; the Company’s provisions for compensation - 6.5% of the Salary; the Manager’s provisions for compensation - 6% of the Salary.
Pension Fund. The Company shall establish a Pension Fund for the purpose of providing the pension benefits under this Agreement. Such fund shall be either a trust fund, or an insured fund, or a combination thereof. The Company shall pay currently into the pension fund, such amounts as the actuary, retained by the Company for the purposes of the plan, shall certify to be necessary to provide the current service costs and for amortization within the period prescribed by law of any unfunded liability or experience deficiency after taking into consideration the assets of the Pension Fund and such other factors as may be deemed relevant. The Company at its option may, from time to time, pay into the Pension Fund additional amounts.
Pension Fund. Section 1 The Employer agrees to continue to make payments to the New England Teamsters and Trucking Industry Pension Fund for each employee covered by this Agreement as follows:
(a) Commencing with the first day of August, 2008, and for the duration of the current Collective Bargaining Agreement between Local Unions and the Employer and any renewals or extensions thereof, the Employer agrees to make payments to the New England Teamsters and Trucking Industry Pension Fund for each and every employee performing work within the scope of and/or covered by this Collective Bargaining Agreement whether such employee is a seniority, probationary, temporary or casual employee, irrespective of his status as a member or a nonmember of the Local Union, from the first hour of employment subject to this Collective Bargaining Agreement as follows: Commencing with the first day of August, 2007, the said hourly contribution rate shall be $5.26 but not more than $210.40 per week for any one employee Commencing with the first day of August, 2008, the said hourly contribution rate shall be $ * but not more than $ * per week for any one employee. Commencing with the first day of August, 2009, the said hourly contribution rate shall be $ * but not more than $ * per week for any one employee. Commencing with the first day of August, 2010, the said hourly contribution rate shall be $ * but not more than $ * per week for any one employee. Commencing with the first day of August, 2011, the said hourly contribution rate shall be $ * but not more than $ * per week for any one employee. Commencing with the first day of August, 2012, the said hourly contribution rate shall be $ * but not more than $ * per week for any one employee. * Subsequent contribution increases will be made pursuant to the terms and conditions outlined in Article #34 of the National Master Agreement for the life of this agreement Commencing with the first day of August, 2008 and for the duration of the current Collective Bargaining Agreement and any renewals or extensions thereof, the Employer agrees to make payments to the New England Teamsters and Trucking Industry Pension Fund as follows:
1. The Employer agrees to make contributions up to a maximum of forty (40) hours on behalf of a seniority full-time employee who may be on layoff status during any payroll period but has complet- ed three (3) days of work in that payroll period and;
2. The Employer agrees to make contributions up to a maximum of twenty (20)...
Pension Fund. Any issue related to the pension of ATU 107 members addressed in this Collective Agreement shall be referred to the settlement reached on December 22, 2008.
17.01 It is mutually agreed that the terms and conditions of the City (HSR) Pension Plan as incorporated in Group Pension Policy No. 253344 shall be considered as incorporated in this agreement. Membership shall be compulsory for all regular Employees on the completion of 6 months' service.
17.02 The Canada Pension Plan will be operated in conjunction with Group Pension Policy No. 253344 with combined contributions equal to seven and one half percent (7.5%) of an Employee's earnings as defined in the Pension Plan. Optional for members of the Plan who made the election by July 1, 1969, requisite for any new Employee entrants into the Plan after April 9, 1969.
(1) The City (HSR) agrees to apply the following indexing formula (75% C.P.I.) - 1.5% to the HSR/CCL pension fund. Indexing is applicable to all active Employees of Local 107 - A.T.U., HSR/CCL at the time of ratification and all future Employees of Local 107 - A.T.U., HSR/CCL Indexing does not apply to retired Employees at this ratification date.
(2) Indexing is effective the first (1st) day of the month following six (6) complete months from the date of ratification of this collective agreement.
(3) Indexing is capped at six percent (6%) per annum which is based on an inflation rate of ten (10%) (C.P.I.).
(4) The level of indexing will be based on the percentage increase in the C.P.I. for the preceding calendar year subject to a maximum indexing level of six percent (6%) per annum based on a C.P.I. increase of ten percent (10%).
(5) The level of increase in C.P.I. used in determining the indexing per cent is the increase as reported by Statistics Canada for all items for Canada for the preceding year. Pension indexes will be applied May 1 of each year.
17.03 Current Employees at the date of ratification (January 19, 1999) whose Earliest Unreduced Pension Date falls beyond their sixty-fourth (64th) birthday and who elect to retire under the Pension Plan, whether early or normal after having attained the age of fifty-five (55) years, will be paid the difference between the Bridging Enhancement benefit amount and the retirement gratuity amount. The calculation of the retirement gratuity will be as follows: Having completed fifteen (15) years' service, retirement gratuity equivalent to one (1) months' pay (calculated based on 22 working days per month...
Pension Fund. See fund above.
Pension Fund. The Union and the Employers agree to the establishment of a Pension Fund and, pursuant thereto, have agreed to enter into an Agreement and Declaration of Trust creating the “ Midwest Meat Cutter Unions and Retail Employers Joint Pension Fund” ; said Fund is herein after referred to as the “ Pension Fund.” The Trust Agreement shall provide for the ad ministration of the Pension Fund by an equal number of Trustees representing the Em ployer and the Union respectively.
Pension Fund. The contributions of the Employer shall be used for the establishment of such pension and retirement benefits as the said Pension Fund may wish to provide. The Pension Fund shall be administered pursuant to the Agreement and Declaration of Trust dated Septem- ber 9, 1950, and amended from time to time since that date, and executed jointly by equal representatives of the Union and representatives of SMACNA Greater Chicago and shall be considered to be a part hereof as if set forth in detail. The Employer confirms and ratifies the appointment of the three (3) Employer Trustees who, with their successors designated in the manner provided in said Agreement and Declaration of Trust, are called Employer Trustees. Each Union Trustee must be an elected official of the Union and a member of the Union in good standing. Each Employer Trustee must represent an Employer which is a signatory to this Collective Bargaining Agree- ment and which maintains a shop within the jurisdic- tion of the Union or be the Executive Director of the Association. The trust is lawful and is qualified under all appli- cable laws and specifically with Section 302(c)(5) of the Labor-Management Relations Act of 1947, as amended and the Trust has been approved under applicable pro- visions of the Internal Revenue Code so that all contri- butions by the Employer to said Fund will be fully deductible for federal income tax purposes. The Pension Fund contributions shall be paid monthly up to and including the last payroll date in each and every calendar month on or before the fifteenth day of the following month. The contributions are to be as stated on forms provided by the Pension Fund, or other acceptable forms. The Employer shall be liable for the payment of monthly contributions set forth above and Employer in no way guarantees payment of the benefits established by the Trust Fund, nor does Employer guarantee the solvency of the Fund. However, it is understood that the foregoing is not to be construed as exempting the employer from with- drawal liability for the Trust Fund as determined in ac- cordance with the Multi-Employer Pension Plan Amendments Act of 1980 and amendments thereto. In the event the Pension Fund contributions remain unpaid on the thirtieth day of the month in which it is required to be filed, an additional charge of fifteen per- cent (15%) of the amount of the contribution due must be paid. Every Employer shall make available to the Pension Fund any and all records of the ...
Pension Fund. 30.01 The Employers agree to forward to the CMPT administrator employer contributions at the hourly rate set out in Article 29 to the CMPT for each person performing work under this Agreement by the fifteenth (15th) of the month following the month in which contributions are earned and in accordance with Article 17, and to abide by the Agreement and Declaration of Trust of the Canadian Bricklayer and Allied Craft Unions Members Pension Trust (CMPT) Canada Revenue Agency Registration Number T/F 1063478 and by the decisions of the Board of Trustees established there under.
30.02 The BACU may establish a new trust fund to be administered by the BACU only to compensate those members who are retired but not members of the CMPT for any loss which may result from the wind up or transfer of IPF Canada. The amount of the check-off shall be determined by an actuary and by the level of Local Union benefits from IPF-Canada.
30.03 Local 6 – Local Pension contributions for Local 6 members shall be forwarded to the Local 6 Pension Trust Fund.
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 Laborers’ International Union of North America National (Industrial) Pension Fund. The parties agree that the amount, which would otherwise be paid in salary or wages will be contributed instead to the Laborers' International Union of North America National (Industrial) Pension Fund as pre-tax employer contributions. The Laborers’ International Union of North America National (Industrial) Pension Fund is a supplemental pension fund authorized by Minnesota Statutes, Section 356.24, Subdivision 1(8) (2001). Employee wage reductions are the sole source of contributions to the Laborers’ International Union of North America National (Industrial)