Pension Legislation. In the event that future federal legislation allows ABF to reduce its pension contribution rates which would not cause a reduction in benefits, the Company reserves the right to reopen the ABF NMFA as it relates to the pension contribution rates. If the parties do not agree on a mutually satisfactory resolution to negotiations over such issue within sixty (60) days of the start of such negotiations, either party shall be permitted all legal or economic recourse in support of its proposals on this matter notwithstanding any provisions of this Agreement to the contrary.
Pension Legislation. Commencing with Fiscal Year 2000, the additional pension contributions of teachers as a result of the “2.2% legislation” shall be made on a pre-tax basis pursuant to Section 414(h) of the Internal Revenue Code. For the purposes of Section 414(h) of the Internal Revenue Code, such contributions will be treated as employer contributions, and it is recognized that employees do not have the option to receive such contributions in cash. This agreement is for the purpose of making such additional pension contribution pre-tax for the employee. Contributions will be deducted from employees’ salaries and do not constitute an additional “pick up” under Article 36-4.1.
Pension Legislation a. The parties will jointly support legislation to allow active Tier II, III, and IV employees covered by this Agreement to purchase Tier I benefits at their expense through payroll deductions. Active employees enrolled in fractional plans will be allowed to enroll into the A plan on the same basis.
Pension Legislation. 1. A Labor-Management Pension Committee will be established to investigate legislation allowing all current and future members of the TRS Tier II, III and IV to retire without a reduction of benefits due to early retirement upon age 55 with at least 25 years of service, as well as other relevant pension issues.
Pension Legislation. The parties have agreed to jointly support pension legislation as set forth in the letter attached as Appendix C.
Pension Legislation. Notwithstanding Sections 10.1 and 10.3 above, the parties shall commence bargaining over the salary and benefit provisions of Articles Xl, XII and XIII of this Agreement upon request of the Association if changes in Illinois law increase the teacher contribution level to the Illinois Teachers' Retirement System above the current 9.4% level or upon request of the Board if changes in Illinois law impose an obligation on the Board to contribute directly to funding teacher pensions or indirectly by diverting funds, which would otherwise have been received by the District, for pension purposes. Negotiations shall begin within 30 calendar days of receipt of written notice from the Association President to the Superintendent or from the Superintendent to the Association President. In the event that negotiations do not produce an agreement, this Agreement shall remain in full force and effect without change.
Pension Legislation. In the event that future federal legislation allows ABF to reduce its pension contribution rates which would not cause a reduction in benefits, the Company reserves the right to reopen the ABF NMFA as it relates to the pension contribution rates. If the parties do not agree on a mutually satisfactory resolution to negotiations over such issue within sixty (60) days of the start of such negotiations, either party shall be permitted all legal or economic recourse in support of its proposals on this matter notwithstanding any provisions of this Agreement to the contrary. G Dispute Resolution As part of the Collective Bargaining Agreement, disputes pertaining to this MOU are subject to the grievance procedure contained in the ABF National Master Freight Agreement. However, any grievance filed hereunder, by either party, shall be referred directly to the appropriate Regional Joint Area Committee for initial hearing and disposition. END
Pension Legislation. For the purposes of this Agreement, the word “Act” means the Pension Benefits Act, 1997 (Newfoundland and Labrador), the word “Directives” means the Directives issued under the Act and the word “Regulations” means the Regulations made under the Act (the Act, Directives and Regulations collectively referred to as the “Applicable Pension Legislation”).
