Common use of PENSION-RETIREMENT Clause in Contracts

PENSION-RETIREMENT. (Except Colonial Markets) Employer shall contribute no less than the sum of twelve and one-half (12%tf) cents per hour up to a maximum of forty (40) straight time hours per week for each hour worked by each full time employee to the Baltimore FELRA and Retail Clerks Pen­ sion Fund. The hourly contribution by the Employer for new employees will commence with the first full payroll week follow­ ing the completion of xxxxx (30) days of continuous full time employment with the Employer, retroactive to the date of em­ ployment. Effective July 1, 1970 the contribution will be increased to 15( an hour.

PENSION-RETIREMENT. (Except Colonial Markets) Employer shall contribute no less than the sum of twelve and one-half (12%tf12% tf) cents per hour up to a maximum of forty (40) straight time hours per week for each hour worked by each full time employee to the Baltimore FELRA and Retail Clerks Pen­ sion Fund. The hourly contribution by the Employer for new employees will commence with the first full payroll week follow­ ing the completion of xxxxx (30) days of continuous full time employment with the Employer, retroactive to the date of em­ ployment. Effective July 1, 1970 the contribution will be increased to 15( 15c* an hour.