SUPPLEMENTAL RETIREMENT AND SAVINGS FUND. 1. The Employer shall make contributions to a trust fund known as the “Building Service 32BJ Supplemental Retirement and Savings Fund” to cover bargaining unit employees who are regularly employed twenty (20) or more hours per week, including paid time off, with employer contributions as hereinafter provided and tax exempt employee wage deferrals as provided by the Plan and/or Plan rules. Employer contributions for other bargaining unit employees shall also be required for each week in which they work twenty (20) or more hours, including paid time off.
SUPPLEMENTAL RETIREMENT AND SAVINGS FUND. The Employer shall participate in the Building Service 32BJ Supplemental Retirement and Savings Fund (“SRSP”) in accordance with the terms and conditions of such Fund, as it may be amended, at no cost to the Employer. The Employer shall make contributions to the SRSP to cover employees covered by this Agreement with Employer contributions, as well as tax exempt employee initiated wage deferrals as provided by the plan and/or plan rules and payable how and when the Trustees determine. The Employer shall contribute to the SRSP on behalf of all Employees whatever portion of the Hourly Benefit Amount remains after funding the health (if any) benefits set forth in Paragraph 2(A) above. By way of example, for a Full-Time Employee receiving health benefits, the January 2023 calculation shall be as follows: Hourly Benefit Amount: $4.80 - Health Benefit Amount ($4.41) Remaining Amount $0.39 per hour To be contributed to SRSP In the event that an employee’s monthly health and welfare fringe is insufficient to cover monthly medical premiums, the employer may make deductions from SRSP payments in subsequent payroll periods until such time as the medical premium deficiency is repaid. Part-time employees shall have their entire Hourly Benefit Amount contributed to the SRSP.
SUPPLEMENTAL RETIREMENT AND SAVINGS FUND. (SRSF) The Employer shall make contributions to a trust fund known as the “Building Service 32BJ Supplemental Retirement and Savings Fund” to cover bargaining unit employees who are regu- larly employed twenty (20) or more hours per week, including paid time off, with employer contributions as hereinafter provided and tax exempt employee wage deferrals as provided by the Plan and/or Plan rules. Employer contribu- tions for other bargaining unit employees shall also be required for each week in which they work twenty (20) or more hours, including paid time off. Effective January 1, 2012, the Employer shall contribute $13.00 per week per covered employee into the SRSF, payable when and how the Trustees determine.
SUPPLEMENTAL RETIREMENT AND SAVINGS FUND. The Employer shall participate in the Building Service 32BJ Supplemental Retirement and Savings Fund (“SRSP”) in accordance with the terms and conditions of such Fund, as it may be amended. The Employer shall make contributions to the SRSP to cover employees covered by this Agreement with Employer contributions, as well as tax exempt employee wage deferrals as provided by the plan and/or plan rules and payable how and when the Trustees determine. The Employer shall contribute to the SRSP on behalf of all Employees whatever portion of the Hourly Benefit Amount remains after funding the health (if any) and legal benefits set forth in Paragraph 2(A) and 2(B) above. By way of example, for a Full-Time Employee receiving health benefits, the 2023 calculation shall be as follows: Hourly Benefit Amount: $4.80 - Health Benefit Amount ($4.41) - Legal Benefit Deduction ($0.11) Remaining Amount $0.28 per hour To be contributed to SRSP Part-time Employees shall have their entire Hourly Benefit Amount contributed to the SRSP after funding the Legal benefits set forth above.
SUPPLEMENTAL RETIREMENT AND SAVINGS FUND. The employer shall contribute $10.00 per week per employee to the Supplemental Retirement and Savings Fund (SRSP) for each regular employee employed in excess of 16 hours per week.
SUPPLEMENTAL RETIREMENT AND SAVINGS FUND. The rate of contribution shall be as follows: Effective January 1, 2016, the Employer shall contribute $16 per week on behalf of all employees who work more than two days per week and who have completed two years of service, or $.44 per hour paid on behalf of all employees who have completed two years of service, up to 40 hours per week per employee. For Employers who contribute to the Fund on an hourly basis, contributions shall commence on the first day of the calendar month during which the employee completes two years employment. Provided that where an Employer elects to contribute at the hourly rates set forth above, no fewer than 93 percent of all unit employees must work more than two days per week. Sincerely, Xxxxxx X. Xxxxxxxx President SEIU Local 32BJ Agreed: Xxxxxx Xxxxxxxxxx President Realty Advisory Board on Labor Relations, Inc. Date: May 1, 2016 Xxxxxx Xxxxxxxxxx, President Realty Advisory Board on Labor Relations, Inc. 000 Xxxxxxx Xxxxxx, 00xx Xxxxx Xxx Xxxx, Xxx Xxxx 00000 Re: 2016 RAB Security Officers Owners Agreement Contribution Rates for Employees Covered by the Suburban Plan of Health Benefits Dear Xx. Xxxxxxxxxx: This will confirm our agreement that the where employees are covered by the Suburban Plan of health benefits pursuant to a transition agreement or assent this the RAB Security Officers Owners Agreement, the Employer shall contribute to the Health Fund at the following monthly rates: Effective January 1, 2016 $1,261.00 Effective January 1, 2017 $1,352.00 Effective January 1, 2018 $1,433.00 Effective January 1, 2019 $1,534.00 Effective January 1, 2020 93% of the rate for the Metropolitan Plan of benefits set forth in the successor agreement to the 2016 RAB Commercial Agreement. Sincerely, Xxxxxx X. Xxxxxxxx President SEIU Local 32BJ Agreed: Xxxxxx Xxxxxxxxxx President
