VACATION TRUST Sample Clauses

VACATION TRUST. A. The Employers and the Union agree to establish the Southern California Cement Masons Vacation Savings Plan. B. The Contractor shall make payments in the amount designated in Appendix “C” of this Agreement for each hour worked by Employees or for which they receive pay, for all Employees covered by the terms of this Agreement to the Vacation Savings Plan. C. Vacation benefits shall be distributed in accordance with the rules and policies established under the Southern California Cement Masons Vacation Savings Plan. Administrative costs and interest income shall be allocated to each account in accordance with the established Plan rules and policies. The plan will cover sick pay benefits for all sick pay programs not exempted under Section 37.

VACATION TRUST. Art. 25(a) It is agreed that contributions will be paid to the Western States Construction Boilermaker Vacation Trust the sum outlined in Article 14 for all straight-time hours worked, and at the applicable overtime rate for overtime hours worked by all employees covered by this Agreement.

VACATION TRUST. Inc., a Florida corporation, in its capacity as trustee under the Club Trust Agreement and its permitted successors and assigns.

VACATION TRUST. Art. 25 (a) It is agreed that contributions are voluntary and will be paid to the Western States Construction Boilermaker Vacation Trust the sum outlined in Article 14 for all straight-time hours worked, and at the applicable overtime rate for overtime hours worked by all employees covered by this Agreement. Contributions shall be paid to the Fund as a payroll deduction from the taxable wage. If the participant waives the right to contribute to the Fund, it shall be reflected on the dispatch at the beginning of the project and those funds shall remain on the check. (b) The Contractor agrees to and shall be bound by the Trust Agreement creating the Boilermakers Vacation Trust and all amendments now or hereafter approved by the Board of Trustees, said Agreement and amendments are incorporated by reference and made a part of this Agreement as if affixed hereto. (c) The monies specified above are hourly wages with taxes withheld at time of earning. Participating in this voluntary Fund is a payroll deduction from taxable wages and not a part of the fringe benefit package. (d) Campaign Assistance Fund Campaign Assistance Fund (CAF) deductions will be handled with employees through the Western States Construction Boilermaker Vacation Trust.

VACATION TRUST. A. The Association and the Union agree that, during the term of this Agreement, a Vacation Trust may be established for the purpose of allowing bargaining unit members to put aside during the course of a year three dollars ($3.00) per hour of their wages to assure that funds are available for an annual vacation and/or long term savings plan. Participants in the Trust will not be required to withdraw funds each year. It is agreed that employee withdrawals from the Trust will not exceed two (2) per year for vacation purposes nor may there be more than one (1) withdrawal per year for emergency purposes. B. A Vacation Trust will be established if a majority of the bargaining unit members covered by this Agreement vote to authorize creation of the Trust. The Union will notify each Contractor in writing of a vote approving the creation of a Vacation Trust. Notice must be given to each Contractor at least thirty (30) calendar days prior to the date on which contributions are to commence. The Contractor will commence contributions on the date specified in the resolutions approving the Vacation Trust. C. The Contractor will incur no cost for either establishing the Vacation Trust or for making the vacation contribution. The Contractor contribution rate will be based on the hours worked by each employee and will be determined in the same manner as is done for pension and health and welfare contributions. The amount of the contribution will be negotiated between the Union and the Association. The hourly wage rate for each employee will be reduced by the amount of the vacation contribution to the Vacation Trust. The vacation contribution will be treated as wages for payroll tax purposes by the Contractor. D. The Vacation Trust will be established by a written Trust Agreement and shall be governed by a Board of Trustees composed of an equal number of representatives from the Union and from the Association. The same persons who serve as Trustees on the Board of Trustees for the Pension Trust shall also serve as the Trustees on the Board of Trustees for the Vacation Trust. E. In the event that a Vacation Trust is established, it is agreed that the provisions in Sections 19.1 and 19.2 shall be interpreted to include the Vacation Trust and