Common use of Work Preservation Fund Clause in Contracts

Work Preservation Fund. a) There has been created a separate and independent entity, the Work Preservation Fund, Inc., ("Work Preservation Fund") organized pursuant to the laws of the State of California, as a non-profit California Corporation. The purposes for which this corporation is formed are to expand the work and jobs available to signatory Employers and employees, and to advance and preserve the industry by promoting high standards and fair competition. These purposes are consistent with those established under the authority of the Labor-Management Cooperation Act of 1978, U.S.C. Section 175(a) and 29 U.S.C. Section 186(c)(9). b) The affairs of the Work Preservation Fund are governed by a Board of Directors comprised of equal members representing labor and management, plus one (1) neutral member, elected by a majority vote of the Board of Directors. c) Effective January 1, 2025, the contribution rate for the Work Preservation Fund shall be a minimum of ten cents ($0.10) per hour, or in accordance with the attached Wage Schedule A.