Central Pension Fund. The EMPLOYER and the UNION agree that an amount designated herein that would otherwise be paid in salary or wages will be contributed instead to the Central Pension Fund (CPF) as pretax employer contributions. A pension contribution of ninety-six cents ($0.96) per hour will be made for each employee, for a maximum of two thousand eighty hours (2080) per calendar year. The hourly contribution rate will be applied to every hour compensated (i.e. Hours worked, PTO, and holidays) except for overtime hours worked. The EMPLOYER shall deduct seventy-six dollars and eighty cents ($76.80) every eight (80) hour pay period. The EMPLOYER shall pay this contribution directly to the IUOE Central Pension Fund. The UNION agrees to indemnify and hold the EMPLOYER, its Officers, Agents, and employees harmless against any claims, suits, orders or judgments, brought against the EMPLOYER as a result of any action taken or not taken by the EMPLOYER on the specific provisions of this Article. This "hold harmless" clause does not hold the EMPLOYER harmless for failing to transfer the agreed contributions to the IUOE Central Pension Fund. It is agreed that for purposes of determining future wage rates, the EMPLOYER shall first restore the amount of the wage reduction, which is currently the CPF contribution rate of $0.96 per hour, then apply the applicable wage multiplier, then reduce the revised wage by the CPF contribution rate. It is further agreed that for purposes of calculating overtime compensation the EMPLOYER shall first restore the amount of the wage reduction ($0.96/ hr.) then apply the applicable 1.5 or
Central Pension Fund. The City of Arden Hills agrees to participate in the Central Pension Fund of the International Union of Operating Engineers and Participating Employers (“Central Pension Fund”) in accordance with the terms of the Restated Agreement and Declaration Trust of the Central Pension, the Plan of Benefits, and this Memorandum of Understanding.
Central Pension Fund. The Employer and the Union explored the feasibility and processes necessary for implementation of the language and contributions required for employee participation in the International Union of Operating Engineers Central Pension Fund. The Employer and the Union determined that it was in the best interests of the employees to reduce their wages in order to allow Union members to participate in the International Union of Operating Engineers Central Pension Fund. The parties agree that the amount, which would otherwise be paid in salary or wages will be contributed instead to the International Union of Operating Engineers Central Pension Fund as pre-tax employer contributions. The International Union of Operating Engineers Central Pension Fund is a supplemental pension fund authorized by Minnesota Statutes, Section 356.24, Subdivision 1(10). Employee wage reductions are the sole source of contributions to the International Union of Operating Engineers Central Pension Fund. The Union, in its sole discretion, may no more than one time each year decide, based on the final negotiated wage settlement, to increase the CPF hourly contribution rate. At the request of the Union, a pension contribution of one dollar ($1.00) per hour for all hours paid, including hours “detailed” to other classifications titles will commence effective January 1, 2008. For the purpose of determining “detail” wages, the IUOE wage reduced for pension purposes shall form the base, exclusive of premiums, differentials, and/or longevity. The Employer in its sole discretion shall determine the most efficient manner to reconcile “detail” related contributions. The Employer shall pay this contribution directly to the International Union of Operating Engineers Central Pension Fund. The Union agrees to indemnify, defend, and hold the Employer, its officers, agents and employees harmless against any and all claims, suits, orders and judgments brought or issued against the Employer, its officers, agents and employees as a result of any malfeasance, misfeasance or nonfeasance by the CPF, its trustees, agents or authorized representatives in their fiduciary role or arising from any City employee’s legal challenge to the right to make such pension contributions on his or her behalf. Neither party will seek to cease the CPF pension participation without written agreement from the other party. This hold harmless clause does not hold the employer harmless for failing to electronically transfer the agree...
Central Pension Fund. The purpose of this Memorandum of Understanding is to assist both Labor and Management in identifying and implementing a new Central Pension Fund (CPF) contribution rate.
Central Pension Fund. During the continuance of this collective bargaining agreement, the employer shall pay into the “Central Pension Fund of the International Union of Operating Engineers and Participating Employers”, on the account of each member of the bargaining unit, a monthly sum for each employee who is on the payroll of the Employer during the month prior to the one currently being paid and worked or was paid for eighty (80) hours during the prior month: Effective (Based on hours) $.50 per compensable hours Each year the bargaining unit may determine an increase to the contribution of the Central Pension Fund out of their wage increase. Any changes in the Central Pension Fund contribution will be transmitted to the School District in writing.
Central Pension Fund. If the majority of the bargaining unit members vote to do so, 38 employees will divert up to $1.00 per hour of their wages to the Central Pension Fund of the 39 International Union of Operating Engineers and Participating Employers, on the account of each 40 member unit. The purpose of said payments shall be to provide retirement benefits for eligible 41 employees pursuant to the provisions of said Pension Fund. The Union may increase the contribution 42 amount to be diverted to the fund once annually, if so elected by the membership, by written 43 notification to the employer. 44
Central Pension Fund. A. Effective May 1, 2003, the County and the Union have explored the feasibility and process necessary for implementation of the language and contributions required for Employee participation in the International Union of Operating Engineers Central Pension Fund (hereinafter CPF). The CPF is a supplemental Pension Fund authorized by Minnesota Statutes, § 356.24, subdivision 1(10). The County agrees to deduct an hourly amount/rate determined by the union to be contributed into the Central Pension Fund. The hourly contribution amount/rate will be applied to every hour compensated (i.e. hours worked, vacation, holiday and sick time.)
Central Pension Fund. The Union agrees to indemnify and hold the Employer, its Officers, Agents, and Employees harmless against any claims, suits, orders or judgments, brought against the Employer as a result of any action taken or not taken by the Employer on the specific provisions of this Article. This “hold harmless” clause does not hold the Employer harmless for failing to transfer the agreed contributions to the I.U.O.E.
Central Pension Fund. The CPF Plan of Benefits and the Agreement and Declaration of Trust will serve as governing documents.
Central Pension Fund. For purposes of determining future wage rates, the County shall first restore the amount of the wage reduction, which is currently the CPF contribution rate of $1.25 per hour, then apply the applicable wage multiplier, then reduce the revised wage by the CPF contribution rate. It is further agreed that for purposes of calculating overtime compensation the County shall first restore the amount of the wage reduction $1.25 then apply the applicable 1.5 wage multiplier required under the Fair Labor Standards Act and the collective bargaining agreement, then pay the resulting amount for overtime worked. Contributions will be paid into the International Union of Operating Engineers pension fund for the employees of a governmental subdivision who are covered by a collective bargaining agreement that provides for coverage by that fund and that sets forth a fund contribution rate, but not to exceed a County contribution of $5,000.00 per year per employee.
