Whereas, the Northern California Glaziers Pension Sample Clauses

Whereas, the Northern California Glaziers Pension. Trust Fund has been certified by its actuary to be in critical status as of July 1, 2010, under Code Section 432(b) and ERISA Section 305(b) and consequently the Board of Trustees has provided the collective bargaining parties with its Rehabilitation Plan dated November 10, 2010 and an addendum thereto adopted on March 4, 2011, including schedules that contain benefit reductions and increases in contribution rates as required by Code Section 432(e) and ERISA Section 305(e). Therefore, District Council 16 and the Northern California Glass Management Association and/or the Individual Employer Signatory to this Agreement hereby adopt the benefit reductions and contribution rates set forth in the Recommended Schedule of the Rehabilitation Plan and addendum adopted by the Board of Trustees and incorporate said Recommended Schedule into this Agreement as though it was set forth in its entirety. The hourly Journeyman contribution rates shall be as follows: Effective Date Journeyperson Contributions
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Whereas, the Northern California Glaziers Pension. Trust Fund has been certified by its actuary to be in critical status as of July 1, 2010, under Code Section 432(b) and ERISA Section 305(b) and consequently the Board of Trustees has provided the collective bargaining parties with its Rehabilitation Plan dated November 10, 2010 and a addendum thereto adopted on March 4, 2011, including schedules that contain benefit reductions and increases in contribution rates as required by Code Section 432(e) and ERISA Section 305(e). Therefore, District Council 16 and the Northern California Glass Management Association and /or the Individual Employer Signatory to this Agreement hereby adopt the benefit reductions and contribution rates set forth in the Recommended Schedule of the Rehabilitation Plan and addendum adopted by the Board of Trustees and incorporate said Recommended Schedule into this Agreement as though it was set forth in its entirety. The hourly Journeyman contribution rates shall be as follows: Providing Benefit Accrual Credit Providing Benefit Accrual Credit January 1, 2013 $3.50 $3.75 January 1, 2014 $3.50 $4.50 January 1, 2015 $3.50 $5.25 January 1, 2016 $3.50 $6.00 January 1, 2017 $3.50 $6.75 January 1, 2018 $3.50 $7.50 Effective Date Journeyperson Contributions Additional Contributions Not Those classifications contained in this Agreement that provide for contribution rates that are different from the contribution rates set forth above, then the Employer shall pay additional contributions that do not provide benefit accrual credit which are proportional to the above rates. The above contribution rates shall be in effect for the duration of this Agreement.
Sample 1

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