Common use of Adjustable Pension Plan Clause in Contracts

Adjustable Pension Plan. The parties agree to establish a study group consisting of three (3) union representatives, three (3) employer representatives, and any consultants which either side may engage, for the purposes of studying Adjustable Pension Plan(s) for bargaining unit members. Each party shall be responsible for their consultant’s fee. The parties shall continue their study of the union’s Adjustable Pension Plan (APP) proposal to address the need for employee retirement security, the County’s fiduciary responsibility, and avoidance of any accrued actuarial liability as a result of implementing the APP. If the parties reach agreement on the APP, the parties will submit legislation to the County Council to implement the APP by January 2014. Should the parties not reach agreement on the APP by October 2013, the parties retain their rights to impasse resolution under the Collective Bargaining Law.

Adjustable Pension Plan. The parties agree to establish a study group consisting of three (3) union Union representatives, three (3) employer representatives, and any consultants which either side may engage, for the purposes of studying Adjustable Pension Plan(s) for bargaining unit members. Each party shall be responsible for their consultant’s fee. The parties shall continue their study of the unionUnion’s Adjustable Pension Plan (APP) proposal to address the need for employee retirement security, the County’s fiduciary responsibility, and avoidance of any accrued actuarial liability as a result of implementing the APP. If the parties reach agreement on the APP, the parties will submit legislation to the County Council to implement the APP by January 2014. Should the parties not reach agreement on the APP by October 2013, the parties retain their rights to impasse resolution under the Collective Bargaining Law.