Common use of Annuity Fund Clause in Contracts

Annuity Fund. i. Effective June 1, 1999, the parties agree to establish an annuity fund for all employees covered by the 1995 MCMEA. To be eligible to receive this annuity, an employee must be in active pay status at any time during the period June 1, 1996 through May 31, 1997. To receive payment, said employee must also be in active pay status on June 1, 1999 ii. The employer shall pay into the fund on behalf of full-time per annum and full-time per diem employees a daily amount of $2 for each paid working day up to a maximum of $522 per annum. For school-based 12-month employees who work at the Board of Education, the employer shall pay into the fund a daily amount of $2 for each paid working day up to a maximum of $522. For school-based 10-month employees who work at the Board of Education, the employer shall pay in to the fund a daily amount of $2 for each paid working day up to a maximum of $522 per annum. For school-based employees who work part-time at the Board of Education and for all other part-time employees who work less than the number of hours for their full-time equivalent title, the employer shall pay into the fund a daily amount of $2 for each paid working day based on a prorated amount which is calculated against the number of hours associated with their full-time equivalent title, up to a maximum of $522 per annum. iii. For the purpose of this Article III-B, the eligibility for payments set forth in Section (ii) shall be based on working days between June 1, 1996 and May 31, 1997. iv. For the purpose of this Article III-B, excluded from paid working days are all scheduled days off, all days in non-pay status, and all paid overtime. v. Contributions hereunder shall be remitted by the employer no later than 120 days after June 1, 1999 to a mutually agreed upon annuity fund pursuant to the terms of a supplemental agreement to be reached by the parties subject to approval by the Corporation Counsel.

Annuity Fund. i. Effective June 1, 1999, the parties agree to establish an annuity fund for all employees covered by the 1995 MCMEA. To be eligible to receive this annuity, an employee must be in active pay status at any time during the period June 1, 1996 through May 31, 1997. To receive payment, said employee must also be in active pay status on June 1, 1999. ii. The employer shall pay into the fund on behalf of full-time per annum and full-full- time per diem employees a daily amount of $2 for each paid working day up to a maximum of $522 per annum. For school-based 12-month employees who work at the Board of Education, the employer shall pay into the fund a daily amount of $2 for each paid working day up to a maximum of $522. For school-school- based 10-month employees who work at the Board of Education, the employer shall pay in to the fund a daily amount of $2 for each paid working day up to a maximum of $522 per annum. For school-based employees who work part-time at the Board of Education and for all other part-time employees who work less than the number of hours for their full-time equivalent title, the employer shall pay into the fund a daily amount of $2 for each paid working day based on a prorated amount which is calculated against the number of hours associated with their full-time equivalent title, up to a maximum of $522 per annum. iii. For the purpose of this Article III-B, the eligibility for payments set forth in Section (ii) shall be based on working days between June 1, 1996 and May 31, 1997. iv. For the purpose of this Article III-B, excluded from paid working days are all scheduled days off, all days in non-pay status, and all paid overtime. v. Contributions hereunder shall be remitted by the employer no later than 120 days after June 1, 1999 to a mutually agreed upon annuity fund pursuant to the terms of a supplemental agreement to be reached by the parties subject to approval by the Corporation Counsel.

Annuity Fund. i. Effective June 1, 1999, the parties agree to establish an annuity fund for all employees covered by the 1995 MCMEA. To be eligible to receive this annuity, an employee must be in active pay status at any time during the period June 1, 1996 through May 31, 1997. To receive payment, said employee must also be in active pay status on June 1, 1999 ii. The employer shall pay into the fund on behalf of full-time per annum and full-time per diem employees a daily amount of $2 for each paid working day up to a maximum of $522 per annum. For school-based 12-month employees who work at the Board of Education, the employer shall pay into the fund a daily amount of $2 for each paid working day up to a maximum of $522. For school-based 10-month employees who work at the Board of Education, the employer shall pay in to the fund a daily amount of $2 for each paid working day up to a maximum of $522 per annum. For school-based employees who work part-time at the Board of Education Education, and for all other part-time employees who work less than the number of hours for their full-time equivalent title, the employer shall pay into the fund a daily amount of $2 for each paid working day based on a prorated amount which is calculated against the number of hours associated with their full-time equivalent title, up to a maximum of $522 per annum. iii. For the purpose of this Article III-Bc, the eligibility for payments set forth in Section (ii) . shall be based on working days between June 1, 1996 and May 31, 1997. iv. For the purpose of this Article III-Bc, excluded from paid working days are all scheduled days off, all days in non-pay status, and all paid overtime. v. Contributions hereunder shall be remitted by the employer no later than 120 days after June 1, 1999 to a mutually agreed upon annuity fund pursuant to the terms of a supplemental agreement to be reached by the parties subject to approval by the Corporation Counsel.