Common use of Benefits Fund Clause in Contracts

Benefits Fund. The University will contribute a lump sum amount of $176,000 within thirty (30) days of the ratification of this agreement, $177,760 in May 2021, and $179,538 in May 2022 to the Union for the purpose of maintaining a benefits fund that will be administered by the Union. The Union will provide the University with an annual statement of the benefit account.

Benefits Fund. The University will contribute a lump sum amount of $176,000 within thirty (30) days of the ratification of this agreement181,333 in May 2023, $177,760 183,146 in May 20212024, and $179,538 184,977 in May 2022 2025 to the Union for the purpose of maintaining a benefits fund that will be administered by the Union. The In May of each year, the Union will provide the University with an annual statement of the benefit account.