Common use of Benefits Fund Clause in Contracts

Benefits Fund. The University shall transfer one-time lump sum payments of $65,000.00 for each year of the collective agreement to the local union for the purpose of either purchasing benefits and/or reimbursing members of the bargaining unit for benefit related expenses. Subject to the terms of this Article, the University shall transfer one-time only lump sum amounts to the local union as follows: • $80,000 by March 1st, 2018; • $95,000 by March 1st, 2019; and • $63,334 by August 15th, 2020 • $95,000 by August 15th, 2021

Benefits Fund. The University shall transfer one-time lump sum payments of $65,000.00 for each year of the collective agreement to the local union for the purpose of either purchasing benefits and/or reimbursing members of the bargaining unit for benefit related expenses. Subject to the terms of this Article, the University shall transfer one-time only lump sum amounts to the local union as follows: • $80,000 by March 1st, 2018; • $95,000 by March 1st, 2019; and • $63,334 95,000 by August 15thMarch 1st, 2020 • $95,000 by August 15thMarch 1st, 2021

Benefits Fund. The University shall transfer one-time lump sum payments of $65,000.00 for each year of the collective agreement to the local union for the purpose of either purchasing benefits and/or reimbursing members of the bargaining unit for benefit related expenses. Subject The University shall transfer these one-time lump sums to the local union by March 1st, 2015, March 1st, 2016 and March 1st, 2017, subject to the terms of this Article, the University shall transfer one-time only lump sum amounts to the local union as follows: • $80,000 by March 1st, 2018; • $95,000 by March 1st, 2019; and • $63,334 by August 15th, 2020 • $95,000 by August 15th, 2021.