Board of Administration. A Board of Administration consisting of three Company and three Union members will be established to jointly assure the proper administration of the Plan.
Board of Administration. The Board shall be empowered and authorized and shall have jurisdiction to direct the company to make Separation Payments pursuant to determinations made by the Board.
Board of Administration. (1) There shall be established a central Board of Administration hereinafter referred to as the Board, composed of six members, three appointed by the Company and three by the Union. Each member of the Board shall have an alternate. In the event a member is absent from a meeting of the Board, the alternate may attend and when in attendance shall exercise the duties of the member. Either General Motors LLC or the Union at any time may remove a member or alternate appointed by it and may appoint a member or alternate to fill any vacancy among members or alternates appointed by it.
(2) The Board shall meet at such times and for such periods for the transaction of necessary business as may be mutually agreed upon by its members.
(3) To constitute a quorum for the transaction of business, the presence of four members of the Board shall be required. At all meetings of the Board, the member or members present appointed by the Company shall have in the aggregate a total of one vote to be cast on behalf of the Company and the member or members present appointed by the Union shall have in the aggregate a total of one vote to be cast on behalf of the Union.
(4) The compensation and expenses of the Company members will be paid by the Company and the compensation and expenses of the Union members will be paid by the Union and no part of such
(5) The Company shall cause to be furnished to the Board of Administration annually:
(i) A statement as of each anniversary date of the Plan showing in summary form the value of the assets which comprise such fund by general categories of investment, such value being determined on a basis at least equal to the total cost thereof for each such category, and a summary of the funded status of the Plan and an opportunity to discuss the funded status of the Plan in more detail.
(ii) Such information as to age, sex and service of hourly-rate employees of General Motors LLC as a whole in the United States and as to the number of pensioners and amount of pensions and supplements by age groups, as the Board may reasonably require, but in no event shall the Company be required to furnish the Board with any data not furnished by the Company to the Actuary.
(iii) A report, prepared by the Actuary, in respect of each year’s actuarial valuation of the Plan.
(iv) General Motors LLC will provide the union with an annual report related to the General Motors Hourly-Rate Employees Pension Plan regarding ASC715, which will include:
Board of Administration. (1) There shall be established by the Company a Board of Administration hereinafter referred to as the Board, composed of six members, three appointed by the Company and three by the Union. Each member of the Board shall have an alternate. In the event a member is absent from a meeting of the Board, the member’s alternate may attend and when in attendance shall exercise the duties of the member. Either the Company or the Union at any time may remove a member or alternate appointed by it and may appoint a member or alternate to fill any vacancy among members or alternates appointed by it.
(2) The Board shall meet at such times and for such periods for the transaction of necessary business as may be mutually agreed upon by its members.
(3) To constitute a quorum for the transaction of business, the presence of four members of the Board shall be required. At all meetings of the Board the member or members present appointed by the Company shall have in the aggregate a total of one vote to be cast on behalf of the Company, and the member or members present appointed by
(4) The compensation and expenses of the Company members will be paid by the Company and the compensation and expenses of the Union members will be paid by the Union and no part of such compensation or expenses will be paid from the trust fund.
(5) The Company shall cause to be furnished to the Board of Administration:
(i) A full actuarial valuation prepared by the actuary, on an annual basis.
(ii) The full annual report by the Trustee of the receipts, disbursements and assets of the Pension Fund, and the annual audited financial statements of the Pension Fund.
(iii) Upon request, pertinent data such as age, sex, service and benefits for current employees, retirees and surviving spouses in a format agreed to by the parties.
(6) The Board of Administration shall have no power to add to or subtract from or modify any of the terms of this agreement or the Plan, nor to change or add to any benefit provided by said agreement or Plan, nor to waive or fail to apply any requirements of eligibility for a benefit under said agreement or Plan.
(7) Any case referred to the Board of Administration on which it has no power to rule shall be referred back to the parties without ruling.
(8) No ruling or decision of the Board of Administration in one case shall create a basis for a retroactive adjustment in any other case prior to the date of written filing of each such specific claim.
(9) There shall be no appeal...
Board of Administration. The Company agrees to pay for the time from work of any employee who is appointed to the Pension Board of Administration, while said employee is attending Pension Board Meetings. Article Pay The Company will pay all employees weekly and their cheques xxxx be in sealed envelopes. Where possible all cheques will be issued on Thursday.
Board of Administration. (1) There shall be established a Personal Savings Plan Board of Administration, hereinafter referred to as the “Board”, composed of six (6) members, three (3) appointed by the Company and three (3) by the Union. Each member of the Board shall have an alternate. In the event a member is absent from a meeting of the Board, the alternate may attend and when in attendance shall exercise the duties of the member. Either the Company or the Union at any time may remove a member or alternate appointed by it and may appoint a member or alternate to fill any vacancy among members or alternates appointed by it.
(2) The Board shall meet at such times and for such periods for the transaction of necessary business, but not less than semi-annually or as may be mutually agreed by its members.
(3) To constitute a quorum for the transaction of business, the presence of four (4) members of the Board shall be required. At all meetings of the Board, the member or members present as appointed by the Company shall have in the aggregate a total of one vote to be cast on behalf of the Company and the member or members present as appointed by the Union shall have in the aggregate a total of one vote to be cast on behalf of the Union.
(4) In the event the members of the Board are unable to agree upon the disposition of the appeal, the matter shall be referred to and decided by the Impartial Chairperson who shall be mutually agreed to by the parties. The parties shall share the cost of such Impartial Chairperson, if any, equally.
(5) The compensation and expenses of the Company members will be paid by the Company and the compensation and expenses of the Union members will be paid by the Union.
Board of Administration. The Company agrees to pay for the time lost from work of any employee who is appointed to the Pension Board of Administration, while said employee is attending Pension Board Meetings.
Board of Administration. (a) Composition and Procedure:
1. There shall be established a Board of Administration consisting of three Company appointed representatives and three Union appointed representatives hereinafter referred to respectively as the Company Members and the Union Members. In the event of a deadlock in voting on the Board, an impartial Chairman may be selected by mutual agreement of the Company and Union Members. If no agreement can be reached, the Chairman shall be appointed by the Dist. Dir. - USWA at the request of either the Company or the Union. The impartial Chairman shall be considered a member of the Board and shall attend and vote at meetings of the Board only with respect to a matter before the Board under the Plan which the Company and Union Members are unable to dispose of by majority vote.
(i) The Company and the Union may appoint an alternate for each Member who may replace the respective Member at any meeting which the Member is unable to attend.
(ii) Either the Company or the Union at any time may remove a Member or alternate appointed by it and may appoint a Member or alternate to fill any vacancy among the Members or alternates appointed by it. Both the Company and the Union shall notify each other in writing of the names of Members or alternates respectively appointed by them before any such appointments shall be effective.
3. To constitute a quorum for the transaction of business, there shall be required to be present at any meeting of the Board at least two Union Members and two Company Members. Decisions of the Board shall be by a majority of the votes cast.
4. The Board shall not maintain any separate office or staff. The Company and the Union shall each be responsible for furnishing such clerical and other staff assistance as its own representative members of the Board respectively shall require. Copies of all appeals, reports, and other documents to be filed with the Board pursuant to the Plan shall be filed in duplicate, one copy to be sent to the Company members at the address designated by them and the other to the Union Members at the address designated by them.
Board of Administration. The Administrative Body of PARC-FOUGALA as set forth in the Bye-laws.
Board of Administration
