Central Pension Fund. The EMPLOYER and the UNION agree that an amount designated herein that would otherwise be paid in salary or wages will be contributed instead to the Central Pension Fund (CPF) as pretax employer contributions. A pension contribution of ninety-six cents ($0.96) per hour will be made for each employee, for a maximum of two thousand eighty hours (2080) per calendar year. The hourly contribution rate will be applied to every hour compensated (i.e. Hours worked, PTO, and holidays) except for overtime hours worked. The EMPLOYER shall deduct seventy-six dollars and eighty cents ($76.80) every eight (80) hour pay period. The EMPLOYER shall pay this contribution directly to the IUOE Central Pension Fund. The UNION agrees to indemnify and hold the EMPLOYER, its Officers, Agents, and employees harmless against any claims, suits, orders or judgments, brought against the EMPLOYER as a result of any action taken or not taken by the EMPLOYER on the specific provisions of this Article. This "hold harmless" clause does not hold the EMPLOYER harmless for failing to transfer the agreed contributions to the IUOE Central Pension Fund. It is agreed that for purposes of determining future wage rates, the EMPLOYER shall first restore the amount of the wage reduction, which is currently the CPF contribution rate of $0.96 per hour, then apply the applicable wage multiplier, then reduce the revised wage by the CPF contribution rate. It is further agreed that for purposes of calculating overtime compensation the EMPLOYER shall first restore the amount of the wage reduction ($0.96/ hr.) then apply the applicable 1.5 or
Central Pension Fund. The Employer and the Union explored the feasibility and processes necessary for implementation of the language and contributions required for employee participation in the International Union of Operating Engineers Central Pension Fund. The Employer and the Union determined that it was in the best interests of the employees to use a portion of their wages in order to allow Union members to participate in the International Union of Operating Engineers Central Pension Fund. The parties agree that the amount, which would otherwise be paid in salary or wages will be reallocated to the International Union of Operating Engineers Central Pension Fund as pre-tax employer contributions. The International Union of Operating Engineers Central Pension Fund is a supplemental pension fund authorized by Minnesota Statutes, Section 356.24, Subdivision 1(10). Pre-tax employer contributions are the sole source of contributions to the International Union of Operating Engineers Central Pension Fund. The Union, in its sole discretion, may no more than one time each year decide, based on the final negotiated wage settlement, to increase the CPF hourly contribution rate. At the request of the Union, commencing December 31, 2023 a pension contribution of two dollars ($2.00) per hour for all paid hours of work and pay for time off taken, including hours “detailed” to other classifications titles will be paid to the International Union of Operating Engineers Central Pension Fund. Commencing January 1, 2025 a pension contribution of two dollars and twenty five cents ($2.25) per hour for all paid hours of work and pay for time off taken, including hours “detailed” to other classifications titles will be paid to the International Union of Operating Engineers Central Pension Fund. Commencing January 1, 2026 a pension contribution of two dollars and fifty cents ($2.50) per hour for all paid hours of work and pay for time off taken, including hours “detailed” to other classifications titles will be paid to the International Union of Operating Engineers Central Pension Fund. For the purpose of determining “detail” wages, the IUOE wage after the pension contribution shall form the base, exclusive of premiums, differentials, and/or longevity. The Employer in its sole discretion shall determine the most efficient manner to reconcile “detail” related contributions. The Employer shall pay this contribution directly to the International Union of Operating Engineers Central Pension Fund. The Uni...
Central Pension Fund. The city agrees to participate in the Central Pension Fund (CPF) of the International Union of Operating Engineers, Local #49 and Participating Employers. The CPF is a supplemental Pension Fund authorized by Minnesota Statute § 356.24, subd. 1(10). The parties agree that the agreed upon amount that would otherwise be paid in salary or wages will be contributed instead to the CPF as pre- tax employer contributions. Contributions from the city will not be funded from any other source other than this wage reduction. Effective January 1, 2022, the contribution rate equals $1.00 per straight time hour paid (including sick, vacation, and compensatory time). The employer shall pay the contribution directly to the IUOE Central Pension Fund, 0000 Xxxxxxxxxx Xxxxxx XX, Xxxxxxxxxx, XX 00000. Authorization to change the contribution rate shall be subject to approval of a majority vote of all employees and cannot be changed more than once per calendar year. Maximum annual contribution limit set forth under Minnesota Statute § 356.24, subd. 1(10), as amended, is $5,000.00. The union agrees to indemnify and hold the employer, its officers, agents, and employees harmless against any claims, suits, orders, or judgments, brought against the employer as a result of any action taken or not taken by the employer on the specific provisions of this article. This “hold harmless” clause does not hold the employer harmless for failing to transfer the agreed contributions to the IUOE Central Pension Fund. It is agreed that for purposes of determining future wage rates, the employer shall first restore the amount of the wage reduction, which is currently the CPF contribution rate of $0.25 per hour, (effective October 2, 2016) then apply the applicable wage multiplier, then reduce the revised wage by the CPF contribution rate. For purposes of calculating overtime compensation the employer shall first restore the amount of the wage reduction ($0.25/hr.) then apply the applicable wage multiplier required under the Fair Labor Standards Act and the collective bargaining agreement, then pay the resulting amount for overtime worked. The CPF Plan of Benefits and the Agreement and Declaration of Trust will serve as the governing documents.
Central Pension Fund. The purpose of this Memorandum of Understanding is to assist both Labor and Management in identifying and implementing a new Central Pension Fund (CPF) contribution rate.
Central Pension Fund. If the majority of the bargaining unit members vote to do so, 13 employees will divert up to $1.00 per hour of their wages to the Central Pension Fund of the 14 International Union of Operating Engineers and Participating Employers, on the account of each 15 member unit. The purpose of said payments shall be to provide retirement benefits for eligible 16 employees pursuant to the provisions of said Pension Fund. The Union may increase the contribution 17 amount to be diverted to the fund once annually, if so elected by the membership, by written 18 notification to the employer.
Central Pension Fund. For purposes of determining future wage rates, the County shall first restore the amount of the wage reduction, which is currently the CPF contribution rate of $1.25 per hour, then apply the applicable wage multiplier, then reduce the revised wage by the CPF contribution rate. It is further agreed that for purposes of calculating overtime compensation the County shall first restore the amount of the wage reduction $1.25 then apply the applicable 1.5 wage multiplier required under the Fair Labor Standards Act and the collective bargaining agreement, then pay the resulting amount for overtime worked. Contributions will be paid into the International Union of Operating Engineers pension fund for the employees of a governmental subdivision who are covered by a collective bargaining agreement that provides for coverage by that fund and that sets forth a fund contribution rate, but not to exceed a County contribution of $5,000.00 per year per employee.
Section 9. ACA reopener In the event that obligations or penalties are incurred under the Affordable Care Act (Health Care reform), Local #49 or the County may reopen the labor agreement to contract provisions associated with those obligations or penalties.
Section 10. Training Center Contribution The County agrees to contribute $0.20 per hour per employee to the Local 49 Training Center for the duration of this agreement. The County may select which employees will attend the training center based on the training needs of the County. Any request from an employee to attend the training center during regular work hours will require the approval of the County Engineer. Any employee who desirers to attend the Training Center on vacation or personal time will not require approval for of the County Engineer.
Central Pension Fund. The District shall pay into the Central Pension Fund of the International Union of Operating Engineers and Participating Employers, on the account of each member of the bargaining unit, an hourly sum for every hour for which compensation was paid. The purpose of said payments shall be to provide retirement benefits for eligible employees pursuant to the provisions of said pension fund. The stipulated amount of any said sum and the designated effective date for payment of any said sum and the effective date for payment of any said sum is defined and set forth on the following basis: Pay an hourly sum of sixty cents ($0.60) per compensable hour for all bargaining unit employees, to be deducted from each employee’s negotiated wages. The District and the Union agree to be bound by the respective Agreement and Declaration of Trust entered into on the date set forth herein for each fund, as of September 7, 1960, establishing the Central Pension fund of the International Union of Operating Engineers and Participating Employers, and by any amendments to either said Trust Agreement, heretofore and hereafter adopted. The Employer and Union consent to and accept the terms, conditions and provisions of each written Trust Agreement and as amended, creating each said fund. The Employer and Union agree that the Trustees named in each said Trust Agreement and their successors are and shall be its representatives and the Employer and Union consent to be bound by the acts of said Trustees and successor Trustees made pursuant to and in carrying out the provisions of said Trust Agreement. This Article may be modified during the term of this Agreement if there is written agreement to do so signed by both parties. The Unions membership may alter the amount to be deducted no more than once per year with District consent. APPENDIX B: CULINARY SERVICES CLASSIFICATIONS This appendix is supplemental to the parties’ collective bargaining agreement; it shall apply exclusively to those classifications identified and set forth herein.
Central Pension Fund. The Employer agrees to administer Employee contributions to the International Union of Operating Engineers Central Pension Fund (CPF) subject to successful future negotiation of a letter of understanding.
Central Pension Fund. It is agreed that for purposes of determining future wage rates, the Employer shall first restore the amount of wage reduction, which is currently the CPF contribution rate. It is further agreed that for purposes of calculating overtime compensation the Employer shall first restore the amount of the wage reduction then apply the applicable 1.5 wage multiplier required under the Fair Labor Standards Act and the collective bargaining agreement, then pay the resulting amount for overtime worked. The contribution rate per hour prevents any employee’s annual CPF contributions from exceeding $5000.00 in a year and therefore complies with limitations set forth under Minnesota Statute §356.24, subdivision 1(10) as amended in 2005. Members, by majority vote, may change the contribution rate at any time during the life of the Agreement, accompanied by a sixty (60) day notice to the employer. The Union and the Employer will work together to implement member approved changes as soon as practicable. This Letter of Understanding serves to detail the terms and conditions of pension contributions and express the undersigned parties’ understanding thereof. The CPF Plan of Benefits and the Agreement and Declaration of Trust will serve as the governing documents. This Memorandum will remain in effect from January 1, 2020 through December 31, 2022. As of January 1, 2020, this Memorandum may be extended, modified, or eliminated at either party’s request.
Central Pension Fund. A. Effective May 1, 2003, the County and the Union have explored the feasibility and process necessary for implementation of the language and contributions required for Employee participation in the International Union of Operating Engineers Central Pension Fund (hereinafter CPF). The CPF is a supplemental Pension Fund authorized by Minnesota Statutes, § 356.24, subdivision 1(10).
