Contribution Rates and Reserves Sample Clauses

Contribution Rates and Reserves. (1) Initial Contribution Rate Effective with benefit coverage commencing July 1, 2009, which coverage is based on hours and/or work status in June 2009, the contribution rate to be paid by Employers on behalf of each employee shall be as follows: 1400 Hour $1,044.00 (MOB without Spend-down) $983.00 (MOB with Spend-down) Non-1400 Hour: Three-Year Seniority Attained Prior to July 1, 2003: Working $339.00 (MOB) Bridged $234.00 (MOB) Three-Year Seniority Attained after June 30, 2003 (New Entrants) $125.00 (2) Maintenance of Benefits and Reserves For the period July 1, 2009 through June 30, 2011, the contribution rates shall be adjusted, as required to cover the cost of the schedules of ben- efits and to maintain adequate reserves as deter- mined by the Board of Trustees and the consultant to the Joint Benefit Trust. If at any time the Board of Trustees determines that the reserves of the Joint Benefit Trust will fall below an amount equal to three months of insurance premiums, benefit payments, and administrative expenses (as determined by the administrator and the consultant) within three months, the Board of Trustees shall increase the rates by an amount sufficient to maintain the reserves at the three- month level. Should this become necessary dur- ing the third year of this Agreement, the additional increment necessary to maintain reserves is not subject to the contribution rate cap set forth in paragraph 1 c. (3)(B).
Sample 1
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Related to Contribution Rates and Reserves

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • Defined Contribution Plan The Employer will establish the following Employer contribution programs in the existing salary deferral plans: » Beginning in 2006 and continuing throughout the term of the Agreement, a performance-based contribution

  • Defined Contribution Plans The Company does not maintain, contribute to or have any liability under (or with respect to) any employee plan which is a tax-qualified "defined contribution plan" (as defined in Section 3(34) of ERISA), whether or not terminated.

  • Initial Contributions The Members initially shall contribute to the Company capital as described in Schedule 2 attached to this Agreement.

  • Retirement Contribution 1. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay its cost of the 6.5% or 7.5% retirement contribution for employees in the bargaining unit who are covered under special Law Enforcement retirement plans. 2. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications.

  • Initial Contribution The member agrees to make an initial contribution to the Company of $____________.

  • Additional Contributions The Member is not required to make any additional capital contribution to the Company. However, the Member may at any time make additional capital contributions to the Company in cash or other property.

  • Allocation of Contributions You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.

  • Contribution Amounts The Sellers and the Underwriters agree that it would not be just or equitable if contribution pursuant to this Section 8 were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in Section 8.7. The amount paid or payable by an indemnified party as a result of the losses, claims, damages and liabilities referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 8, no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Shares underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.

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