Contribution Schedules. The employer will pay the same percentage share of the premium costs for the coverage of an employee with an enrolled domestic partner or domestic partner with dependent(s) as it pays toward the cost of coverage of an employee with a spouse or spouse with dependent(s). The employee will be subject to the annual schedule of premium contributions for employee, employee plus one, and employee plus family coverage. The scheduled premium contribution for the domestic partner’s and/or domestic partner’s dependent child(ren)’s benefits will be deducted from the employee’s payroll checks on an after-tax basis.
Contribution Schedules. The Company will pay the same percentage share of the premium costs for the coverage of an employee with a same sex spouse/domestic partner, or same sex spouse/domestic partner with dependent(s), as it pays toward the cost of coverage of an employee with an opposite sex spouse or opposite sex spouse with dependent(s). The employee will be subject to the annual schedule of premium contributions for employee, employee plus child(ren), employee plus spouse, and employee plus family coverage. The scheduled premium contribution for the same sex spouse/domestic partner’s and/or same sex spouse/domestic partner’s dependent child(ren)’s benefits will be deducted from the employee’s payroll checks on an after-tax basis.
Contribution Schedules. For all members eligible for the defined contribution provisions of the pension plan after January 1, 2002, they will contribute at the rate of 3% of earnings. The Company will match such employee contribution and vesting of these contributions will take place after two (2) years of plan membership. For employees in the defined contribution pension plan prior to December 31, 2001, they will remain in the current contribution schedule of 2.4 % of earning up to the YMPE and 4% in excess of the YMPE. The Company will contribute an amount for each member of the defined contribution pension plan based upon the following scale: Years of Service % of at least but less than Members Contributions 5 10 75 10 20 100 20 30 125 30-35 150 In addition, current members of the defined contribution pension plan will be given the option of switching to the new contribution schedule of 3% of earnings with 100% Company match. the election to switch contribution schedules must be made prior to June 1, 2002 and such election is irrevocable. Members of the defined benefit pension plan will contribute 2.4% of earning to the YMPE and 4% of earning in excess of the YMPE. Pension plan vesting (lock-in) will take place after two (2) years membership for pension earned from January 1, 1987. Earnings shall mean all earnings received by a Plan Member from the Employer in a calendar year including regular rate of pay, overtime pay, shift premium, vacation pay and vacation supplement. Not to include bonuses, incentive pay and any other type of remuneration. Benefits from the defined benefit pension plan at normal retirement will be: • Basic Benefit of $50.00 per year for each $100.00 contribution made by the employee • Non-Contributory Supplement shall be $16.10 per month per year of service paid to all active employees for continuous service. • Contributory Supplement of $3.30 per month for each full year of Company Pension Plan participation shall be paid to the employees.
Contribution Schedules
