DEFERRED BENEFIT CONTRIBUTION Sample Clauses
The Deferred Benefit Contribution clause establishes the employer's obligation to make contributions to a retirement or pension plan on behalf of employees, with the actual payment or allocation of these contributions occurring at a later, specified date. Typically, this clause outlines the timing, calculation method, and conditions under which the deferred contributions are credited to employees' accounts, such as after a vesting period or upon meeting certain employment milestones. Its core practical function is to provide a structured approach for funding employee benefits over time, ensuring both compliance with plan requirements and predictability for future benefit payouts.
DEFERRED BENEFIT CONTRIBUTION. Effective November 4, 2019, a contribution/payment of $0.19 per hour will be due (which, as of the renewal of the Agreement, has not been dedicated to a specific purpose). By June 30, 2019, the parties shall determine how the $0.19 will be utilized. Should the parties be unable to agree on the use of the $0.19, the matter shall be submitted to CIR for resolution. These tools shall be on the job or available at all times:
DEFERRED BENEFIT CONTRIBUTION. Section 23.01. DEFERRED BENEFIT CONTRIBUTION Agreement by and between the Washington, D.C. Chapter, National Electrical Contractors Association and Local Union No. 26, IBEW. It shall apply to all firms who sign a Letter of Assent to be bound by the terms of this Agreement. As used hereinafter in this Agreement, the term "Chapter" shall mean the Washington,
DEFERRED BENEFIT CONTRIBUTION. Section 12.01. DEFERRED BENEFIT CONTRIBUTION