Defined Benefit Pension Plan. 1. The Employer and the Union hereby agree to the continuation of the existing Northern California Glaziers, Architectural Metal and Glass Workers Pension Trust Agreement ("Defined Benefit Pension Trust").
2. Within the limits of the total wage package contained in the attached Wage Schedule A, and subject to any minimum contribution rate which may be established by the Trustees from time to time, the Employer shall contribute to the Defined Benefit Pension Trust an amount determined by the Union on January 1 of each year of this Agreement, on each employee covered under this Agreement on all hours paid. Such payments shall be made pursuant to the provisions of Article 28. Contributions to the Defined Benefit Pension Trust shall include regular pension contributions and if designated by the Union, supplemental retiree contributions.
Defined Benefit Pension Plan. Where contributions were made to the Northern California Glaziers Pension Trust Fund for hours reported in excess of those for which the employee worked, overpayments shall be credited or refunded to the Employer, and the hours backed out of the employees account;
Defined Benefit Pension Plan. This Plan is applicable to all bargaining unit seniority employees (except CPET, ICET, and MTIM students) on the seniority list as of June 2, 2010.
Defined Benefit Pension Plan. Employees in the bargaining unit shall participate in accordance with the eligibility provisions of the CBS Defined Benefit Pension (the “Plan”). The rate at which the employees shall contribute to the Plan shall be as established from time to time in accordance with the terms of the Plan. The rate at which the Employer shall contribute to the Plan is limited to the fixed amount established from time to time in accordance with the terms of the Plan. The parties agree that the Plan is a defined benefit pension plan to which section 14(3) of the Pension Benefits Act, R.S.O. 1990 c. P.8 and section 6(1) of Regulation 909 under the Pension Benefits Act, supra apply. For purposes of clarity the contribution rate of both employees and the Employer are described in the Schedule “B” attached.
Defined Benefit Pension Plan. Where contributions were made to the Bay Area Painters and Tapers Pension Plan for hours reported in excess of those for which the employee worked, overpayments shall be credited or refunded to the Employer, and the hours backed out of the employees account.
Defined Benefit Pension Plan. (a) Nurses shall enrol in the Pension Plan in accordance with the provisions and requirements of the Plan.
(b) Nurses in the bargaining unit shall participate in accordance with the eligibility provisions of the CBS Defined Benefit Pension (the “Plan”). The rate at which the nurses shall contribute to the Plan shall be as established from time to time in accordance with the terms of the Plan. The rate at which the Employer shall contribute to the Plan is limited to the fixed amount established, from time to time, in accordance with the terms of the Plan. The parties agree that the Plan is a defined benefit pension plan to which section 14(3) of the Pension Benefits Act, R.S.O. 1990 c. p. 8 and section 6(1) of Regulation 909 under the Pension Benefits Act, supra, apply. For purposes of clarity, the contribution rate of both nurses and the Employer are described in the Sample Contribution Schedule below. SAMPLE CONTRIBUTION SCHEDULE Employer Total Annual Members’ Contribution Cost Contribution Rate 14.00% 6.00% 8.00% 13.00% 5.50% 7.50% 12.00% 5.00% 7.00% 11.75% 4.88% 6.88% 11.50% 4.75% 6.75% 11.25% 4.75% 6.50% 11.00% 4.75% 6.25% 10.75% 4.75% 6.00% 10.50% 4.75% 5.75% 10.25% 4.75% 5.50% 10.00% 4.75% 5.25% 9.75% 4.75% 5.00% 9.50% 4.75% 4.75% 9.00% 4.50% 4.50% 8.00% 4.00% 4.00% 7.00% 3.50% 3.50%
1. The above contribution rates are prior to utilization of any surplus to reduce contributions.
2. Should total annual cost be set at a level greater than fourteen percent (14%), member and Employer contribution rates will be such that the Employer contribution rate is two percent (2%) greater than the members’ contribution rate.
3. Should total annual cost be set at a level lower than seven percent (7%), member and Employer contribution rates will be such that the Employer contribution rate is equal to the members’ contribution rate.
4. Members’ contribution rate and Employer contribution rate should be interpolated from the above table where the total annual cost falls between amounts shown.
(c) A regular part time nurse, who has completed her probationary period, and who becomes eligible but does not join the Canadian Blood Services Pension Plan in accordance with the rules and regulations of the Plan, shall receive four percent (4.0%) of her individual straight time earnings in lieu of pension.
(d) A regular part time, nurse who becomes eligible and joins the Canadian Blood Services Pension Plan in accordance with the rules and regulations of the Plan, shall no long...
Defined Benefit Pension Plan. AMFA (i) waives any claim it may have (including but not limited to any claim or grievance under Letter of Agreement 02-1M of the 2003 Mechanics’ Agreement) that the termination of the United Air Lines, Inc. Union Ground Employees’ Retirement Plan (the “Plan”) does or would violate the terms and conditions of the 2003 Mechanics’ Agreement or any other agreements or status quo between the parties, and (ii) shall not otherwise oppose any efforts to terminate the Plan; provided, however, that nothing in this Letter of Agreement shall be construed, deemed or characterized by UAL or the Company as any agreement of any form by AMFA that the Plan should be terminated, or as limiting AMFA’s right to proceed against the PBGC regarding the issue of the termination date of the Plan. AMFA further agrees that, under the 2005-2009 Mechanics’ Agreement, the Company shall not be required to maintain the Plan, or provide any defined benefit pension benefits whether from a plan, including the Plan or otherwise, and may terminate the Plan without violating the 2005- 2009 Mechanics’ Agreement or any other agreements or status quo between the parties.
Defined Benefit Pension Plan. Executive shall be entitled to participation in the Company’s defined benefit Retirement Plan currently managed as part of the Allegheny Group Retirement Plans on the same basis that other employees of the Company participate in such plan, or its successor plan(s), during the Term of this Agreement.
Defined Benefit Pension Plan. The Hydro One Pension Plan (Registration # 1059104) and the successor pension plan of Inergi LP (Registration #1079714) constitute the present Defined Benefit Pension Plan (“DB Plan”) and form part of this collective agreement. The transfer of assets from the Hydro One Pension Plan to the Inergi Defined Benefit Pension Plan was completed in May 2008. The provisions of the DB Plan are generally described in the brochure “A Guide to your Hydro One Pension Plan” (June 23, 2002). Changes to the DB Plan affecting Society-represented members of the plan, other than legislative changes, shall be made only upon mutual consent. It is agreed that normal administrative matters such as changing financial advisors are not considered to be changes to the DB Plan, subject to any understanding, agreement or decision to the contrary with the PWU.
22.1 The employer shall not request legislation, regulations, or Order-in-Council approval or make rules which would change pension benefits, unless upon mutual consent. Moreover, the employer shall not seek legislation to change access to surplus unless upon mutual consent.
22.2 Any changes to actuarial assumptions used for the purpose of filing a funding valuation shall be discussed with the Society prior to filing. The Society reserves the right to challenge the actuarial assumptions used for such filing.
Defined Benefit Pension Plan. The present Defined Benefit Pension Plan shall continue to be available for existing employees/participants in the Defined Benefit Pension Plan. The Company believes the Union and its members who belong to the Finning (Canada), A Division of Finning International Inc. Retirement Plan should be provided updated information on an annual basis.
