Diversion of Wage Increase to Fringe Benefit Program. 1. It is agreed that any diversion of a scheduled wage increase to a fringe benefit program provided for in this Agreement, may be made, providing the Union gives written notice to the Employer at least sixty (60) days prior to the date the wage increase is effective.
Diversion of Wage Increase to Fringe Benefit Program. It is agreed that any diversion of a scheduled wage increase to a fringe benefit program provided for in this Agreement may be made providing the Union gives written notice to the Employer at least sixty (60) days prior to the date wage increase is to be effective. Such notice to the Construction Employers Association shall be deemed sufficient notice. For any agreed upon wage increase, the funding needs as determined by the Actuary and Board of Trustees of the Fringe Benefit Funds defined in Article VII will be allocated first, with the balance of any wage increase to be allocated by the Union. Should the Trustees of Laborers’ Local #310 Pension Plan call for a reduction in the amount of hourly supplemental, non-accruing contributions, either party may call a bargaining meeting to negotiate the proper reallocation of such contributions. Should the parties fail to agree on the proper reallocation of such contributions within 30 days of said bargaining meeting, either party may refer the matter to arbitration in the American Arbitration Association and the appointed arbitrator shall be authorized to determine the allocation.
