Existing Volunteers Sample Clauses

Existing Volunteers. 1. Any Party that sponsors a volunteer firefighter pension fund ("Volunteer Pension Fund") for the purpose of providing pension benefits to qualified volunteer firefighters in accordance with the Colorado Volunteer Firefighter Pension Act, C.R.S. § 31-30- 1100, et seq., shall continue to sponsor its Volunteer Pension Fund on and after the Effective Date or the date that such Party executes this Agreement, whichever is later, for the benefit of its volunteer Emergency Services personnel participating in the Volunteer Pension Fund who are transferred to the Authority pursuant to paragraph 12(a)(ii)(2) or 12(c) above. Such Party(ies) and the Authority shall work diligently to substitute the Authority as the sponsoring entity on the Volunteer Pension Fund plan as quickly as reasonably possible, consistent State law and FPPA's requirements. The Authority shall be solely responsible for all contributions to a Party's Volunteer Pension Fund after payment of the Party's First Party Initial Contribution or Subsequent Party Initial Contribution, as applicable, pursuant to paragraph 7(a)(ii)(2) above, regardless whether the Authority has been substituted as the sponsoring entity. Prior to the date of the Authority's substitution as the sponsoring entity, each Party shall be solely responsible for all other terms and conditions of its Volunteer Pension Fund, including, without limitation, its administration and benefits. Notwithstanding the foregoing, a Party shall obtain written consent from the Authority prior to effecting any change in its Volunteer Pension Fund plan's terms and conditions, such as increasing benefits, that will increase the Authority's financial obligation with respect to making contributions. 2. The Authority shall recognize a volunteer's years of volunteer service to a Party toward his/her vesting in pension benefits, provided that the volunteer has met all State training requirements and any other additional requirements imposed by that Party to maintain "good standing" for purposes of receiving pension credit for such years.
Sample 1
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