INTERNATIONAL UNION OF PAINTERS & ALLIED TRADES. UNION & INDUSTRY PENSION FUND The only Agreement between the Employer(s) and the Union parties to this Agreement regarding pensions or retirement for employees covered by this Agreement is as follows:
14.1 Commencing with the first day of June 2019, and for the duration of the Agreement, and any renewals or extensions thereof, the Employer agrees to make payments to the IUPAT Union and Industry Pension Fund for each employee covered by this Agreement, as follows:
a. For each hour or portion thereof for which an employee receives pay, the Employer shall make a contribution as set forth in this Agreement to the above named Pension Fund; the amount noted on the applicable Schedule ”A” to be allocated to the IUPAT Union and Industry Pension Plan.
b. For the purpose of this Article, each hour paid for, including hours attributable to show up time, and other hours for which pay is received by the employee in accordance with the Agreement, shall be counted as hours for which contributions are payable.
c. Contributions shall be paid on behalf of any employee starting with the employee's first day of employment in a job classification covered by this Agreement. This includes, but is not limited to, Apprentices, Pre-Apprentices, trainees, and probationary employees.
d. The payments to the Pension Fund above shall be made to the IUPAT Union and Industry Pension Fund, which was established under an Agreement and Declaration of Trust, dated April 1, 1967. The Employer hereby agrees to be bound by and to the said Agreement and Declaration of Trust, as amended from time to time, as though he had actually signed the same.
e. The Employer recognizes and agrees to the Memorandum of Understanding (MOU) between both parties effective June 1, 2018, where employer contributions will be made according to the IUPAT Defined Benefit Pension Funding Improvement Plan. The increases agreed to in the MOU have been incorporated into the Total Package Increases for this Agreement as follows: June 1, 2019 $0.69/ per hour June 1, 2020 $0.69/ per hour June 1, 2021 $0.70/ per hour
14.2 The Employer hereby irrevocably designates as its representatives on the Board of Trustees such Trustees as are now serving, or who will in the future serve, as Employer Trustees, together with their successors. The Employer further agrees to be bound by all actions taken by the Trustees pursuant to the said Agreement and Declaration of Trust, as amended from time to time.
14.3 All contributions shall be made ...
INTERNATIONAL UNION OF PAINTERS & ALLIED TRADES. FINISHING TRADES INDUSTRY FUND (IUPAT-FTI)
16.1 Commencing with the first day of June 2019, and for the duration of this Agreement, any renewals or extensions thereof, the Employer agrees to make payments to the International Union of Painters and Allied Trades Finishing Trades Industry Fund (IUPAT-FTI) for each employee covered by this Agreement, as follows:
a. For each hour, or portion thereof, for which an employee receives pay, the Employer shall make a contribution as noted on the applicable Schedule “A” to the above- named Apprenticeship Fund.
b. Contributions shall be paid on behalf of any employee starting with the employee’s first hour of employment in a job classification covered by this Agreement. This includes, but is not limited to, Apprentices, Journeyworkers, trainees and probationary employees.
c. The payments to the Apprenticeship Fund required above shall be made to the (IUPAT-FTI) which was established under an Agreement and Declaration of Trust dated May 1, 1995. The Employer hereby agrees to be bound by and to the said Agreement and Declaration of Trust as though he/she had actually signed the same.
16.3 a. The Employer hereby irrevocably designates as its representatives on the Board of Trustees of International Fund (IUPAT-FTI) such Trustees as are now serving, or who will in the future serve, as Employer Trustees, together with their successors as provided for in the aforesaid Trust Indentures.
