Common use of IRONWORKER MANAGEMENT PROGRESSIVE ACTION COOPERATIVE TRUST (IMPACT Clause in Contracts

IRONWORKER MANAGEMENT PROGRESSIVE ACTION COOPERATIVE TRUST (IMPACT. (a) Each employer working in the territorial jurisdiction of local Unions, 700, 721, 736, 759, 765 and 786 will actively participate in IMPACT. The Financial commitment to the trust agreement will be three quarters (3/4) of one percent of the Journeyperson wage outlined in the schedules contained in the agreement. This commitment will be born equally by both Labour and Management and will be reflected in the District Council fund for deduction and remittance to the appropriate parties for each hour earned by employees covered by this agreement to IMPACT. (b) Employer deductions shall be submitted by the 15th day of the month following the month in which the hours were earned, and at no time will the I.M.P.A.C.T. contributions be paid directly to the Employee. A charge of three percent (3%) of any unpaid amount of contributions shall become due and payable to the Trust by the Employer on the 30th day following the day designated for payment by the Collective Agreement if effect between the Employer and the Union. A further charge of three percent (3%) of any monies owing shall become due and payable on the expiry of each succeeding thirty (30) day period, until all monies due and owing (including both contributions and charges) have been paid. (c) It is understood that the contributions under this Article in regard to overtime work shall bear the overtime premium applicable for hours earned.

IRONWORKER MANAGEMENT PROGRESSIVE ACTION COOPERATIVE TRUST (IMPACT. (a) Each employer working in the territorial jurisdiction of local Unions, 700, 721, 736, 759, 765 and 786 will actively participate in IMPACT. The Financial commitment to the trust agreement will be three quarters five eighths (3/45/8) of one percent of the Journeyperson wage outlined in the schedules contained in the agreement. This commitment will be born equally by both Labour and Management and will be reflected in the District Council fund for deduction and remittance to the appropriate parties for each hour earned by employees covered by this agreement to IMPACT. (b) Employer deductions shall be submitted by the 15th day of the month following the month in which the hours were earned, and at no time will the I.M.P.A.C.T. contributions be paid directly to the Employee. A charge of three percent (3%) of any unpaid amount of contributions shall become due and payable to the Trust by the Employer on the 30th day following the day designated for payment by the Collective Agreement if effect between the Employer and the Union. A further charge of three percent (3%) of any monies owing shall become due and payable on the expiry of each succeeding thirty (30) day period, until all monies due and owing (including both contributions and charges) have been paid. (c) It is understood that the contributions under this Article in regard to overtime work shall bear the overtime premium applicable for hours earned.