IUPAT 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:
(a) Commencing with the 1st day of July 2010, and for the duration of the Agreement, and any renewals or extension thereof, the Employer agrees to make payments to the International Painters and Allied Trades Industry Pension Fund (IUPAT Industry Pension Fund) for each employee covered by this Agreement, as follows:
(b) For each hour or portion thereof for which an employee receives pay, the Employer shall make a contribution in accordance with Schedule A of Master Labor Agreement to the above named Pension Fund.
(c) 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.
(d) 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, Journeyman and Apprentices.
(e) The payments to the Pension Fund required above shall be made to the IUPAT 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.
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.
3. All contributions shall be made at such time and in such manner as the Trustees require; and the Trustees may at any time conduct an audit in accordance with Article VI, Section 6 of the said Agreement and Declaration of Trust.
4. If an Employer fails to make contributions to the Pension Fund within twenty days after the date required by the Trustees, the Union shall have the right to take whatever steps are necessary to secure compliance with this Agreement, any other provision thereof to the contrary notwithstanding, and the Employer shall be liable for all costs of collection...
IUPAT INDUSTRY PENSION FUND a) Commencing with the 1st day of June, 1995, and for the duration of the Agreement, and any renewals or extension thereof, the Employer agrees to make payments to the IUPAT Industry Pension Fund for each employee covered by the agreement, as follows:
IUPAT INDUSTRY PENSION FUND. Employers signatory to this Sacramento Area Addendum working within the Counties, as defined above, shall have Article 23, Section C(5) of the Northern California Glaziers Master Agreement amended to read as follows:
a) As of January 1, 2024, the bargaining unit reached the twenty percent (20%) increase in contributions from their January 1, 2022, contribution rate, reaching the rates required as per the IUPAT Pension Fund document.
IUPAT INDUSTRY PENSION FUND. The Employer and the Union hereby agree to
a) Effective January 1, 2023, there shall be an increase of fifteen percent (15%) above the January 1, 2022, hourly contribution rate of $2.10. The fifteen percent (15%) increase includes the aforementioned IUPAT Constitutional increase and is a total increase of thirty-two cents ($0.32).
IUPAT INDUSTRY PENSION FUND. The Employer and the Union hereby agree to the continuation of the existing IUPAT Industry Pension Fund (“National Pension Fund”).
IUPAT INDUSTRY PENSION FUND. The Employer and the Union hereby agree to the continuation of the existing IUPAT Industry Pension Fund (“National Pension Fund”).
a) As of January 1, 2024, the bargaining unit reached the twenty percent (20%) increase in contributions from their January 1, 2022, contribution rate, reaching the rates required as per the IUPAT Pension Fund document.
IUPAT INDUSTRY PENSION FUND. The Employer and the Union herby agree to the continuation of the existing IUPAT Industry Pension Fund (“National Pension Fund”). Effective January 1, 2022, and each year thereafter, the IUPAT Pension contribution called for in this Agreement shall increase by a minimum of five percent (5%) of the total negotiated increase in wages and benefits for the year. The five percent (5%) increase to the pension shall be taken from the aforementioned increase. Such increase will be rounded up to the nearest xxxxx. The Union shall notify the Employers of the new pension rate as they occur. On January 14, 2022, the Pension Fund elected to enter “Red Zone” status, requiring the adoption of a Rehabilitation Plan. The Rehabilitation Plan provides bargaining parties the opportunity to elect between two proposed “alternate schedules” of contributions and benefits or to accept the Rehabilitation Plan’s Default Schedule. The parties to this Agreement hereby elect “Alternate 2” and adopt the following required increases to hourly Pension Fund contributions. • Effective January 1, 2024, there shall be an increase of ten percent (10%) above the January 1, 2022 hourly contribution rate of $8.18. The ten percent (10%) increase shall include the aforementioned Constitutional increase, which totals eighty-two cents ($0.82).
