INDUSTRY FUND a. The Employer shall contribute and remit such contributions to the Union’s Industry Fund as specified in Schedule “A” for each hour worked by each employee covered by this Agreement.
b. The Industry Fund shall be used by the Union for the promotion of the industry, to promote unionized construction, and for other purposes as determined by the Union to strengthen the position of the Union and its members in the industry.
c. The total amount owing shall be remitted monthly to the Union by the 15th of the month following the month for which the contributions were made. Contributions shall be itemized separately on the remittance form.
HUMANITY FUND The Company agrees to deduct on a weekly basis the amount of (not less than $0.01 per hour) from the wages of all employees in the bargaining unit for all hours worked and, prior to the 15th day of the month following, to pay the amount so deducted to the “Humanity Fund” and to forward such payment to United Steelworkers National Office, 000 Xxxxxxxx Xxxxxx Xxxx, Xxxxxxx, Xxxxxxx X0X 0X0, and to advise in writing both the Humanity Fund at the aforementioned address and the local Union that such payment has been made, the amount of such payment and the names of all employees in the bargaining unit on whose behalf such payment has been made. The first “Humanity Fund” deduction as aforesaid shall be for the fifth week following ratification of this Agreement. It is understood and agreed that participation by any employee in the bargaining unit in the programme of deductions set forth above may be discontinued by any employee in the bargaining unit after the receipt by the Company and the local Union of that employee’s written statement of his desire to discontinue such deductions from his pay which may be received during the four weeks following ratification of this Agreement or at any time thereafter.
Fund Administration Treasury Services Prepare for the review by designated officer(s) of the Trusts’ financial information that will be included in the Trusts’ semi-annual and annual shareholder reports (which shall also be subject to review by the Trusts’ legal counsel), and other quarterly reports (as mutually agreed upon), including tax footnote disclosures where applicable;
FEMA Fund Certifications Submission of this proposal is Vendor’s certification that Vendor agrees to this term. Vendor certifies that IF and when Vendor accepts a TIPS purchase paid for in full or part with FEMA funds, Vendor certifies that: (1) Vendor agrees to provide the TIPS Member, the FEMA Administrator, the Comptroller General of the United States, or any of their authorized representatives access to and rights to reproduce any books, documents, papers, and records of the Contractor which are directly pertinent to this contract for the purposes of making audits, examinations, excerpts, and transcriptions. The Vendor agrees to provide the FEMA Administrator or an authorized representatives access to construction or other work sites pertaining to the work being completed under the contract. Vendor acknowledges and agrees that no language in this contract or the contract with the TIPS Member is intended to prohibit audits or internal reviews by the FEMA Administrator or the Comptroller General of the United States.
Fund Administration ● Prepare annual and semi-annual financial statements utilizing templates for standard layout and printing ● Prepare Forms N-CSR and N-PX ● Prepare and file Forms N-PORT and N-CEN* ● Host annual audits ● Calculate monthly SEC standardized total return performance figures ● Prepare required reports for quarterly Board meetings ● Monitor expense ratios ● Maintain budget vs. actual expenses ● Manage fund invoice approval and bill payment process ● Assist with placement of Fidelity Bond and E&O insurance ● Assist with proxy statements and shareholder meetings ● Calculate daily NAVs ● Transmit NAVs to NASDAQ, transfer agent, adviser and other third parties ● Compute yields, expense ratios, portfolio turnover rates, etc. ● Reconcile cash and investment balances with the Custodian ● Support preparation of financial statements ● Prepare and maintain required Fund Accounting records in accordance with the 1940 Act ● Obtain security valuations from appropriate sources consistent with the Trust’s pricing and valuation policies ● Coordinate EDGARization and file Forms N-CSR, N-PX and other SEC filings ● File Fidelity Bond with SEC ● Coordinate and assist with annual shareholder proxy filing and mailing process ● Send notices of press releases to Fund’s securities exchange and maintain compliance with such exchange requirements. ● Compile and distribute board materials for quarterly board meetings ● Attend and prepare initial draft of minutes for quarterly board meetings ● Maintain board compliance calendar for the Trust with schedule for quarterly board matters and items ● Support secondary offerings through coordination with legal counsel. ● Perform daily prospectus & SAI, SEC investment restriction monitoring ● Provide warning/Alert notification with supporting documentation ● Provide quarterly compliance testing certification to Board of Directors ● Calculate dividend and capital gain distribution rates ● Prepare ROCSOP and required tax designations for Annual Report ● Prepare and coordinate filing of income and excise tax returns o Audit firm to sign all returns as paid preparer ● Calculate/monitor book-to-tax differences ● Provide quarterly Subchapter M compliance monitoring and reporting ● Provide tax re-allocation data for shareholder 1099 reporting ● Prepare and coordinate distribution of 19a-1 filings as required ● Provide the Trust with individuals to serve in the Trust’s President (PEO), Treasurer (PFO), Secretary and Chief Compliance Officer positions. +
Settlement Administration 5.1. The Settlement Administrator shall, under the supervision of the Court, administer the relief provided by this Settlement Agreement by processing Claim Forms in a rational, responsive, cost effective, and timely manner. The Settlement Administrator shall maintain reasonably detailed records of its activities under this Settlement Agreement. The Settlement Administrator shall maintain all such records as are required by applicable law in accordance with its normal business practices and such records will be made available to Class Counsel and Defendants’ Counsel upon request. The Settlement Administrator shall also provide reports and other information to the Court as the Court may require. The Settlement Administrator shall provide Class Counsel and Defendants’ Counsel with information concerning Notice, administration, and implementation of the Settlement Agreement. Should the Court request, the Parties, in conjunction with the Settlement Administrator, shall submit a timely report to the Court summarizing the work performed by the Settlement Administrator, including a report of all amounts paid to each Settlement Class Member on account of Approved Claims. Without limiting the foregoing, the Settlement Administrator shall:
(a) Forward to Defendants’ Counsel, with copies to Class Counsel, all documents and other materials received in connection with the administration of the Settlement Agreement within thirty (30) days after the date on which all Claim Forms have been finally approved or disallowed per the terms of the Settlement Agreement;
(b) Receive requests for exclusion and other requests from the Settlement Class and promptly provide a copy of such requests to Class Counsel and Defendants’ Counsel upon receipt (“the Opt-Out List”). If the Settlement Administrator receives any exclusion forms or other requests from the Settlement Class after the Objection/Exclusion Deadline, the Settlement Administrator shall promptly provide copies thereof to Class Counsel and Defendants’ Counsel;
(c) Provide weekly reports to Class Counsel and Defendants’ Counsel, including without limitation, reports regarding the number of Claim Forms received, the number determined to be rejected, the number of Approved Claims, and the number of calls to be paid per Settlement Class Member; and
(d) Make available for inspection by Class Counsel or Defendants’ Counsel the Claim Forms, any documentation or other evidence submitted in support thereof, and any correspondence received by the Settlement Administrator at any time upon reasonable notice.
5.2. The Settlement Administrator shall employ reasonable procedures to screen claims for abuse or fraud, including without limitation, by cross-referencing the information provided on the Claim Form against the Class List, and by reviewing the evidentiary proof submitted by Settlement Class Members. The Settlement Administrator shall reject a Claim Form, or any part of a claim for a payment reflected therein, where there is evidence of abuse or fraud. The Settlement Administrator shall also reject a Claim Form that does not contain all requested information necessary to screen the claim for fraud or abuse, after giving the claimant a reasonable opportunity of no greater than twenty-one (21) days to provide any requested missing information. The Settlement Administrator shall notify the claimant regarding the missing information via email, telephone call or direct mail, whichever is the most practical based on the information provided in the Claim Form. The validation of all Claim Forms by the Settlement Administrator shall occur no later than fourteen (14) days after the Effective Date and the Settlement Administrator shall give notice of such validation to counsel on that date.
5.3. Defendants and the Class Representatives will have the right to challenge the number of calls received by each Settlement Class Member that are eligible for payment. All challenges will be presented to the Special Master who will make a binding determination as to the number of calls received by each Settlement Class Member entitled to receive payment on account of an Approved Claim. To effectuate such challenge, the party making the challenge must provide email notice to the Settlement Administrator, Special Master and opposing counsel informing them of the claim(s) that party seeks to challenge and the factual basis for that challenge within thirty (30) days of the Settlement Administrator’s validation of all Claim Forms as an Approved Claims determination of the number of calls entitled to a pro rata payment, and notice of the validation. Challenges must be made to individual or designated groups of Claim Forms; so-called “blanket” or “mass” challenges to all Claim Forms without differentiation will not be allowed.
5.4. For Settlement Class Members that submit a Claim Form indicating that they received three (3) calls or fewer, the presumption of three (3) calls can be rebutted by Defendants’ challenges. All other Settlement Class Members will have the ultimate burden if their Claim Form is challenged to demonstrate the number of calls, greater than one (1), that they received.
5.5. In the event of a challenge, the Settlement Administrator shall notify each Settlement Class Member via email, telephone call or direct mail, whichever is the most practical based on the information provided in the Claim Form, that (i) the Settlement Class Member must within thirty (30) days either submit supplemental documentation to prove each call claimed or schedule a telephonic hearing with the Special Master where the Settlement Class Member must testify as to the basis for each separate call claimed, (ii) the Settlement Class Member has the burden of proving the specific number of calls received, and (iii) that the Settlement Class Member will still receive a payment on account of an Approved Claim regardless of the outcome of the challenge. Following the Claims Deadline, but in no event later than one hundred eighty (180) days after Final Judgment, the Special Master will make a determination regarding the claims under challenge, including the number of calls received by the Settlement Class Member
(1) based on the information already submitted, and (2) by requiring additional information in the form of (i) either supplemental documentation to prove each call claimed or testimony before the Special Master as to the basis for each separate call claimed. The Special Master’s determination regarding the claims under challenge shall be final and binding on the Parties. If the challenged Settlement Class Member does not timely submit the supplemental documentation or testify before the Special Master, the Special Master shall sustain the Defendants’ challenge and the Settlement Class Member will have an Approved Claim for one
(1) call. If the challenged Settlement Class Member does timely submit the supplemental documentation or testify before the Special Master, the Special Master will then, in his sole discretion, make a determination as to the number of calls for which the Settlement Class member can recover. To the extent the Special Master sustains Defendants’ challenge, the Settlement Class member will be permitted to recover for at least one (1) call.
Central Administration k. Professionals
Pension Fund 1. The Employer shall make contributions to a pension trust fund known as the “Building Service 32BJ Pension Fund” to cover bargaining unit employees who are regularly employed twenty (20) or more hours per week, including paid time off. The Employer shall also make contributions on behalf of other bargaining unit employees to the extent that such employees work a sufficient number of hours to require benefit accrual pursuant to Section 204 of ERISA. Employees unable to work and who are on statutory short term disability benefits or workers’ compensation shall continue to accrue pension credits without employer contributions during the periods of disability up to six (6) months or the period of the disability, whichever is earlier.
2. Effective January 1, 2020, the rate of contribution to the Fund shall be $118.75 per week for each covered employee, payable when and how the Trustees determine. Effective January 1, 2021, the rate of contribution to the Fund shall be $122.75 per week for each covered employee. Effective January 1, 2022, the rate of contribution to the Fund shall be $126.75 per week for each covered employee. Effective January 1, 2023, the rate of contribution to the Fund shall be $130.75 per week for each covered employee. The bargaining parties agree that the foregoing contribution requirements for the Pension Fund are consistent with the contribution rate schedules required by the Pension Fund’s rehabilitation plan under Section 432 of the Internal Revenue Code.
3. Any Employer who becomes party to this Agreement and who immediately prior thereto has a pension plan in effect which provides benefits equivalent to or better than the benefits provided herein, may, upon agreement of the Union and RAB, cover its employees under its existing plan in lieu of this Fund and be relieved of the obligation to make contributions to the Fund for the period of such other coverage.
4. If the Employer has an existing plan as referred to above, it shall not discontinue or reduce benefits without prior Union consent and the existing plan shall remain obligated to the employee(s) for whatever benefits they may be entitled.
5. In no event shall the Trustees or any of them, the Union or the RAB, directly or indirectly, by reason of this Agreement, be understood to consent to the extinguishment, change or diminution of any legal rights, vested or otherwise, that anyone may have in the continuation in existing form of any such Employer pension plan, and the Trustees or any of them, the Union and the RAB shall be held harmless by an Employer against any action brought by anyone covered under such Employer’s plan asserting a claim based upon anything done pursuant to Section 4. Notice of the pendency of any such action shall be given to the Employer who may defend the action on behalf of the indemnitee.
6. The parties agree that if there are new governmental regulations issued that implement the excise tax provisions of the Pension Protection Act (PPA), or there is further governmental reform relating to the funding of pension funds, the parties shall meet to discuss what steps, if any, might be appropriate to ameliorate any adverse impact on the Funds, its participants and employers. To the extent that any employer covered by this Agreement, with respect to employees covered by this Agreement, becomes subject to an automatic employer surcharge or any excise tax, penalty, fee, increased contribution rate or other amount relating to the funding of the Pension Fund (but not including interest, liquidated damages, or other amounts owed as a consequence of failing to make timely remittance of contributions to the Pension Fund) under Sections 412 or 432 of the Internal Revenue Code, then the parties agree that the required contributions to the Health Fund, Training Fund and/or Legal Services Fund for each employer covered under this Agreement shall be reduced dollar for dollar by the aggregate amount of any additional contribution and/or surcharge amounts, excise taxes, penalties, fees or other amounts that such employer is required to pay, as provided in this subsection. Unless a different allocation among the Funds is agreed upon in advance of any applicable due date for such contributions by the Presidents of the RAB and Local 32BJ, such amount shall be allocated solely from the Health Fund.
Tax Administration (a) The Trust and the Certificate Paying Agent, upon direction from the Sponsor, shall comply with all withholding and backup withholding tax requirements under United States federal (including, without limitation, Sections 1441, 1442, 1445, 1446 and 1471 through 1474 of the Code), state and local law. The Certificate Paying Agent shall request, and the Certificateholder shall provide to the Certificate Paying Agent, such forms or certificates as are necessary to establish an exemption from withholding and backup withholding tax with respect to the Certificateholder and any representations and forms as shall reasonably be requested by the Trust to assist it in determining the extent of, and in fulfilling, its withholding and backup withholding tax obligations. The Certificateholder, by acceptance of the Certificate, agrees to provide to the Certificate Paying Agent, upon its request, the FATCA Information. In addition, the Certificateholder, by acceptance of the Certificate, agrees that the Certificate Paying Agent has the right to withhold any amounts (properly withholdable under law and without any corresponding gross-up) payable to the Certificateholder that fails to comply with the requirements of the preceding sentence.
(b) The Certificate Paying Agent, upon direction from the Sponsor, shall deliver or shall cause to be delivered to the Certificateholder such information, reports or statements as may be required by the Code and applicable Treasury Regulations and as may be required to enable the Certificateholder to prepare the Certificateholder’s federal and state income tax returns. In no event shall the Certificate Paying Agent or the Owner Trustee be liable for any liabilities, costs or expenses of the Trust, the Certificateholder or the Noteholders arising out of the application of any tax law, including federal, state, foreign or local income or excise taxes or any other tax imposed on or measured by income (or any interest, penalty or addition with respect thereto or arising from a failure to comply therewith) except the Certificate Paying Agent shall be liable for any such liability, cost or expense attributable to any act or omission, willful misconduct, bad faith, fraud, or negligence by the Certificate Paying Agent in breach of its obligations under this Agreement.
Industry fund compliance 22.1 The Employer shall ensure that all its Employees covered by this Agreement are compliant with the industry schemes lncolink, Superannuation (including CBUS where the default fund is adopted) and LeavePlus.
22.2 It is acknowledged that information confirming compliance (i.e. registration and contribution status) may be provided by the industry scheme/s to the Parties on request, provided that any individual whose information is to be made available has consented to such information being provided.
22.3 On commencement, and in accordance with fund procedures, the Employer shall register the Employee/s with the relevant industry funds. These are CBUS for superannuation, Incolink for severance pay, portable sick leave, xxxx xxxxx insurance and income protection insurance, and LeavePlus for long service entitlements.
22.4 It is a specific requirement that the Employer shall ensure that all payments to the abovementioned funds and schemes are up to date and made in full in accordance with the relevant Trust Deed or scheme of the fund.
22.5 When an Employee or their representative raises a concern in respect of the Employee’s entitlements and/or the Employer’s compliance with payments and/or registration with the abovementioned funds or schemes, the Employer shall provide to the Employee, or their representative if requested by the Employee, all relevant information to assist in resolving any concerns.