NATIONAL ELECTRICAL ANNUITY PLAN (NEAP. It is agreed that in accord with the IBEW - District Ten - NECA Individual Equity Retirement Plan Agreement entered into between the National Electrical Contractors Association, Inc., and the International Brotherhood of Electrical Workers on December 11, 1973, as amended, and now delineated as the National Electrical Annuity Plan Agreement and Trust, that unless authorized otherwise by the National Electrical Annuity Plan (NEAP), the individual employer will forward monthly to NEAP's designated collection agent an amount equal to two dollars and ten cents (2.10) per hour worked for the Journeyman contribution obligation, and the following for the Apprentice contribution obligation: Schedule A Apprentices Contributions to NEAP Annuity shall be paid as follows: 1st & 2nd period are frozen at $0.35 per hour. 1st period $0.35 per hour worked 2nd period $0.35 per hour worked 3rd period $1.30 per hour worked 4th period $1.35 per hour worked 5th period $1.45 per hour worked 6th period $1.65 per hour worked Schedule B apprentices Contributions to NEAP Annuity shall be paid as follows: 1st & 2nd period are frozen at $0.35 per hour. 1st period $0.35 per hour worked 2nd period $0.35 per hour worked 3rd period $1.30 per hour worked 4th period $1.35 per hour worked 5th period $1.40 per hour worked 6th period $1.60 per hour worked Future apprentice increases to NEAP are based on the current contribution + (the wage percentage of JW rate multiplied by the JW increase to NEAP) rounded to the nearest nickel. Together these contributions shall be forwarded with a completed payroll report prescribed by XXXX. The payment shall be made by check or draft and shall constitute a debt due and owing NEAP on the last day of each calendar month, which may be recovered by suit initiated by NEAP or its assignee. The payment and the payroll report shall be mailed to reach NEAP not later than 15 calendar days following the end of each calendar month. The individual Employer hereby accepts, and agrees to be bound by, the National Electrical Annuity Plan Agreement and Trust. An individual Employer who fails to remit as provided above shall be additionally subject to having his Agreement terminated upon 72 hours notice in writing being served by the Union, provided the individual employer fails to show satisfactory proof that the required payments have been paid to the appropriate collection agent. The failure of an individual employer to comply with the applicable provisions of the Nation...
