Payments to Fringe Benefit Trust Funds Sample Clauses

Payments to Fringe Benefit Trust Funds. A. It is agreed that the Southern California Plastering Institute trust, the Southern California Plastering Institute Group Benefit Trust, the Southern California Plastering Institute, Inc., the Southern California Plastering Institute Pension Trust, the Southern California Plastering Institute Apprenticeship and Training Trust, the Southern California Plastering Institute Vacation Trust and Vacation Administration Trust, the Southern California Plastering Industry Labor-Management Work Preservation Trust, and the Southern California Plastering Institute Administrative Industry Fund Trust shall be continued by the presently acting Trustees, in the same manner and form as set forth in previous contracts, amendments, and modifications thereto, except as modified hereby. B. The Trusts set forth above shall accept fringe contributions from only those Contractors who are signatory to an Agreement with the Union who is party to this Agreement. These Trustees shall accept fringe benefit contributions from political subdivisions, governmental or public agencies, city, county, state, or federal, or any Employer of Plasterers who is not legally permitted to sign collective bargaining agreements. C. On a separate report form designated and provided by the Southern California Plastering Institute Trust, Contractors covered by this Agreement shall report a monthly breakdown listing each job or project by address, and listing the hours worked on that job for that report month. Each job worked during that reporting period on which fewer than 40 plasterer man-hours are worked, need not be listed separately, but may be lumped into a miscellaneous listing. Superintendents and other supervisory personnel whose work is spread over several jobs each day shall be shown as a supervision listing. D. Upon request from the Trustees of the Southern California Plastering Institute, Inc., the Employer shall present all his business records pertaining to reports, payments for labor or fringe benefit contributions, which shall include, without limitation, all time cards, payroll ledgers, quarterly payroll tax returns to the State and Federal authorities, cash disbursements journal, Worker’s Compensation reports, canceled checks and/or invoices in connection with individual items, and any and all other records relevant to the enforcement of the Agreement. Said records shall be subject to examination by representatives or auditors elected by the Trustees.
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Related to Payments to Fringe Benefit Trust Funds

  • Deferred Compensation Account The Employer shall maintain on its books and records a Deferred Compensation Account to record its liability for future payments of deferred compensation and interest thereon required to be paid to the Employee or his beneficiary pursuant to this Agreement. However, the Employer shall not be required to segregate or earmark any of its assets for the benefit of the Employee or his beneficiary. The amount reflected in said Deferred Compensation Account shall be available for the Employer's general corporate purposes and shall be available to the Employer's general creditors. The amount reflected in said Deferred Compensation Account shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment by creditors of the Employee or his beneficiary, and any attempt to anticipate, alienate, transfer, assign or attach the same shall be void. Neither the Employee nor his beneficiary may assert any right or claim against any specific assets of the Employer. The Employee or his beneficiary shall have only a contractual right against the Employer for the amount reflected in said Deferred Compensation Account and shall have the status of general unsecured creditors. Notwithstanding the foregoing, in order to pay amounts which may become due under this Agreement, the Employer may establish a grantor trust (hereinafter the "Trust") within the meaning of Section 671 of the Internal Revenue Code of 1986, as amended. The assets in such Trust shall at all times be subject to the claims of the general creditors of the Employer in the event of the Employer's bankruptcy or insolvency, and neither the Employee nor any beneficiary shall have any preferred claim or right, or any beneficial ownership interest in, any such assets of the Trust prior to the time such assets are paid to the Employee or beneficiary pursuant to this Agreement. The Employer shall credit to said Deferred Compensation Account the amount of any salary to which the Employee becomes entitled and which is deferred pursuant to Section 1 hereof, such amount to be credited as of the first business day of each month. The Employer shall also credit to said Deferred Compensation Account an Interest Equivalent in the amount and manner set forth in Section 3 hereof.

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