Pension and Retirement. Employer and Employee Contributions 48 22.02 Pension Contributions 49
Pension and Retirement. 22.01 (a) The Employer will contribute on behalf of each employee 7.51% of annual earnings and the employee will contribute one percent (1%) of gross annual earnings to a Registered Retirement Savings Plan. In addition, each will make their contributions to the Canada Pension Plan. All contributions belong to the employees from the first (1st) day of employment.
Pension and Retirement. 23.01 (a) Employer and Employee Contributions
Pension and Retirement. 4.17.1 Mandatory membership and participation ▪ Employers are required to join bpfBOUW (the Dutch construction industry pension fund foundation). Employees are required to participate in the pension scheme that bpfBOUW administers for the construction & infrastructure sector. ▪ The bpfBOUW regulations state which rights and obligations the employer and the employee have in this regard and specifies the contributions as well.
4.17.2 Components of the pension scheme ▪ This bpfBOUW pension scheme comprises the following components: - average salary scheme; - incapacity pension.
Pension and Retirement. 28.1 The City shall continue funding the Defined Benefit and Defined Contribution Pension Plans. The City agrees that the current pension benefits shall not be reduced during the term of this Contract. Specific provisions for all pension benefits are found in the completed plan documents.
28.2 Bargaining Unit members, who continue to participate in the Defined Benefit (DB) Pension Plan, will continue to contribute an amount of their pensionable income as provided by the plan. The current contribution is four and eighty-eight hundredth percent (4.88%) of pensionable income and is subject to periodic actuarial review up or down based upon the terms of the plan’s amendments. During the term of this agreement, there will be no change in the contribution amount based upon an actuarial review of previous plan amendments.
28.3 Bargaining Unit members hired on or after October 1, 1998, shall be participants in the Defined Contribution (DC) Pension Plan. Defined Contribution Pension Plan participants may elect to contribute up to three percent (3%) of their pensionable income to the DC Pension Fund. All pension plan participant contributions will be deducted from each paycheck.
28.4 Earnings for pension purposes, regardless of plan participation, (DB or DC) means base pay, shift differential, longevity, sick leave, personal leave, holiday pay, compensatory time and working out of class pay. Earnings do not include lump sum payments for leave, or bonus payments, or as otherwise are excluded by the Plan. No more than two thousand eighty (2,080) hours of pay shall be credited in any plan year.
28.5 In the event changes to benefits contained in the City’s Defined Benefit (DB) Pension Plan are proposed by the plan’s Pension Advisory Committee, all eligible participants of the DB Pension Plan will be allowed to vote on whether or not they approve those benefit changes and costs. All voting would be conducted in accordance with procedures developed by the Pension Advisory Committee. Any changes recommended by the members voting are subject to final approval of the Orlando City Council sitting as the Pension Plan’s Pension Board.
28.6 Two members of the Union shall be appointed as representatives on the Pension Advisory Committee (PAC) of the General Employees' Pension Plan. A proportionate number of Union representatives shall also be appointed by the Union to any new advisory body that might be created. PAC members will be granted time-off with pay to attend regularly sc...
Pension and Retirement. The provisions of Article 32 of this Agreement affect all employees covered by this Appendix.
Pension and Retirement.
(a) All regular and probationary employees, who work a minimum of thirty (30) hours per week, shall be required to participate in the Local Authorities Pension Plan.
(b) Participation in the Plan will continue should the number of hours worked decrease below thirty (30) hours per week but not less than fourteen (14) hours per week.
32.2 Employees shall receive a pro-rata retirement allowance based upon the attainment of age 55, the employee's anniversary date and the following formula: After 10 years' of service 1 month's salary After 15 years' of service 2 months' salary After 20 years' of service 2½ months' salary After 25 years' of service 3 months' salary
32.3 For ten (10) month employees, ten (10) months of employment at thirty (30) or more hours per week shall be considered a year of pensionable service. Pensionable service shall be pro-rated for ten (10) month employees working less than thirty (30) hours per week.
Pension and Retirement.
Section 1. University will Continue to Offer LEOPS. The University will continue to offer the Law Enforcement Officers’ Pension System (LEOPS) Plan currently in effect to the bargaining unit officers, as it may be modified or amended by the State.
Pension and Retirement. 1. The Publisher and Guild have agreed on the establishment of a Star Tribune Retirement Plan G effective January 1, 1987. Plan G has received an IRS determination letter that it is a "qualified" plan under the Internal Revenue Code and that all contributions to Plan G are proper business deductions for the Publisher. Plan G must continue to be a qualified plan. The "Plan Administrator" of Plan G for legal purposes will be the Publisher. Employees represented by the Guild are participants in Plan G if they met applicable Plan G eligibility and participation requirements. Plan G was frozen effective December 31, 2009. No employee shall become a Qualified Employee and enter Plan G after December 31, 2009. No participant in Plan G shall accrue any additional benefit after December 31, 2009, meaning a participant’s accrued pension benefit shall not increase after December 31, 2009.
(a) The formula for Plan G is a Social Security excess formula:
(1% of Final Average Monthly Earnings up to $1,400 plus 1.5% of Final Average Monthly Earnings over $1,400) multiplied by the number of years of Credited Service under Plan G (maximum of 30). The $1,400 integration level is increased each year after 1989 by the ratio of the maximum Social Security wage base for such year to $48,000.
(b) Final Average Monthly Earnings for Plan G is 1/12 of the average of Certified Earnings for the best four consecutive years of active participation out of the last fifteen years.
(c) Regular Retirement Age for Plan G is as follows: Employees born before 1938 will have a Regular Retirement Age of 65 Employees born from 1938 through 1954 will have a Regular Retirement Age of 66 Employees born after 1954 will have a Regular Retirement Age of 67.
(d) Early Retirement Factors are as follows:
(e) Plan G participants are eligible for a disability pension after completion of 10 years of vesting service, if totally and permanently disabled.
(a) Guild employees shall be eligible to participate in the Star Tribune 401(k) Retirement Savings Plan (“401(k) Plan”) under the same terms and conditions as are applicable to non-union (“Independents”) who participate in the 401(k) Plan. The Publisher will place in the 401(k) Plan the amounts that participants elect to have deducted from their wages. The "Plan Administrator" for legal purposes will be the Publisher, but the day‑to‑day administration of the Plan will be the responsibility of a Joint Committee consisting of representatives of the Publisher and ...
Pension and Retirement. A. Effective February 11, 2013, the Company shall contribute to the Producer-Writers Guild of America Pension Plan (herein called the Pension Plan), which is more particularly described in the 2014-2017 WGA Theatrical and Television Basic Agreement, for each staff employee who has elected to participate in the Pension Plan, a sum equal to six and one-half percent (6.5%) of the gross compensation due each Staff Employee covered by this Agreement with the exception of (i) Staff Employees employed by the Company for less than three (3) months and (ii) vacation replacements. The Company’s contribution to the Pension Plan shall increase to seven percent (7%) effective February 24, 2014, and to seven and one-half percent (7.5%) effective February 9, 2015. Effective March 2, 2015, the Guild elected to divert one-half percent (.5%) of the third year wage increase to the Pension Plan thereby increasing the company’s contribution to eight percent (8%). Effective February 5, 2018, the Company’s contribution to the Pension Plan shall increase to eight and one-half percent (8.5%). Gross compensation for Pension contribution purposes shall not include gross compensation in excess of $175,000 per year.
B. The Pension Plan established shall remain qualified under the provisions of the Internal Revenue Code, Subtitle A Chapter 1, Subchapter D of 1954, as amended, so that the contributions made by the Company to the Pension Plan are deductible expenses. The Pension Plan shall remain qualified under the provisions of the Internal Revenue Code, Subtitle A, Chapter 1, Subchapter F of 1954, as amended, so that the Pension Plan is exempt from income taxation under Subtitle A.
C. The contributions required hereunder shall be made by the Company within thirty (30) days after the end of each calendar quarter.
D. The Company and the Union will furnish to the Trustees at their request any information which is necessary for the proper and efficient administration of the Pension Plan.
X. A regular staff employee who is at least twenty-one (21) years old and has one (1) year of continuous regular staff employment with the Company may elect to participate in the ABC Inc. Retirement Plan under the terms and conditions of such Plan. On the effective date of the employee's enrollment in the ABC Inc. Retirement Plan, the Company will cease to be obligated to make contributions to the WGA Pension Plan on behalf of such employee. An employee's election to participate in the ABC Retirement Plan...
