PENSION AND RETIREMENT FUND. Section 1. Effective August 1, 2008 the Employer agrees to contribute the sum of seven dollars and ninety-nine and one half cents ($7.995) per hour paid to any and all of its employees by this Agreement, but not to exceed three hundred nineteen dollars and eighty cents ($319.80) per week. Such payment is to be made to the New York State Teamsters Pension and Retirement Fund on or before the tenth (10th) of the month following the month in which the moneys were accrued, except where agreed to by the Fund Trustees but not to exceed by later than the end of the following month. The Supplemental Negotiating Committee reserves the right to allo- cate the forty dollars ($40.00) weekly increase in contributions in the Pension Funds and/or Health and Hospital Fund on August 1, 2009 an additional forty dollars ($40.00) weekly increase on August 1, 2010, an additional forty dollars ($40.00) weekly increase on August 1, 2011 and an additional forty dollars ($40.00) weekly increase on August 1, 2012. Disputes or questions over interpretation concerning the require- ments to make contributions for employees shall be submitted to the New York State Joint Grievance Committee for decision. Such deci- sion shall be subject to the Pension and Retirement Fund Board of Trustees for final approval. The Supplemental Negotiating Committees shall allocate the $40.00 per week ($1.00 per hour) increase on August 1, 2009, the $40.00 per week ($1.00 per hour) increase on August 1, 2010, the $40.00 per week ($1.00 per hour) increase on August 1, 2011, and the $40.00 per week ($1.00 per hour) increase on August 1, 2012, between the Pension and Health and Welfare funds within the area of the Joint National Master Freight Negotiating Committee. The Committees shall, in those Supplemental Agreements which include one (1) Pension Fund and multiple Health & Welfare Funds, first allocate that portion, if any, of the above indicated benefit increase to the Pension Fund subject to the approvalof the Joint National Master Freight Negotiating Committee. The remaining amount, if any, shall be applied uniformly to each of the Health & Welfare Funds.
Section 2. Failure on the part of the Employer to regularly contribute as specified herein above shall make him liable for all claims, damages, attorneys fees, court costs, etc. plus all arrears in payments, plus a ten percent (10%) penalty. In the event the Union suspends the operations of a defaulting Employer, the Union shall not be bound by any ar...
PENSION AND RETIREMENT FUND. Effective August 1, 2023 the Employer agrees to contribute the sum of fourteen dollars and thirty-seven and one fifth cents ($14.379) per hour paid to any and all of its employees by this Agreement, but not to exceed five hundred seventy-five dollars and seventeen cents ($575.17) per week. Such payment is to be made to the New York State Teamsters Pension and Retirement Fund on or before the tenth (10th) of the month following the month in which the moneys were accrued, except where agreed to by the Fund Trustees but not to exceed by later than the end of the following month. As determined by the Union Supplemental Negotiating Committee, to maintain the Health and Welfare and Pension benefits, the Em- ployer shall increase its contribution to all Teamsters Health and Welfare and Pension Plans, as follows: Effective 2023 (on the date previously established by the parties for payment of increases for the applicable funds but no later than Au- gust 1 of each year) the company shall also contribute an additional $0.83 per hour to be split between the applicable health and welfare and pension funds as determined by the Union Supplemental nego- tiating committee. For 2024 the increase shall be $0.63 per hour; for 2025 the increase shall be $0.80 per hour; for 2026 the increase shall be $0.99 per hour and for 2027 the increase shall be $1.21per hour. The Union Supplemental Negotiating Committee will determine the allocation of the negotiated contribution amounts to the appro- priate Health and Welfare and/or Pension Funds. Disputes or questions over interpretation concerning the require- ments to make contributions for employees shall be submitted to the New York State Joint Grievance Committee for decision. Such decision shall be subject to the Pension and Retirement Fund Board of Trustees for final approval.
Section 2. Failure on the part of the Employer to regularly contribute as speci- fied herein above shall make him liable for all claims, damages, at- torneys fees, court costs, etc. plus all arrears in payments, plus a ten percent (10%) penalty. In the event the Union suspends the opera- tions of a defaulting Employer, the Union shall not be bound by any arbitration or no strike clause in this Agreement. The Employer and Union hereby agree simultaneously herewith to execute a stipula- tion submitted by the Pension Trustees setting forth the provisions relating to both of the above-mentioned Pension funds as negotiated for the Supplement Freight Agreement an...
PENSION AND RETIREMENT FUND. Section 1. Effective August 1, 2019 the Employer agrees to contribute the sum of two dollars and point seven zero nine cents ($2.7029) per hour paid to any and all of its employees by this Agreement, but not to exceed one hundred eight dollars and twelve cents ($108.12) per week. Such payment is to be made to the New York State Teamsters Pension and Retirement Fund on or before the tenth (10th) of the month following the month in which the moneys were accrued, ex- cept where agreed to by the Fund Trustees but not to exceed by later than the end of the following month. Effective August 1, 2020 the Employer agrees to contribute the sum of two dollars and point seven nine seven five cents ($2.7975) per hour paid to any and all of its employees by this Agreement, but not to ex- ceed one hundred eleven dollars and ninety cents ($111.90) per week. Effective August 1, 2021 the Employer agrees to contribute the sum of two dollars and point eight nine five four cents ($2.8954) per hour paid to any and all of its employees by this Agreement, but not to exceed one hundred fifteen dollars and ninety-two cents ($115.92) per week. Effective August 1, 2022 the Employer agrees to contribute the sum of two dollars and point nine eight two three cents ($2.9823) per hour paid to any and all of its employees by this Agreement, but not to exceed one hundred nineteen dollars and twenty-nine cents ($119.29) per week. Effective August 1, 2023 the Employer agrees to contribute the sum of three dollars and point zero seven one seven cents ($3.0717) per hour paid to any and all of its employees by this Agreement, but not to exceed one hundred twenty-two dollars and eighty-seven cents ($122.87) per week. Disputes or questions over interpretation concerning the require- ments to make contributions for employees shall be submitted to the New York State Joint Grievance Committee for decision. Such deci- sion shall be subject to the Pension and Retirement Fund Board of Trustees for final approval.
Section 2. Failure on the part of the Employer to regularly contribute as speci- fied herein above shall make him liable for all claims, damages, at- torneys fees, court costs, etc., plus all arrears in payments, plus a ten percent (10%) penalty. In the event the Union suspends the opera- tions of a defaulting Employer, the Union shall not be bound by any arbitration or no strike clause in this Agreement. The Employer and Union hereby agree simultaneously herewith to execute a stipula- tion sub...
PENSION AND RETIREMENT FUND. The Company will make monthly contributions as set forth below for each employee covered by this Agreement to the Trustees of the Local 8 Retirement Fund for the purpose of enabling said Trustees to provide pension benefits that the Trustees shall determine in accordance with the Fund’s policies and procedures and the Agreement and Declaration of Trust establishing said Fund. Period Monthly Contribution October 1, 2023 through September 30, 2024 $480.00 October 1, 2024 through September 30, 2025 $485.00 October 1, 2025 through September 30, 2026 $490.00 October 1, 2026 through September 30, 2027 $495.00 October 1, 2027 through September 30, 2028 $495.00
