Pension Contributions. While on leave pursuant to Section B. of this Article, an employee may make contributions to the appropriate State pension system and will receive service credit for the time the employee is on unpaid leave.
Pension Contributions. 22.01 Each Employer shall make contributions to the Pension Fund as described in Schedule “B” of this Agreement at the rate contained in the Appendices per hour for each hour worked by employees of the Employer covered by this Agreement.
22.02 Such contributions shall be paid to the Trustees of the Pension Fund on or before the fifteenth (15th) day of the month following the month such hours were worked and shall be accompanied by a remittance report form for each employee on a form prescribed by the Trustees of the Fund.
22.03 Each monthly report and contribution shall include all obligations arising from hours worked up to the close of the Employer's payroll end- ing nearest to the last day of the preceding calendar month.
22.04 It is agreed that, by joint agreement of the Council and the Association, interest at the rate of one and one-half percent (1½%) per month may be charged on failure of an Employer to make payments due to the Pension Fund.
22.05 In the jurisdiction of Locals 247, 625, 1059 and 1089, the Employer agrees to deduct an amount per hour worked on a weekly basis, from each employee's weekly gross wages, payable to a Group or Registered Retirement Savings Plan, as directed in writing by the appli- Master Portion - Utility Agreement cable Local Unions for its members. Such monies shall be remitted directly to the Local Union.
Pension Contributions. 19.2.3.1 Unless required by law to commence receiving a pension prior to the Member’s actual retirement date (i.e., currently December 31 of the year in which the Member attains age seventy-one (71) as defined by Canada Revenue Agency) the Member who postponed retirement beyond his or her TRD will continue to make pension contributions.
19.2.3.2 The University recognizes the value of retirement counseling for all Members considering retirement and agrees to work with the Association to establish a retirement counseling program. (Note that Human Resources currently has available a pre-retirement package and Sun Life offers advice to Members as part of their services to the University).
Pension Contributions. Multi-Platform Release up-front payments shall be considered to be scale wages and the Employer shall make pension contributions on them to the American Federation of Musicians and Employers’ Pension Fund as provided by Article XXII.
Pension Contributions. 19.2.3.1 Unless required by law to commence receiving a pension prior to the Member’s actual retirement date (i.e., currently December 31 of the year in which the Member attains age sixty-nine (69)) the Member who postponed retirement beyond his or her TRD will continue to make pension contributions.
19.2.3.2 The University recognizes the value of retirement counseling for all Members considering retirement and agrees to work with the Association to establish a retirement counseling program. (Note that Human Resources currently has available a pre-retirement package and Sun Life offers advice to Members as part of their services to the University.)
Pension Contributions. In accordance with applicable state law, all eligible employees shall be covered by the Illinois Municipal Retirement Fund (IMRF) and the County shall make appropriate FICA (Social Security) and IMRF pension contributions to this fund.
Pension Contributions. The Board shall advise all newly-hired employees, including Teachers Teaching On Call, that they will be required as a condition of employment to contribute to the Teachers' Pension Plan (or Municipal Superannuation Plan if an employee is not eligible for enrollment in the Teachers' Pension Plan) for all time worked as defined in the Pension Plan.
Pension Contributions. Contributions to the Public Sector Pension Plan shall commence on the first of the month following a member's date of hire.
Pension Contributions. When the Plan is terminated following final judicial approval of such termination ("Plan Termination Date"):
a. The Company shall, each payroll period, make a contribution (the "Replacement Plan Base Contribution") to a defined contribution plan equal to four percent (4.0%) of each eligible participant's "Considered Earnings" (as defined in Exhibit C). In addition, the Company shall make an Additional Contribution for all eligible participants employed on May 15, 2005, based on a points schedule attached as Exhibit I. The Additional Contribution has been determined such that the total of the Base Contribution plus the Additional Contribution for all eligible participants will be of the total Considered Earnings for all eligible participants. In the future, the Additional Contribution for any eligible participant will not change. At the end of each calendar year, the Company will calculate total Company contributions as a percentage of the total Considered Earnings for all eligible participants. If the total is less than 5.0%, the Company will make an additional one-time base contribution so that the total Company contribution for the calendar year equals 5.0% of total Considered Earnings. The Company will calculate the total projected Company contribution divided by the total projected Considered Earnings at the beginning of each year. If this percentage is less than 5.0%, the Company will increase the base contribution rate so that the total Company contribution rate equals 5.0%. The Base and Additional Contributions will begin with the earlier of (i) July 1, 2005, or (ii) the first day of the calendar month following the Exit Date; provided, however, that in the event the Exit Date follows July 1, 2005, contributions will accrue without interest from July 1, 2005 through the Exit Date and be contributed in a single lump sum no later than sixty (60) days after the Exit Date.
b. All employees employed on May 15, 2005 will be 100% vested in the Replacement Plan Contributions. Any Replacement Plan Contributions made on behalf of an employee hired after May 15, 2005 will be subject to the following vesting schedule: Fewer than one year of service 0% 1 year of service but fewer than 2 20% 2 years of service but fewer than 3 40% 3 years of service but fewer than 4 60% 4 years of service but fewer than 5 80% 5 or more years of service 100% All service with the Company will be counted for purposes of vesting. Forfeitures under the defined contribution plan will b...
Pension Contributions. Per-minute rate payments shall be considered to be scale wages and the Employer shall make pension contributions on them to the American Federation of Musicians and Employers’ Pension Fund as provided in Article XXII.
