PENSION FUND PAYMENTS Clause Samples
PENSION FUND PAYMENTS. The Employers agree to contribute a sum of money, as established by the Union, for each hour worked whether at regular or overtime rates for all employees represented by the Indiana/Kentucky/Ohio Regional Council of Carpenters and its affiliated Local Unions. The aforesaid employer contributions shall be paid to the appropriate fund designated by the Union. Any increases shall be taken from the total negotiated package on the anniversary dates of the Agreement. The aforesaid Pension Funds are administered pursuant to Agreements and Declarations of Trust. These Agreements and Declarations of Trust, together with all amendments, are incorporated by reference in this Agreement and shall be considered a part of this Agreement. The Employer agrees that the Employer Trustee Representative presently serving as Employer Trustees shall act during their term of office as the Employer’s Representative in connection with the Trust Estate of the Pension Fund. The payment of the Employer’s contribution to the Fund shall be made monthly only to the Trusteeship on a date and in a manner and form that shall be prescribed by the Trustees of the Pension Fund. If the Pension Fund is held to be improper or illegal under any applicable state or federal law during the term of this Agreement, the Employer may cease payment to said Pension Fund, and at such time, further negotiations may take place between the parties with respect to the Pension Plan.
PENSION FUND PAYMENTS. Section 1. Effective July 1, 2009, the Employer shall pay monthly into the Central Pension Fund of the International Union of Operating Engineers and Participating Employers, five dollars ($5.00) per hour for each hour paid for or worked in the preceding month, by all employees covered by said Agreement. Said payments shall be made on the dates, in the manner and form, and in accordance with the rules and regulations as adopted by the trustees of said fund.
Section 2. Employer agrees to be bound by the Agreement and Declaration of Trust entered into as of September 7, 1960, establishing the Central Pension Fund of the International Union of Operating Engineers and Participating Employers and by any amendments to said Trust Agreement.
Section 3. Employer irrevocably designates as his representative among the trustees of said fund such trustees as are named in said Agreement and Declaration of Trust as employer trustees, together with their successors selected in the manner provided in said Agreement and Declaration of Trust as that document may be amended from time to time.
Section 4. Upon written notice to the Employer from the Union at least sixty (60) days prior to each anniversary date of the Agreement, the Employer agrees to increase its hourly contributions to the aforesaid Pension Fund in the amount specified by the Union. The hourly wage scale then scheduled to go into effect shall be lowered in an amount equal to the increase in the hourly contributions to the Pension Fund.
PENSION FUND PAYMENTS. Said Employer agrees to contribute, in addition to the hourly wage rate, to a Pension Fund known as the Indiana State Council of Plasterers' and cement Masons' Pension Fund. Contributions to the Pension Fund shall be as set forth under Article X – Wages. Said Fund shall be administered as provided for in Section 302 of the ▇▇▇▇-▇▇▇▇▇▇▇ Act, as amended. In the event the Pension Fund is discontinued, any hourly contributions heretofore directed to such Fund shall immediately be added directly to the employees' hourly wage rate.