Common use of PENSION FUND PAYMENTS Clause in Contracts

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. 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 Kentucky 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.