Pension Payments. Nothing in this Agreement shall change any pension benefits or benefits from other qualified plans maintained by Company to which Executive is otherwise entitled. However, payments made under this Agreement pursuant to Section 4 shall not be considered compensation for purposes of the Company's pension plan or any other qualified retirement plan maintained by the Company.
Pension Payments. From the compensation amounts paid to Employees, the Board shall deduct and pay to the Illinois Municipal Retirement Fund all contributions required by law.
Pension Payments. The employees of the Charter School may be deemed employees of the local school district for the purpose of providing retirement benefits, including membership in the teachers' retirement system and other retirement systems open to employees of public schools. The financial contributions for such benefits shall be the responsibility of the Charter School and its employees. Notwithstanding any contrary provision of the Charter, the parties shall comply with §119.2 of the Commissioner’s regulations and with any additional regulations promulgated by the Commissioner, in consultation with the New York State Comptroller, to implement the provisions of this paragraph.
Pension Payments. The parties hereby acknowledge and agree that the Charter School shall comply with those provisions of the Illinois Pension Code which specify applicability to, or compliance by, charter schools and it is not the intent of the parties to have the Charter School comply with any other portions of the Pension Code.
Pension Payments a. In the event contributions by the members of the Fire Department to the present pension system are increased beyond the six (6%) percent contribution during the term hereof, the City of Warwick agrees to pay the difference between said six (6%) percent and the increased percentage, provided the Pension Fund benefits have not been increased over those presently in force on the date of this Agreement. Upon the plan being qualified by Internal Revenue Service and due to benefit improve- ments granted on July 1, 1989, the employee contribution will be increased from the aforementioned 6% to 7%. The seven (7%) percent contribution rate will be the sole responsibility of the employee. Effective on July 1, 2005, the contribution shall be increased to eight (8%) percent, and shall be reduced to 7% on September 19, 2005.
b. The City agrees to amend the pension plan under City code, Article IV as of the date of this agreement as set forth in Section 7-76 (a) and (b) of the said article as it is written as of the date of this agreement and which is incorporated herein and made a part of hereof.
Pension Payments. Pension payments commence on the actual retirement date. Payments continue for the lifetime of the employee. Should an employee die during the five years following commencement of the pension, pension payments will continue to be paid to his/her designated beneficiary or the commuted value of said remaining payments to his/her estate for the balance of the five year period unless an optional form of pension had been selected.
Pension Payments. Calculation of Post-Service Benefits for persons eligible for payment under this Agreement shall be carried out in accordance with the Public Service Pensions Act, 1992, The Republic of Sudan, as amended 2004, and the National Civil Service Regulation, 2007, The Republic of Sudan, and any other relevant laws or regulations.
Pension Payments. For all services performed under this Agreement, the Producers contractor/leader shall contribute twelve percent (12%) over and above all minimum fees as outlined in this Agreement to the Musicians Pension Fund Canada. In instances where the producer pays performance fees and pension to the leader or contractor a letter from the producer authorizing the leader/contractor to remit pension on the producers behalf, must be provided by the producer to the leader/contractor along with the payment of all fees.
Pension Payments a. Payments into the Fire Department Pension Fund by employees of the department and the City shall be made in accordance with the relevant provisions of the Warwick Code or Ordinances, Chapter 20, Fire Protection and Fire Protection and Prevention.
b. In Tier I, each member who is an employee, the amount of the members' contributions shall be adjusted to one-third of the annual contribution rate for Tier I determined by the actuary in accordance with section 20-242(c). In Tier II, each member who is an employee, the amount of the members' contributions shall be adjusted to one-third of the annual contribution rate for Tier II determined by the actuary in accordance with section 20-242(c). The actuary shall evaluate Tier I and Tier II as a single fund for the purpose of determining the pension contributions for the city (the two-thirds share of the total), but shall determine separate employee contribution rates for members of Tier I and Tier II, reflecting one-third of the difference in the value of the benefit being provided under this plan for the two tiers.
Pension Payments. The Board shall make payments directly to the Public School Teachers’ Pension and Retirement Fund of Chicago (“Chicago Teachers Pension Fund”) for the employer's pension liability on behalf of any education, administrative or other staff member employed at the Charter School (whether by the Charter School itself or one of its subcontractors) who is certified under the law governing certification of teachers. The Board shall have the right to charge the Charter School for the proportionate share of the annual estimated employer's normal pension cost, and to deduct that amount from the quarterly payments due to the Charter School. After each fiscal year, the Charter School shall provide a calculation (as defined by the Board) of its share of the employer’s normal pension cost based on the total actual pensionable salaries for that year (“Final Employer’s Pension Cost”). The Board shall review that calculation and shall reserve the right to obtain any and all records and additional documentation that support the Charter School’s calculation. If the Charter School’s Final Employer’s Pension Cost exceeds or is less than the actual amount withheld by the Board, an adjustment (refund/withholding) shall be made by the Board in a future quarterly payment to the Charter School. The Board shall not have any duty to make the employee’s or other staff member’s contributions. Notwithstanding the foregoing, the Charter School acknowledges and agrees that the Board retains the right to collect delinquent employee contributions from the Charter School in accordance with Section 17-132 of the Illinois Pension Code (40 ILCS 5/17-132) and may deduct such delinquent contributions from any quarterly payments due the Charter School. Pursuant to Section 17-132(b) of the Illinois Pension Code, employee contributions are deemed delinquent if the Chicago Teachers Pension Fund does not receive the employee contributions by the 30th calendar day after each predesignated payday. If the Board elects to deduct delinquent employee contributions from quarterly payments due the Charter School, the Board shall provide the Charter School with fifteen (15) calendar days’ prior written notice setting forth in detail the grounds for such action and the amount delinquent. If the Charter School fails to cure such delinquency to the Board’s satisfaction within said 15-day cure period, the Board shall be deemed to have a sufficient basis to withhold such funds from any quarterly payments otherwise d...
