Pension Plans and Benefit Funds Sample Clauses

Pension Plans and Benefit Funds. The operation of any and all of the GCIU Pension Plans and Benefit Funds in existence as of the effective date of the merger shall be permitted to exist after merger and they shall remain separate and independent as long as the GCIU/IBT Conference desires. Moreover, all existing trustees serving on such plans or funds shall continue in their trustee positions and assignments, unaffected by the merger, whether or not their respective Local Unions affiliate with the IBT directly or through the GCIU/IBT Conference. Future trustee vacancies shall be filled according to the provisions of the respective individual trust agreements and plan documents, except, notwithstanding that the post-merger IBT is the successor International Union to the GCIU, the pre-merger powers and authority assigned to the GCIU President under any such trust agreement or plan document shall be effectively transferred to the GCIU/IBT Conference President at the time of merger, whether such transfer is accomplished by appropriate trustee amendment to the respective trust agreements and plan documents or by delegation of all such authority to the IBT General President to the GCIU/IBT Conference President. Moreover, no Union trustee vacancy shall be filled by any discretionary appointee who is not a member of a former GCIU Local Union. Participation by members of the predecessor International Union (GCIU) in the various trust funds and benefit plans referenced in the foregoing paragraph shall be permitted to continue, unaffected by the merger, whether their respective Local Unions affiliate with the IBT directly or through the GCIU/IBT Conference. Moreover, nothing in this Merger Agreement shall prevent the trustees of such trust funds and benefit plans from allowing, in their sole discretion subject to their fiduciary duties, participation by IBT members who were never members of a former GCIU or GCIU/IBT Local Union.
Sample 1
AutoNDA by SimpleDocs

Related to Pension Plans and Benefit Funds

  • BENEFIT FUND The Trustees are authorized and directed to establish a study committee to review the legality, feasibility and desirability of setting up and maintaining an employee funded Section 125 Flexible Spending Account (FSA). If an FSA is determined to be legal, feasible and desirable in this context, the Trustees are further authorized and directed to establish such an arrangement and offer it to employees covered by this Agreement; provided that the FSA shall not be offered to employees of any Employer who is unwilling or unable to permit employee participation in the FSA.

  • Defined Benefit Pension Plan 1. The Employer and the Union hereby agree to the continuation of the existing Northern California Glaziers, Architectural Metal and Glass Workers Pension Trust Agreement ("Defined Benefit Pension Trust").

  • Pension Plans Any of the following events shall occur with respect to any Pension Plan:

  • Pension Benefits Each party reserves the right to retain as his or her sole and absolute separate property, the entire interest in pension benefits now vested, or that become vested in the future, and the right to manage, control, transfer, and convey all such property and dispose of the same by will, beneficiary designation or otherwise, without any interference from the other. The parties acknowledge that this Agreement shall constitute an effective waiver of any rights in the other's pension benefit plans. Furthermore, each party agrees to execute whatever additional waiver document may be necessary or useful to confirm such waiver of rights to the other party's pension benefit plans.

  • PENSION AND BENEFITS 26:01 Employees are eligible to participate in the Pension Plan; Long Term Disability Plan; Group Life and Survivor Income Plan; Dental Care Plan; Extended Health Care Plan; Semi-Private Hospital Accommodation Plan; Joint Membership Plan; and Vision Care Plan, as summarized in Schedules “B” to “I” attached hereto.

  • 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.

  • Retirement Plans In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, JHSS shall provide the following administrative services:

  • Health Benefit Plan Par. 1. The Health Benefit Plan covering life insurance, sickness and accident benefits, and hospitalization insurance, or any changes thereto that are in accordance with the National Elevator Industry Health Benefit Plan and Declaration of Trust, shall be a part of this Agreement and adopted by all parties signatory thereto.

  • Pension Plan 15.01 The CLAC Pension Plan (“the Plan”), a defined contribution pension plan, is registered with the Canada Revenue Agency. The Plan applies to all employees covered by this Agreement.

  • Pension All present employees enrolled in the Hospital's pension plan shall maintain their enrolment in the plan subject to its terms and conditions. New employees and employees not yet eligible for membership in the plan shall, as a condition of employment, enroll in the plan when eligible in accordance with its terms and conditions.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!