Retiree Medical Trust Fund Sample Clauses

Retiree Medical Trust Fund. In order for the Union to create a Retiree Medical Trust Fund, the City will provide an increase in base salaries by one percent (1%) on December 30, 2000 and by another increase in base salary by one percent (1%) on January 5, 2002. Both increases are already included in Article II, Section I WAGES, as set forth herein. The City will not make any contributions to this fund. The City will only take a deduction from an employee to the extent that it has an appropriate signed authorization from that employee. In so doing, the Union warrants that there are no legal barriers to the validity of the trust fund or to payroll deductions by the employees which are used to fund such a trust, and that by allowing the payroll deductions, the City would assume no obligation or liability to the Trust Fund, employees, its beneficiaries, or to the Union. To the extent that any liabilities to the City do arise, the Union agrees to fully indemnify the City for any and all amounts, costs, and expenses associated with said liabilities or alleged liabilities including, without limitation, any of the City’s related reasonable attorney fees.
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Retiree Medical Trust Fund. Effective the first pay period in July 2009, all employees represented by the Association hired after June 30, 1990 who are not eligible for retiree benefits as described above will receive a monthly payment into a mutually agreed upon Retiree Medical Trust Fund. Effective the beginning of the pay period following July 1, 2019, the City’s monthly contribution amount will be $375per employee. The Association agrees that the City’s contribution will not be increased for five (5) years, except where necessary to match Police Officer’s Association (“POA”) contribution increases. The parties acknowledge that it is their intent to maintain the same contribution levels for both the Association and the POA. (July 2019) The Retiree Medical Trust Fund will be established, selected and maintained by the association and must meet IRS guidelines. Prior MOUs have created different contribution levels for the Association and the POA. In order to resolve this inequity, the City will make a one-time payment to the Retiree Medical Trust Fund for the Association in the amount of $50,390.50. Any future adjustments needed to resolve any inequities in the Retiree Medical Trust Fund due to negotiated contribution amounts by another bargaining group will be the responsibility of the Association members. (July 2019)
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Retiree Medical Trust Fund. All members of the Association hired after June 30, 1990 will receive a monthly payment into a Retiree Medical Trust Fund. Effective the beginning of the pay period following July 1, 2019, the City’s monthly contribution amount will be $375. Furthermore, any and all changes to the Retiree Medical Trust Fund contribution amount shall be agreed upon between the City, FPOA and the Fontana Police Management Association. The Retiree Medical Trust will be selected, established and maintained by the Association and must meet IRS guidelines. The Medical Trust Fund shall not be administered by the City, and the Association and its members shall release the City from liability and agree to indemnify the City from any claims resulting from the administration of the Medical Trust Fund.
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Retiree Medical Trust Fund. Effective the first full pay period following adoption of the July 1, 2018 through June 30, 2020 MOU, the City will contribute an additional $50.00 ($75.00 total) per pay period/per employee towards the Southern California Firefighters’ Benefit Trust.
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Retiree Medical Trust Fund. As mutually agreed to, with the establishment of the Southern California Firefighters Benefit Trust (hereafter, the “Trust”) through the Oceanside Firefighters Association, Article 6, section
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Retiree Medical Trust Fund. Common Article
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Retiree Medical Trust Fund. See attached sideletter for updated language for this section
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Retiree Medical Trust Fund. Effective the first pay period in July 2009, all employees represented by the Association hired after June 30, 1990 who are not eligible for retiree benefits as described above will receive a monthly payment into a mutually agreed upon Retiree Medical Trust Fund. Effective July 30, 2022, the City’s monthly contribution amount will be $425 per employee. The Association agrees that the City’s contribution will not be increased for five
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Related to Retiree Medical Trust Fund

  • The Unemployment Trust Fund 8.3.1 The State shall use the following method to calculate State interest liabilities on funds withdrawn from the several accounts in the Unemployment Trust Fund: The State shall use the following methodology to calculate State interest liabilities on funds withdrawn from the several accounts in the UTF under the Unemployment Insurance program. Based on statements provided by its financial institution, or other appropriate source, the State shall determine the actual interest earnings and the related banking costs attributable to funds withdrawn from its account in the UTF. At the end of the State's fiscal year, the State shall calculate the percentage of its total unemployment compensation expenditures for (1) funds withdrawn from the State account in the UTF, or the State %, and (2) funds withdrawn from the Federal Employees Compensation Account (FECA) and the Extended Unemployment Compensation Account (EUCA) and any other accounts of Federal funds in the UTF, or the Federal %. The State shall calculate the actual interest earnings and the related banking costs attributable to funds withdrawn from the State account in the UTF by multiplying the State % by the amount of the actual interest earnings and the related banking costs of the account as a whole. The State's liability for interest on funds withdrawn from its account in the UTF shall consist of the actual interest earnings attributable to such funds less the related banking costs attributed to such funds. The State shall determine the average daily cash balance of its unemployment compensation benefit payment account for its fiscal year. The State shall calculate the average daily cash balance of Federal funds by multiplying the Federal % by the average daily cash balance of the benefit payment account on the whole. The State's liability for interest on funds withdrawn from the FECA and EUCA (and any other benefit accounts of Federal funds in the UTF from which the State draws funds) shall be the average daily cash balance of Federal funds multiplied by the annualized rate equal to the average equivalent yields of 13-week Treasury bills auctioned during the State's fiscal year.

  • The Trust Fund Xxxxxx Mae, acting in its capacity as Trustee for the Lower Tier REMIC, does hereby transfer, assign, set over and otherwise convey to Xxxxxx Xxx, acting in its capacity as Trustee for the Trust Fund established hereby, all of Xxxxxx Mae’s right, title and interest in and to the Lower Tier Regular Classes, including all payments of principal and interest thereon received after the month of the Issue Date.

  • Trust Fund The Buyer is a trust fund whose trustee is a bank or trust company and whose participants are exclusively (a) plans established and maintained by a State, its political subdivisions, or any agency or instrumentality of the State or its political subdivisions, for the benefit of its employees, or (b) employee benefit plans within the meaning of Title I of the Employee Retirement Income Security Act of 1974, but is not a trust fund that includes as participants individual retirement accounts or H.R. 10

  • Retirement Plans (a) 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 (“Qualified 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, Transfer Agent shall provide the following administrative services: (i) Establish a record of types and reasons for distributions (i.e., attainment of eligible withdrawal age, disability, death, return of excess contributions, etc.); (ii) Record method of distribution requested and/or made; (iii) Receive and process designation of beneficiary forms requests; (iv) Examine and process requests for direct transfers between custodians/trustees, transfer and pay over to the successor assets in the account and records pertaining thereto as requested; (v) Prepare any annual reports or returns required to be prepared and/or filed by a custodian of a Retirement Plan, including, but not limited to, an annual fair market value report, Forms 1099R and 5498; and file same with the IRS and provide same to Participant/Beneficiary, as applicable; and (vi) Perform applicable federal withholding and send Participants/Beneficiaries an annual TEFRA notice regarding required federal tax withholding. (b) Transfer Agent shall arrange for PFPC Trust Company to serve as custodian for the Retirement Plans sponsored by a Fund. (c) With respect to the Retirement Plans, Transfer Agent shall provide each Fund with the associated Retirement Plan documents for use by the Fund and Transfer Agent shall be responsible for the maintenance of such documents in compliance with all applicable provisions of the Code and the regulations promulgated thereunder.

  • Traditional Individual Retirement Custodial Account The following constitutes an agreement establishing an Individual Retirement Account (under Section 408(a) of the Internal Revenue Code) between the depositor and the Custodian.

  • Rabbi Trust The Company shall maintain a trust intended to be a grantor trust within the meaning of subpart E, Part I, subchapter J, chapter 1, subtitle A of the Code (the “Rabbi Trust”). Coincident with the occurrence of a Change in Control, the Company shall promptly deliver to a bank as trustee of the Rabbi Trust (the “Trustee”), an amount of cash or certificates of deposit, treasury bills or irrevocable letters of credit adequate to fully fund the payment obligations of the Company under this Section 3.4. The Company and Trustee shall enter into a trust agreement that shall provide that barring the insolvency of the Company, amounts payable to the Executive under this Section 3.4 (subject to Section 3.6) shall be paid by the Trustee to the Executive ten (10) days after written demand therefore by the Executive to the Trustee, with a copy to the Company, certifying that such amounts are due and payable under this Section 3.4 because the Executive’s employment has been terminated pursuant to Paragraph (e) or (g) in Section 3.1 hereof at a time which is within two (2) years following the occurrence of a Change in Control (a “Triggering Event”). Such trust agreement shall also provide that if the Company shall, prior to payment by the Trustee, object in writing to the Trustee, with a copy to the Executive, as to the payment of any amounts demanded by the Executive under this Section 3.4, certifying that such amounts are not due and payable to the Executive because a Triggering Event has not occurred, such dispute shall be resolved by binding arbitration as set forth in Section 5.8 hereof.

  • Anti-Trust The MA Dual SNP hereby certifies to HHSC that neither the MA Dual SNP, nor the person represented by the MA Dual SNP, nor any person acting for the represented person, has been found by a judgment of a court of law to have violated the anti-trust laws codified by Chapter 15, Texas Business and Commerce Code, or the federal anti-trust laws.

  • Grantor Trust The Trust is intended to be a grantor trust, of which the Sponsor is the grantor, within the meaning of subpart E, part I, subchapter J, chapter 1, subtitle A of the Internal Revenue Code of 1986, as amended, and shall be construed accordingly.

  • Trust Funds The Owner hereby gives power to the Agent to deposit all receipts collected for the Owner, less any sums properly deducted or disbursed, in a financial institution whose deposits are insured by an agency of the United States government. The funds shall be held in a trust account separate from the Agent’s personal accounts. The Agent shall not be liable in the event of a bankruptcy or failure of a financial institution. All funds managed under this section must be done so in accordance with applicable law.

  • The Owner Trustee’s Compensation Compensation for all services rendered by Wilmington Trust under this Agreement (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) shall be paid to Wilmington Trust pursuant to Section 4.4(a) of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable (in either case to the extent of Available Funds available therefor), in accordance with the terms of an applicable fee letter. Wilmington Trust shall, upon its request and in accordance with an applicable fee letter, be reimbursed pursuant to Section 4.4(a) of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable (in either case to the extent of Available Funds available therefor), for all reasonable expenses, disbursements and advances incurred or made by Wilmington Trust in accordance with any provision of this Agreement (including the reasonable compensation, expenses and disbursements of such agents, experts and counsel as Wilmington Trust may employ in connection with the exercise, enforcement and performance of its rights and its duties hereunder or amendments or modifications hereto, including but not limited to expenses related to Sections 4.3 and 5.3 hereof), except any such expense that may be attributable to its willful misconduct, gross negligence (other than an error in judgment) or bad faith. To the extent not paid in full from Available Funds pursuant to Section 4.4 of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable (whether by application of the limitation set forth in Section 4.4(a) of the Sale and Servicing Agreement or otherwise), on or before the Payment Date following the end of the Collection Period that includes the 30th day after the request therefor, such fees and reasonable expenses shall be paid by the Servicer pursuant to Section 3.11 of the Sale and Servicing Agreement (without regard to such limitation). The provisions of this Section 8.1 shall survive the termination of this Agreement and the resignation or removal of the Owner Trustee.

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