RETIREMENT AND PENSION. The parties agree to implement pension changes as outlined below. The changes in numbers 24.03 (a) 1 to 5 below shall apply to all active members as at April 1, 1998 and all new members who have joined after that date. Any revisions to the plan text which are necessary to achieve the intent of the above changes will be submitted by the Employer to the Union in draft form, for approval by the Union, prior to being finalized. The costs incurred by the Union for actuarial services with regard to the current round of collective bargaining shall be paid by the Employer from the fund as an expense of plan administration. Further, it is agreed Article 24 will be amended as follows:
RETIREMENT AND PENSION. Jewel Retirement Estates— Regular Full-time Em ployees 26 ARTICLE XI NO STRIKE; NO LOCKOUT. 26 ARTICLE XII GRIEVANCES AND ARBITRATION Section 12.1 Grievances 27 Section 12.2 Arbitration 27-28 ARTICLE XIII TERM Section 13.1 Initial Term 28 Section 13.2 Renewal Term 29 APPENDIX A WAGES Section A.l Wage Rates 30-31 Section A.2 Cost-of-Living Allowance 32-33 EXHIBIT A 34 This Agreement made and entered into by and between the Jewel Food Stores Division of Jewel Companies, Inc., hereinafter referred to as the “ Employer” and Chicago Truck Drivers, Helpers and Warehouse Workers Union (Independent), hereinafter referred to as the “ Union” this 28th day of June, 1979.
RETIREMENT AND PENSION. As further compensation for the services of the Executive:
(a) The Executive shall be allowed to participate fully in any disability, death benefit, retirement, or pension plans maintained by the Companies, pursuant to the terms of such plans. Nothing in this Agreement shall be construed as a waiver of any of the terms of or conditions precedent to participation in such plans; and
(b) Upon termination of the Executive’s employment due to (w) retirement (defined as the earliest retirement date applicable to the Executive under the Retirement Plan of Trustco Bank), (x) Disability (as defined herein), (y) death or (z) Termination (as defined in Section 8 hereof) of the Executive for any reason other than Good Cause (as defined in Section 8) within two years after a Change in Control (as defined in Section 7(b) hereof), then the Companies shall continue the medical benefits (which reimburse expenses allowable as a deduction under Internal Revenue Code Section 213, without regard to any adjusted gross income limitation), in effect at the time of the Executive’s termination, for the Executive and his covered dependents during the period of time during which the Executive would be entitled to continuation coverage under a group health plan of the Companies under Internal Revenue Code Section 4980B if the Executive elected such coverage and paid the applicable premium. For purposes of this Agreement, the term “Disability” means a mental or physical condition which (i) in the opinion of a physician mutually agreed upon by the boards of directors of the Companies and the Executive, will prevent the Executive from carrying out the material job responsibilities or duties to which the Executive was assigned at the time disability was incurred, and (ii) is expected to last for an indefinite duration or a duration of more than six months. Upon termination of the Executive’s employment due to (w) retirement (defined as the earliest retirement date applicable to the Executive under the Retirement Plan of Trustco Bank), (x) Disability (as defined herein), (y) death or (z) Termination (as defined in Section 8 hereof) of the Executive for any reason other than Good Cause (as defined in Section 8) within two years after a Change in Control (as defined in Section 7(b) hereof), then the Companies shall monthly, for the longer of the life of the Executive or the life of the Executive’s spouse, reimburse the Executive and/or the Executive’s spouse for otherwise unreimbursed medica...
RETIREMENT AND PENSION. The officers shall retain all prior rights under applicable law or regulations presently in effect and as may be amended and supplemented to their benefit in the future. Further, the Borough shall continue to make such contributions as previously provided with respect to the pension and retirement benefits to officers covered by this Agreement and under the applicable laws and statutes of the State of New Jersey.
RETIREMENT AND PENSION. The amended retirement and pension plan of the company DAC-1-66, together with all amendments thereto, is hereby ratified, affirmed and approved. It shall be amended as follows: Beginning September 1, 2008, or as soon thereafter as practicable, the 2% of covered pay (the plan covers pay up to $75,000.00 per year) employee contributions requirement would be eliminated for all future years. Employee contributions already made for pay periods prior to September 1, 2008 would remain in the plan, and continue being credited with interest as before. All current rights and features of the plan and the current participants accrued and projected benefits at 65 would remain as is. The current benefit formula for retirement pension at 65 would remain unchanged. However, the current plan stipulation that the benefit formula would apply only to pay periods for which eligible employees made required contributions would not apply for the purposes of determining additional benefit accruals after September 1, 2008. All eligible employees currently not participating in the plan due to their election not to make the required contributions would be enrolled in the plan effective September 1, 2008. The Company will provide Agents with a voluntary 401(k) plan to be funded by the Agents via payroll deduction.
RETIREMENT AND PENSION. The Employer shall provide coverage, to all employees covered by this Agreement, under a Company-sponsored 401(k) Plan (the “401(k) Plan”), in accordance with the terms of the 401(k) Plan, as applicable to the Union.
(a) The 401(k) Plan shall be administered by the Company, or its designee, which shall have the right to modify the terms of the Plan, except as described in Article 10.1(b) below, or to change service providers from time to time to comply with the law or to make administration of the 401(k) Plan more cost-effective, in accordance with its responsibilities as the 401(k) Plan’s administrator. The Company also reserves the right to change investment options offered under the 401(k) Plan, the 401(k) Plan’s record keeper, and/or the 401(k) Plan’s investment manager.
(b) The Employer shall contribute eight dollars ($8.00) per hour worked or paid for on behalf of each employee covered by this Agreement. The Employer contributions shall be contributed irrespective of whether the employee contributes additional money to the plan. For the duration of this agreement, tThe employer agrees to provide and administer its normal retirement program subject to the terms and conditions stated therein as the same may be amended from time to time for each regular full-time employee in the collective bargaining unit.
RETIREMENT AND PENSION. Section 10.1 Retirement and Pension. 29 ARTICLE XI NO STRIKES; NO LOCKOUTS. 30
RETIREMENT AND PENSION. The Employer shall provide coverage, to all employees covered by this Agreement, under a Company-sponsored 401(k) Plan (the “401(k) Plan”), in accordance with the terms of the 401(k) Plan, as applicable to the Union.
(a) The 401(k) Plan shall be administered by the Company, or its designee, which shall have the right to modify the terms of the Plan, except as described in Article 10.1(b) below, or to change service providers from time to time to comply with the law or to make administration of the 401(k) Plan more cost-effective, in accordance with its responsibilities as the 401(k) Plan’s administrator. The Company also reserves the right to change investment options offered under the 401(k) Plan, the 401(k) Plan’s record keeper, and/or the 401(k) Plan’s investment manager.
(b) The Employer shall contribute eight dollars ($8.00) per hour worked or paid for on behalf of each employee covered by this Agreement. The Employer contributions shall be contributed irrespective of whether the employee contributes additional money to the plan. Formatted: Font: (Default) Courier New, 10 pt Formatted: Font: (Default) Courier New, 10 pt Formatted: Font: (Default) Courier New, 10 pt For the duration of this agreement, theThe Eemployer agrees to provide and administer its normal retirement program subject to the terms and conditions stated therein as the same may be amended from time to time for each regular full-time employee in the collective bargaining unit.
RETIREMENT AND PENSION. Section 10.1 Retirement and Pension. 32
RETIREMENT AND PENSION. 28.01 Until December 31st 2006, employees attaining the age of sixty-five (65) must retire from work. After that date, employees may choose to continue to work but no contributions to pension or benefits as set out in Article 22 shall be made on their behalf by the employer.
