SAVINGS FUND. 17.01 The Employer agrees to maintain a savings fund for employees.
17.02 Individual employees may authorize the Employer to deduct, after taxes, a set amount of money per pay to be deposited into a trust account on behalf of the employee from whom it was deducted. This authorization shall be in effect until November 30th each year. The amount deducted will be paid out in full to each employee who authorized a deduction, on or before December 10th each year. Any interest accrued will be used to defray the cost of administering the savings fund.
17.03 The Employer shall maintain the appropriate banking or trust documents to give effect to the savings fund and shall be solely liable for all deductions and payments made under this Article.
SAVINGS FUND. The Employer shall contribute (add to base wage, tax and deduct) per hour for each hour worked or paid to Employees covered by this Agreement, and pay said amount to an account maintained in the Employee's name at a Financial Institution authorized by the Union. Neither the Employer nor the Union shall have any control over the individual accounts established in each Employee's name. Any monies deposited in these accounts shall be under the exclusive control and discretion of the Employee in whose name the account is established and may be withdrawn at any time subject only to such rules and regulations as the Financial Institution has adopted or may adopt pursuant to its charter. The Employer's sole responsibility under this Section shall be to pay the amounts described herein. Authorized Laborer Political Action League contributions will be deducted from this fund.
SAVINGS FUND. The Investment Fund described in Section 4.5.1.
SAVINGS FUND. The employer shall continue to deduct $1.70 per hour for each employee, which sum shall be deducted from wages after calculations of withholdings of Federal and State income taxes and Social Security taxes. The amounts deducted shall be paid into the Savings Fund account for each individual employee and sent to the administrator: Xxxxxxx Xxxxxxxx, 0 Xxxxxxx Xxxxx, Xxxxxxxxxxx, XX 00000 Tel. (000) 000-0000 before the 25th of the month following that month for which payment is made. Each employee shall be required to fill out a deduction authorization form which must be on file for the employer for which he is working. Should it be the desire of the membership to increase the amount per hour in savings fund during the term of this contract, a sixty (60) day notice will be given to the employers. Each employee shall be required to fill out a deduction authorization form which must be on file with the employer for which he is working.
SAVINGS FUND. It is agreed that Savings Fund moneys are to be deducted out of the wage rate set forth in the Wage Addenda for journeyperson employees participating in the Springfield Chapter Bricklayers, Stone Masons, Tile and Marble Setters, Cleaners, Pointers and Caulkers, Terrazzo and Mosaic Workers Union Savings Fund; and the Jacksonville Chapter Savings Fund. The moneys involved shall be deducted from the Employee's check, as per the personal authorization of said employee, after Federal and State Income Tax and FICA taxes have been deducted from the gross pay. Each journeyperson employee shall receive a receipt, or the amount shown as a deduction on the withholding statement as a deduction for the Savings Fund. The Vacation Deduction does not apply to any apprentice or apprentice/improvers working in the Springfield and Jacksonville Chapters.
SAVINGS FUND. A Savings Fund which shall be invested and reinvested in interest-bearing and/or similar securities, which may include bonds, short and medium term notes, or other obligations, certificates of deposit, commercial paper, or part interests therein, obligations issued or guaranteed as to interest and principal by the United States Government or any instrumentality or agency thereof, a guaranteed investment contract or contracts between the Trustee and an insurance company or companies containing such terms and conditions with respect to payment of principal and interest as shall be agreed upon by the parties to such contract or contracts, and/or any common, collective or commingled trust fund which is invested virtually exclusively in property of the kind specified in this Section 4.5.
1. In the discretion of the Investment Committee, the Savings Fund shall be subdivided into such two or more sub-funds as the Investment Committee shall specify, each to be separately invested in property of the kind described in this Section 4.5.1 having such characteristics as the Investment Committee shall specify. Except as the Investment Committee shall otherwise direct each such sub-fund shall not constitute a separate Investment Fund for purposes of this Plan.
SAVINGS FUND. The respective agencies of the Government of the United States shall be responsible for the safekeeping of the sums contributed by the Mexican workers toward the formation of their Rural Savings Fund, until such sums are transferred to the Xxxxx Fargo Bank and Union Trust Company of San Francisco for the account of the Bank of Mexico, S.A., which will transfer such amounts to the Mexican Agricultural Credit Bank. This last shall assume responsibility for the deposit, for the safekeeping and for the application, or in the absence of these, for the return of such amounts.
SAVINGS FUND. It is hereby agreed that as part of this Agreement, the Employer agrees to pay to the Operating Engineers Local 825 Savings Fund, a sum equal to two dollars ($2.00) per hour, for straight time paid, for each Employee covered under this Agreement. On overtime worked at the time and one-half rate, the Employer will contribute three dollars ($3.00) per hour for each hour paid, and on overtime worked at the double time rate, the Employer will contribute four dollars ($4.00) per hour for each hour paid for each Employee covered by this Agreement. When Employees work under the Shift Differential of ten percent (10%), the Employer will contribute two dollars and twenty cents ($2.20) per hour for each hour paid, and when Employees' work under the Shift Differential of fifteen percent (15%), the Employer will contribute two dollars and thirty cents ($2.30) per hour for each hour paid for each Employee covered under this Agreement. The Savings Fund shall be jointly administered by an equal number of Employer and Union Trustees in accordance with an Agreement and Declaration of Trust drawn and executed by various Contractor Associations and the Union, which said Agreement and Declaration of Trust and rules and regulations known as the Savings Plan adopted by the Local 825 Fringe Benefit Plan Trustees in accordance with an Agreement and Declaration of Trust drawn and executed by various Contractor Associations and the Union, which said Agreement and Declaration of Trust and rules and regulations known as the Savings Plan adopted by the Local 825 Fringe Benefit Fund Trustees thereunder will be made a part hereof and will be binding upon the Employers. The Savings Fund shall be jointly administered by an equal number of Employer and Union Trustees in accordance with an Agreement and Declaration of Trust drawn and executed by various Contractor Associations and the Union, which said Agreement and Declaration of Trust and rules and regulations known as the Savings Plan adopted by the Local 825 Fringe Benefit Plan Trustees in accordance with an Agreement and Declaration of Trust drawn and executed by various Contractor Associations and the Union, which said Agreement and Declaration of Trust and rules and regulations known as the Savings Plan adopted by the Local 825 Fringe Benefit Fund Trustees thereunder will be made a part hereof and will be binding upon the Employers. Appropriate payroll taxes on the Savings Fund Contributions are deductible at the source. The Savings'...
SAVINGS FUND. The collection of assets of the Plan described in Section 9 (Savings Fund).
SAVINGS FUND. This Section applies to Laborers’ Local Xxxxx Xx. 000, Xxxxxx, Xxx Xxxx, only. The Employer agrees to withhold the amount specified in Article XXI, Section 4, Schedules A, B, and C* per hour for each hour worked by employees in the geographical jurisdiction of Laborers' Union Local No. 190 into the Laborers' Savings Fund. Such amounts withheld are included in the Laborers' Fringe Benefit Voucher. The Laborers' Savings Fund will be established and maintained in accordance with applicable Law as a jointly-administered Trust Fund under the Labor- Management Relations Act of 1947 as amended, Section 302, as it may be amended. The Savings Fund shall be administered pursuant to an Agreement and Declaration of Trust administered jointly by an equal number of representatives of the Employers and the Union, which Agreement and Declaration of Trust shall conform to all requirements of Law. A copy of the said Agreement and Declaration of Trust, together with any amendments thereto, shall be considered as a part of this Agreement as though set forth here at length.
