Second Contribution Holiday Sample Clauses

Second Contribution Holiday. Following an initial Contribution Holiday in 2023, should the Company’s aggregate year-to-date contributions for the health insurance coverage of all its Fund participants (excluding the Medicaid supplemental payments paid to the Fund) in 2023 again exceed the Company’s aggregate premium cost of providing health insurance coverage for the same period in 2022 plus the financial value of the initial Contribution Holiday, the Company shall not be obligated to contribute to the Fund on behalf of its employee participants for the following month. This period will be referred to as a second Contribution Holiday in 2023.
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Second Contribution Holiday. There shall be an additional 1 year contribution holiday during the calendar year 2014. If the trustees will be unable to maintain the qualifiers and levels of benefits (in effect at the time of ratification) during 2014 the second contribution holiday may be suspended in full or in part by the trustees upon demonstrating clear financial justification. The trustees shall not improve the qualifiers and levels of benefits in effect at the time of ratification unless improvements can confidently be made without jeopardizing the second premium holiday. APPENDIX "B"
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Related to Second Contribution Holiday

  • Retirement Contribution The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications. Corrections Firearms Instructor Oil & Hazardous Material Responder I Oil & Hazardous Material Responder II

  • Statutory Holiday Pay Employees who qualify for statutory holiday pay shall be paid an average day's pay on the Statutory Holidays above, based on the following: amount paid / days worked. “Amount paid” is the amount earned by the employee for work done during the thirty (30) calendars day period preceding the statutory holiday, including vacation pay but excluding overtime pay. “Days worked” is the number of days the employee worked or earned wages during that thirty (30) calendar day period.

  • Deductions from Sick Leave A deduction shall be made from accumulated sick leave of all normal working days (exclusive of holidays) absent for sick leave.

  • Payment of Contributions The College and eligible academic staff members of the plan shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.

  • Vacation Year The vacation year shall be April 1 to March 31, inclusive.

  • Defined Contribution Plan (1) The Employer will establish the following Employer contribution programs in the existing salary deferral plans: » Beginning in 2006 and continuing throughout the term of the Agreement, a performance-based contribution of 1% of each represented employee’s annual payroll earnings will be made

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