Common use of SUPPLEMENTAL INSURANCE FUND Clause in Contracts

SUPPLEMENTAL INSURANCE FUND. Effective January 1, 1990, the City shall contribute .5% of the unit base payroll annually to the supplemental insurance fund. Such fund shall be administered by the Grand Rapids General Retirement System Pension Board of Trustees, in accordance with the provisions of an Ordinance of the City of Grand Rapids. The provisions of the referenced Ordinance shall be developed by the parties in conjunction with the 13th Pension Check Committee, as provided above on behalf of Grand Rapids Employees Independent Union bargaining unit members only. Effective July 1, 2014, the City shall increase its contribution to the supplemental insurance fund to .7% of the unit base payroll annually.

SUPPLEMENTAL INSURANCE FUND. Effective January 1, 1990, the City shall contribute .5% of the unit base payroll annually to the supplemental insurance fund. Such fund shall be administered by the Grand Rapids General Retirement System Pension Board of Trustees, in accordance with the provisions of an Ordinance of the City of Grand Rapids. The provisions of the referenced Ordinance shall be developed by the parties in conjunction with the 13th Pension Check Committee, as provided above on behalf of Grand Rapids Employees Independent Union bargaining unit members only. Effective July 1, 2014, 2014 the City shall increase its contribution to the supplemental insurance fund to .7% of the unit base payroll annually.