SUPPLEMENTAL RETIREMENT AND SAVINGS FUND Sample Clauses

SUPPLEMENTAL RETIREMENT AND SAVINGS FUND. 1. The Employer shall make contributions to a trust fund known as the “Building Service 32BJ Supplemental Retirement and Savings Fund” to cover bargaining unit employees who are regularly employed twenty (20) or more hours per week, including paid time off, with employer contributions as hereinafter provided and tax exempt employee wage deferrals as provided by the Plan and/or Plan rules. Employer contributions for other bargaining unit employees shall also be required for each week in which they work twenty (20) or more hours, including paid time off. 2. Effective January 1, 2020, the Employer shall contribute $13.00 per week per covered employee into the SRSF, payable when and how the Trustees determine.
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SUPPLEMENTAL RETIREMENT AND SAVINGS FUND. 1. The Employer shall make contributions to a trust fund known as the “Building Service 32BJ Supplemental Retirement and Savings Fund” to cover bargaining unit employees who are regularly employed twenty (20) or more hours per week, including paid time off, with employer contributions as hereinafter provided and tax exempt employee wage deferrals as provid ed by the Plan and/or Plan Rules. Employer contributions for other bargaining unit employees shall also be required for each we ek in which they work twenty (20) or more hours, including paid time off. 2. Effective January 1, 2016, the rate of contribution to the Supplemental Retirement and Savings Fund shall be $13.00 per week per covered employee, payable in the Fund when and how the Trustees determine.
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SUPPLEMENTAL RETIREMENT AND SAVINGS FUND. The Employer shall participate in the Building Service 32BJ Supplemental Retirement and Savings Fund (“SRSP”) in accordance with the terms and conditions of such Fund, as it may be amended, at no cost to the Employer. The Employer shall make contributions to the SRSP to cover employees covered by this Agreement with Employer contributions, as well as tax exempt employee initiated wage deferrals as provided by the plan and/or plan rules and payable how and when the Trustees determine. The Employer shall contribute to the SRSP on behalf of all Employees whatever portion of the Hourly Benefit Amount remains after funding the health (if any) benefits set forth in Paragraph 2(A) above. By way of example, for a Full-Time Employee receiving health benefits, the January 2023 calculation shall be as follows: Hourly Benefit Amount: $4.80 Remaining Amount $0.39 per hour To be contributed to SRSP In the event that an employee’s monthly health and welfare fringe is insufficient to cover monthly medical premiums, the employer may make deductions from SRSP payments in subsequent payroll periods until such time as the medical premium deficiency is repaid. Part-time employees shall have their entire Hourly Benefit Amount contributed to the SRSP.
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SUPPLEMENTAL RETIREMENT AND SAVINGS FUND. 1. The Employer shall make contributions to a trust fund known as the “Building Service 32BJ Supplemental Retirement and Savings Fund” to cover bargaining unit employees who are regularly employed twenty (20) or more hours per week, including paid time off, with employer contributions as hereinafter provided and tax exempt employee wage deferrals as provided by the Plan and/or Plan rules. Employer contributions for other bargaining unit employees shall also be required for each week in which they work twenty (20) or more hours, includ- ing paid time off. 2. Effective January 1, 2008, the Employer shall contribute $13.00 per week per covered employee into the SRSF, payable when and how the Trustees determine.
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SUPPLEMENTAL RETIREMENT AND SAVINGS FUND. The rate of contribution shall be as follows:
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SUPPLEMENTAL RETIREMENT AND SAVINGS FUND. The employer shall contribute $10.00 per week per employee to the Supplemental Retirement and Savings Fund (SRSP) for each regular employee employed in excess of 16 hours per week.
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SUPPLEMENTAL RETIREMENT AND SAVINGS FUND. The Employer shall participate in the Building Service 32BJ Supplemental Retirement and Savings Fund (“SRSP”) in accordance with the terms and conditions of such Fund, as it may be amended. The Employer shall make contributions to the SRSP to cover employees covered by this Agreement with Employer contributions, as well as tax exempt employee wage deferrals as provided by the plan and/or plan rules and payable how and when the Trustees determine. The Employer shall contribute to the SRSP on behalf of all Employees whatever portion of the Hourly Benefit Amount remains after funding the health (if any) and legal benefits set forth in Paragraph 2(A) and 2(B) above. By way of example, for a Full-Time Employee receiving health benefits, the 2023 calculation shall be as follows: Hourly Benefit Amount: $4.80 - Health Benefit Amount ($4.41) Part-time Employees shall have their entire Hourly Benefit Amount contributed to the SRSP after funding the Legal benefits set forth above.
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SUPPLEMENTAL RETIREMENT AND SAVINGS FUND. (“SRSF”) SECTION 18.1 The Employer shall make contributions to a profit sharing and wage deferral trust fund known as the “Building Service 32BJ Supplemental Retirement and Savings Fund” (“SRSF”) to cover employees with profit sharing benefits as hereinafter provided and tax exempt employee wage deferrals as provided by the Plan and/or Plan rules. SECTION 18.2 The Employer shall make a contribution of $.20 per hour worked to the SRSF, up to a maximum of forty (40) hours per week, for each current employee who is regularly employed twenty (20) or more hours per week. Effective December 1, 2023, the employer contribution shall increase to $.25; effective December 1, 2024, the employer contribution shall increase to $.30; effective December 1, 2025, the employer contribution shall increase to $.35 and effective December 1, 2026, the employer contribution shall increase to $.40. Contributions on behalf of new employees hired on or after October 16, 2011 shall begin after the employee completes six (6) months of employment. For the purpose of contributions hereunder, paid time off shall be treated as hours worked. The Employer shall make an additional contribution for all Licensed Engineers, Operating Engineers, Mechanics, and Maintenance Workers of $.05 per hour for a total contribution of $.25 per hour. Effective December 1, 2023, the Employer contribution shall increase to $.30; effective December 1, 2024, the Employer contribution shall increase to $.35; effective December 1, 2025, the Employer contribution shall increase to $.40; and effective December 1, 2026, the Employer contribution shall increase to $.45. SECTION 18.3 If the Employer fails to make required reports or payments to the SRSF, the Trustees may in their sole and absolute discretion take any action necessary, including, but not limited to, immediate arbitration and suits at law, to enforce such reports and payments, together with interest and liquidated damages as provided in the Fund’s trust agreement, and any and all expenses of collection, including, but not limited to, counsel fees, arbitration costs and fees, and court costs. SECTION 18.4 Any Employer regularly or consistently delinquent in SRSF payments may be required, at the option of the Trustees of the Fund, to provide the Trust Fund with security guaranteeing prompt remittance of such payments. SECTION 18.5 By agreeing to make the required payments into the SRSF, the Employer hereby adopts and shall be bound by the Agreement and D...
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SUPPLEMENTAL RETIREMENT AND SAVINGS FUND. “SRSF”) SECTION 18.1 The Employer shall make contributions to a profit sharing and wage deferral trust fund known as the “Building Service 32BJ Supplemental Retirement and Savings Fund” (“SRSF”) to cover employees with profit sharing benefits as hereinafter provided and tax exempt employee wage deferrals as provided by the Plan and/or Plan rules. SECTION 18.2 The Employer shall make a contribution of $.20 per hour worked to the SRSF, up to a maximum of forty (40) hours per week, for each current employee who is regularly employed twenty (20) or more hours per week. Contributions on behalf of new employees hired on or after October 16, 2011 shall begin after the employee completes six (6) SECTION 18.3 If the Employer fails to make required reports or payments to the SRSF, the Trustees may in their sole and absolute discretion take any action necessary, including, but not limited to, immediate arbitration and suits at law, to enforce such reports and payments, SECTION 18.4 Any Employer regularly or consistently delinquent in SRSF payments may be required, at the option of the Trustees of the Fund, to provide the Trust Fund with security guaranteeing prompt remittance of such payments. SECTION 18.5 By agreeing to make the required payments into the SRSF, the Employer hereby adopts and shall be bound by the Agreement and Declaration of Trust as it may be amended, and the rules and regulations adopted or hereafter adopted by the Trustees of the Fund in connection with the provision and administration of benefits and the collection of contributions. The Trustees of the Fund shall make such amendments to the Trust Agreement, and shall adopt such regulations as may be required to conform to applicable law. SECTION 18.6 There shall be no Employer contributions to the SRSF on behalf of employees during their first six (6) months of employment.
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Related to SUPPLEMENTAL RETIREMENT AND SAVINGS FUND

  • Supplemental Retirement Plan During the Contract Period, if the Executive was entitled to benefits under any supplemental retirement plan prior to the Change in Control, the Executive shall be entitled to continued benefits under such plan after the Change in Control and such plan may not be modified to reduce or eliminate such benefits during the Contract Period.

  • Supplemental Retirement Benefits The terms and conditions for the payment of supplemental retirement benefits are set forth in a separate written agreement between the parties.

  • Supplemental Retirement Benefit The Executive will be entitled to receive a monthly Supplemental Retirement Benefit (the "Supplemental Retirement Benefit") commencing on the first day of the month coincident with or following the later of the Executive's termination of employment or attainment of age 60 and continuing for the remainder of his life. Unless otherwise elected by the Executive, the Supplemental Retirement Benefit shall be payable in the form of a 50% joint and survivor annuity which shall be unreduced for the actuarial value of the survivor's benefit. If the Executive's spouse at the time of his death is not more than four years younger than the Executive, the survivor benefit shall be equal to 50% of the Executive's benefit and shall be payable to his spouse for the remainder of the spouse's life. If the Executive's spouse at the time of his death is more than four years younger than the Executive, the benefit payable to the spouse shall be reduced to a benefit having the same actuarial value as the benefit that would have been payable had the spouse been four years younger than the Executive. The Executive shall also have the right to elect a 100% joint and survivor annuity, on an actuarially-reduced basis or a lump-sum payment, on an actuarially-reduced basis (if the Executive makes a timely lump-sum election which avoids constructive receipt), or any other form of payment available or provided under the "Supplemental Plans" defined in this Section 8. Actuarial reductions shall be based on the actual ages of the Executive and his spouse at the time of retirement. If the Executive is not married at the time of his retirement, actuarial adjustments shall be made as if the Executive had a spouse with the same date of birth as the Executive. In the event that the Executive elects a form of payment other than the automatic 50% joint and survivor annuity or other than a lump sum payment, and remarries subsequent to retirement, the benefits payable under this Section shall be actuarially adjusted at the time of the Executive's death to reflect the age of the subsequent spouse. If the Executive elects a lump sum payment at retirement, no further benefits will be payable under this Section.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.

  • Multiple Individual Retirement Accounts In the event the depositor maintains more than one Individual Retirement Account (as defined in Section 408(a)) and elects to satisfy his or her minimum distribution requirements described in Article IV above by making a distribution from another individual retirement account in accordance with Item 6 thereof, the depositor shall be deemed to have elected to calculate the amount of his or her minimum distribution under this custodial account in the same manner as under the Individual Retirement Account from which the distribution is made.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • Retirement Plan The 2.7% at 55 retirement plan will be available to eligible bargaining unit members covered by this Section 6.1.

  • Deferred Retirement a. An employee who is eligible for paid retirement at the time he or she separates from County service, but elects deferred retirement, may defer participation in the Grant until such time as he or she becomes an active retiree. b. An otherwise eligible employee who is not eligible for paid retirement at the time he or she separates from County service but is eligible for and elects deferred retirement shall not become eligible for participation in the Grant.

  • 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.

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