Common use of SUPPLEMENTAL RETIREMENT AND SAVINGS Clause in Contracts

SUPPLEMENTAL RETIREMENT AND SAVINGS. (SRSP) FUND 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. Effective April 21, 2014, the rate of contributions to the SRSF shall be $10.00 per week per employee. For those Resident Managers and full-time Superintendents who have been employed as a Resident Manager or full-time Superintendent for at least two (2) years in that position in the building, the Employer shall contribute an additional $10.00 per week to the SRSF for time worked in that position. The Employer shall contribute an additional $10.00 per week to the SRSF for each employee upon the employee’s completion of 25 years of service, provided, however, that if as a result of the 2016 Commercial Building Agreement such employees receive additional pension benefits for years of service in excess of 25, the obligation under this provision shall cease on the effective date of the commencement of such additional benefits.

SUPPLEMENTAL RETIREMENT AND SAVINGS. (SRSP) FUND 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. Effective April 21, 20142010, the rate of contributions to the SRSF shall be $10.00 per week per employee. For those Resident Managers and full-time Superintendents who have been employed as a Resident Manager or full-time Superintendent for at least two (2) years in that position in the building, the Employer shall contribute an additional $10.00 per week to the SRSF for time worked in that position. The Employer shall contribute an additional $10.00 per week to the SRSF for each employee upon the employee’s completion of 25 years of service, provided, however, that if as a result of the 2016 2012 Commercial Building Agreement such employees receive additional pension benefits for years of service in excess of 25, the obligation under this provision shall cease on the effective date of the commencement of such additional benefits.