Common use of Trust Contributions Clause in Contracts

Trust Contributions. 1. Effective January 1, 2023 and for the remainder of the term of this Agreement, the City’s contribution per employee will be equal to the monthly contribution contributed by the City per employee in the suppression bargaining unit represented by IAFF Local 452. 2. All Trust Contributions must be made to the Trust by the 10th day of the month. Trust Contributions will be made for each employee that is on the payroll as of the first of that month. Upon request of the Trust, the City agrees to facilitate an electronic or wire transfer of these funds to the Trust to expedite their delivery to the Trust. 3. If the City is delinquent in submitting contributions to the Trust, the City shall pay the Trust interest at a rate of 12% (twelve percent) per annum. 4. In the event the Trust determines that employee contributions to health care coverage are required, the City will make deductions from payroll upon request. Where required, written authorization from employees to allow for a pre-tax deduction pursuant to a cafeteria plan under Code Section 125 will be provided to the City prior to the time deductions are made. The parties will determine a procedure that facilitates this process, allows for pre-tax deductions where appropriate, and minimizes the administrative burden on the City. 5. The Trust will be responsible for all COBRA coverage (pursuant to federal requirements.) 6. The Trust will provide to the employee and the taxing authorities appropriate tax reporting forms for any employees receiving benefits that are considered taxable. The City shall fund the "employer" portion of any required payroll taxes (e.g. employer share of Medicare) associated with taxable medical, dental, and vision benefits, including those that may be payable with respect to a domestic partner coverage. In no event, will the City be responsible for any required payroll taxes beyond what the City was responsible for before the Trust was established. The Trust shall separately bill the City for any such payroll taxes that may be due.

Trust Contributions. Retroactive to January 1, 2020, the City contribution per employee per month will be $2,165.59. 1. Effective Beginning January 1, 2021Effective January 1, 2023 and for the remainder of the term of this Agreement, the City’s contribution per employee per month will be $2,273.87.will be equal to the monthly contribution contributed by the City per employee in the suppression bargaining unit represented by IAFF Local 452. Beginning January 1, 2022, the City’s contribution per employee per month will be $2,387.57. 2. All Trust Contributions must be made to the Trust by the 10th day of the month. Trust Contributions will be made for each employee that is on the payroll as of the first of that month. Upon request of the Trust, the City agrees to facilitate an electronic or wire transfer of these funds to the Trust to expedite their delivery to the Trust. 3. If the City is delinquent in submitting contributions to the Trust, the City shall pay the Trust interest at a rate of 12% (twelve percent) per annum. 4. In the event the Trust determines that employee contributions to health care coverage are required, the City will make deductions from payroll upon request. Where required, written authorization from employees to allow for a pre-tax deduction pursuant to a cafeteria plan under Code Section 125 will be provided to the City prior to the time deductions are made. The parties will determine a procedure that facilitates this process, allows for pre-tax deductions where appropriate, and minimizes the administrative burden on the City. 5. The Trust will be responsible for all COBRA coverage (pursuant to federal requirements.) 6. The Trust will provide to the employee and the taxing authorities appropriate tax reporting forms for any employees receiving benefits that are considered taxable. The City shall fund the "employer" portion of any required payroll taxes (e.g. employer share of Medicare) associated with taxable medical, dental, and vision benefits, including those that may be payable with respect to a domestic partner coverage. In no event, will the City be responsible for any required payroll taxes beyond what the City was responsible for before the Trust was established. The Trust shall separately bill the City for any such payroll taxes that may be due.