Common use of Trust Funds Pension Plan Clause in Contracts

Trust Funds Pension Plan. The Contractor, on behalf of each employee, and each employee covered by the Appendix, shall contribute the amounts set out below to the Specialized Workers' Pension Trust Fund. Contributions shall apply to all hours worked and shall be collected at the source as a payroll deduction. The Contractor's contribution shall be: Effective May 1, 2016 $2.39 per hour Effective May 1, 2017 $2.49 per hour Effective May 1, 2018 $2.64 per hour Effective May 1, 2019 $2.74 per hour The Employee's contribution shall be: Effective May 1, 2013 $0.60 per hour Health & Welfare The Contractor, on behalf of each employee, and each employee covered by the Appendix, shall contribute the amounts set out below to the Specialized Workers' Health and Welfare Trust Fund. Contributions shall apply to all hours worked and shall be collected at the source as a payroll deduction. The Contractor's contribution shall be: Effective May 1, 2016 $0.50 per hour Effective May 1, 2017 $0.55 per hour Effective May 1, 2018 $0.55 per hour Effective May 1, 2019 $0.60 per hour The Employee's contribution shall be: Effective May 1, 2013 $0.70 per hour Submission of Trust Funds The Contractor shall forward the above Trust Fund contributions to the designated Administrators of each plan on or before the fifteenth day (15th) of each month following the month in which contributions were made. A form shall be supplied by the Union for the Contractor to identify the application of all contributions, and such form shall indicate the Administrator and the address to which contributions shall be forwarded.