Common use of UFCW Union Pension Plan Clause in Contracts

UFCW Union Pension Plan. I. The Employer will participate in the United Food and Commercial Workers Union Pension Plan (hereinafter referred to as the Plan and/or Trust, as applicable) on the following terms and conditions: i) Effective December 28, 1997 participation in the Plan and Trust will be through a separate Division (the Safeway Division) as provided for under the Plan and Trust as follows: a) All contributions payable to the Plan and Trust pursuant to this Collective Agreement subsequent to the date set forth above shall be credited to the Safeway Division, except as provided below: b) Subsequent to the transfer to the Plan and Trust of the assets and liabilities of the Retail Meat Industry Plan and Trust as contemplated by this Agreement the Union and Employer will request the Trustees of the Plan to allocate to the Safeway Division the liabilities for accrued benefits in respect of active and disabled employees subject to the Collective Agreement, and retired and terminated vested employees who were subject to the Collective Agreement at their retirement or termination, along with a pro-rata share of the assets of the Local 247 Division of the Trust in which they will have accrued benefits. Such allocation to be carried out as of January 1, 1998 on terms and conditions to be established by the Trustees on the advice of the Plan actuary. c) It is understood that the foregoing allocation and transfer of assets and liabilities to the Safeway Division shall only be carried out as of January 1, 1998 after the transfer to the Plan and Trust of the Retail Meat Industry Plan and Trust if the Plan actuary can confirm, based on the actuarial valuation to be carried out as of that date that after the transfer to the Safeway Division the financial condition of the remainder of the Local 247 Division is such that it will be able to maintain, based on the actuarial assumptions and methods employed for the valuation, a level of accrued benefits and future service benefit accruals at least equal to those in effect at January 1, 1998 for at least five years. For this purpose, future service benefit accruals currently in effect at January 1, 1998 shall be reduced pro-rata to reflect the rates of the Employer's current contribution rate to the standard rate of one dollar and forty-nine cents ($1.49) per hour. If this condition is satisfied then, subject to any legal requirements, the transfer of assets and liabilities to the new Division shall be carried out as soon as possible after January 1, 1998 and will be made effective as of that date. If the condition described above cannot be satisfied, then the transfer of assets and liabilities to the Safeway Division shall be delayed and carried out as of the date when the Plan actuary confirms the conditions can be satisfied. If the transfer of assets and liabilities is delayed then it is agreed that the Trustees of the Plan and Trust shall have the power to direct a portion of the future contributions payable under this Collective Agreement to the Local 247 Division as recommended by the Plan actuary to complete the funding of any unfunded liabilities, if any, under the Local 247 Division. The amount determined by the Plan actuary for this purpose shall be calculated on a basis which results in an equivalent level of contribution towards the unfunded liability by all employers participating in the Local 247 Division. ii) Under the terms of the Plan and Trust, provision is to be made for a Retirement Committee with equal representation from the Employer and any Unions in such Division, with responsibility for the separate Division of the Plan and Trust described above. The Employer and the Union will appoint appropriate persons and their replacements to act as members of the Retirement Committee and as Trustees for the Divisions in which they participate. iii) Commencing with the later of December 28, 1997 or the first day of employment of each participating Employee and for the duration of the Collective Agreement between the Union and the Employer, and any renewals or extensions thereof, or until otherwise changed through collective bargaining or mutual agreement by the Union and the Employer, it is agreed that the following contributions shall be made to the Plan and Trust: a) By each participating Employee - a percentage of their Earnings received from the Employer. The percentage applicable to each participating Employee shall be as follows, subject to government regulations: Contributions by participating Employees shall be made by payroll deduction. Changes in contribution by participating Employees shall be effective from the first day of the pay period following the date in which they become 30, 40 and 50 respectively. 1. employees who are disabled on December 28, 1997 and are receiving (or entitled to receive) wage loss benefits under a Weekly Indemnity or Long Term Disability Plan to which the Employer makes contributions, as long as they continue to be disabled and entitled to such benefits; 2. employees who are disabled on December 28, 1997 and are receiving (or entitled to receive) wage loss benefits from WCB as long as they continue to be disabled and entitled to such benefits; 3. employees who are absent from work at December 28, 1997 as a result of a statutory maternity or parental leave as long as they continue to qualify for such leave. The Employer will provide to the Trustees a listing of all employees subject to the Collective Agreement who are subject to each of the foregoing three paragraphs. b) By the Employer - the percentage set forth below of the Earnings of each participating Employee. The percentage applicable shall be as follows: The Employer and the Union understand and agree that it is the responsibility of the Pension Plan Actuary and the Pension Plan Trustee to administer the Pension Plan and make any changes to the features of the Pension Plan that they consider appropriate in the particular circumstances. The Employer and the Union also agree that, once the Pension Plan is fully funded, the Employer’s contributions will be reduced by 0.25% increments annually until the level becomes eight percent (8.00%). c) Employee and Employer contributions, along with a list of the participating Employees for whom they have been made, shall be forwarded by the Employer to the Trust Company or other financial institution designated by the Trustees of the Plan to receive these and shall do so not later than twenty-one (21) days after the close of each of the Employer's four (4) or five (5) week accounting periods. These listings shall be prepared in alphabetical order and shall show for each participating Employee: 1. their Earnings; 2. the Employee contribution deducted from the Earnings; 3. the Employer contribution made in respect of the participating Employee; 4. the date they became an Employee if they first became a participating Employee in the Employer's four (4) or (5) week accounting period; 5. the date they ceased to be an Employee and the reason for cessation if they are no longer a participating Employee at the end of the Employer's four (4) or five (5) week accounting period. 6. such other data as the Trustees indicate they require for the administration and operation of the Plan.

UFCW Union Pension Plan. ‌ I. The Employer will participate in the United Food and Commercial Workers Union Pension Plan (hereinafter referred to as the Plan and/or Trust, as applicable) on the following terms and conditions: i) Effective December 28, 1997 participation in the Plan and Trust will be through a separate Division (the Safeway Division) as provided for under the Plan and Trust as follows: a) All contributions payable to the Plan and Trust pursuant to this Collective Agreement subsequent to the date set forth above shall be credited to the Safeway Division, except as provided below: b) Subsequent to the transfer to the Plan and Trust of the assets and liabilities of the Retail Meat Industry Plan and Trust as contemplated by this Agreement the Union and Employer will request the Trustees of the Plan to allocate to the Safeway Division the liabilities for accrued benefits in respect of active and disabled employees subject to the Collective Agreement, and retired and terminated vested employees who were subject to the Collective Agreement at their retirement or termination, along with a pro-rata share of the assets of the Local 247 Division of the Trust in which they will have accrued benefits. Such allocation to be carried out as of January 1, 1998 on terms and conditions to be established by the Trustees on the advice of the Plan actuary. c) It is understood that the foregoing allocation and transfer of assets and liabilities to the Safeway Division shall only be carried out as of January 1, 1998 after the transfer to the Plan and Trust of the Retail Meat Industry Plan and Trust if the Plan actuary can confirm, based on the actuarial valuation to be carried out as of that date that after the transfer to the Safeway Division the financial condition of the remainder of the Local 247 Division is such that it will be able to maintain, based on the actuarial assumptions and methods employed for the valuation, a level of accrued benefits and future service benefit accruals at least equal to those in effect at January 1, 1998 for at least five (5) years. For this purpose, future service benefit accruals currently in effect at January 1, 1998 shall be reduced pro-rata to reflect the rates of the Employer's current contribution rate to the standard rate of one dollar and forty-nine cents ($1.49) per hour. If this condition is satisfied then, subject to any legal requirements, the transfer of assets and liabilities to the new Division shall be carried out as soon as possible after January 1, 1998 and will be made effective as of that date. If the condition described above cannot be satisfied, then the transfer of assets and liabilities to the Safeway Division shall be delayed and carried out as of the date when the Plan actuary confirms the conditions can be satisfied. If the transfer of assets and liabilities is delayed then it is agreed that the Trustees of the Plan and Trust shall have the power to direct a portion of the future contributions payable under this Collective Agreement to the Local 247 Division as recommended by the Plan actuary to complete the funding of any unfunded liabilities, if any, under the Local 247 Division. The amount determined by the Plan actuary for this purpose shall be calculated on a basis which results in an equivalent level of contribution towards the unfunded liability by all employers participating in the Local 247 Division. ii) Under the terms of the Plan and Trust, provision is to be made for a Retirement Committee with equal representation from the Employer and any Unions in such Division, with responsibility for the separate Division of the Plan and Trust described above. The Employer and the Union will appoint appropriate persons and their replacements to act as members of the Retirement Committee and as Trustees for the Divisions in which they participate. iii) Commencing with the later of December 28, 1997 or the first day of employment of each participating Employee and for the duration of the Collective Agreement between the Union and the Employer, and any renewals or extensions thereof, or until otherwise changed through collective bargaining or mutual agreement by the Union and the Employer, it is agreed that the following contributions shall be made to the Plan and Trust: a) By each participating Employee - a percentage of their Earnings received from the Employer. The percentage applicable to each participating Employee shall be as follows, subject to government regulations: • Less than 30 NIL • 30 or more but less than 40 1% • 40 or more but less than 50 2% • 50 or more 4% Contributions by participating Employees shall be made by payroll deduction. Changes in contribution by participating Employees shall be effective from the first day of the pay period following the date in which they become 30, 40 and 50 respectively. 1. employees who are disabled on December 28, 1997 and are receiving (or entitled to receive) wage loss benefits under a Weekly Indemnity or Long Term Disability Plan to which the Employer makes contributions, as long as they continue to be disabled and entitled to such benefits; 2. employees who are disabled on December 28, 1997 and are receiving (or entitled to receive) wage loss benefits from WCB as long as they continue to be disabled and entitled to such benefits; 3. employees who are absent from work at December 28, 1997 as a result of a statutory maternity or parental leave as long as they continue to qualify for such leave. The Employer will provide to the Trustees a listing of all employees subject to the Collective Agreement who are subject to each of the foregoing three paragraphs. b) By the Employer - the percentage set forth below of the Earnings of each participating Employee. The percentage applicable shall be as follows: • Last Sunday of 2013 8.75% • Last Sunday of 2016 9.00% • Last Sunday of 2017 9.25% • Last Sunday of 2018 9.50% The Employer and the Union understand and agree that it is the responsibility of the Pension Plan Actuary and the Pension Plan Trustee to administer the Pension Plan and make any changes to the features of the Pension Plan that they consider appropriate in the particular circumstances. The Employer and the Union also agree that, once the Pension Plan is fully funded, the Employer’s contributions will be reduced by 0.25% increments annually until the level becomes eight percent (8.00%). c) Employee and Employer contributions, along with a list of the participating Employees for whom they have been made, shall be forwarded by the Employer to the Trust Company or other financial institution designated by the Trustees of the Plan to receive these and shall do so not later than twenty-one (21) days after the close of each of the Employer's four (4) or five (5) week accounting periods. These listings shall be prepared in alphabetical order and shall show for each participating Employee: 1. their Earnings; 2. the Employee contribution deducted from the Earnings; 3. the Employer contribution made in respect of the participating Employee; 4. the date they became an Employee if they first became a participating Employee in the Employer's four (4) or (5) week accounting period; 5. the date they ceased to be an Employee and the reason for cessation if they are no longer a participating Employee at the end of the Employer's four (4) or five (5) week accounting period. 6. such other data as the Trustees indicate they require for the administration and operation of the Plan.