Union Pension Plan means the defined benefit plan known as the Pension Plan Bargaining Unit Employees of Wabush Mines, Cliffs Mining Company, Managing Agent (Canada Revenue Agency registration number 0555201);
Union Pension Plan and “Freeze Date” are defined in Appendix L.) The parties discussed the possibility of a situation where an employee transfers from one Company plant to another, where employees at the second plant have participated in a retirement plan that is different from the retirement plan for the plant from which the employee has transferred, and where the employee is barred by the above-quoted language from participating in the retirement plan at the second plant. The parties agreed that in such a situation, if the employee had the right under Appendix L to earn eligibility service after the Freeze Date, that employee would continue to earn such eligibility service after his transfer as provided in Appendix L, and that such eligibility service would be attributed to the retirement plan that covered the transferred employee before his transfer. Sincerely, Cxxxx Xxxxxx Letter No. 9 July 5, 2007 To: Jxx Xxxxxxxx Re: Distribution of the monetary difference of SPT “Rule of 85” Company contributions The Company and the Union agreed to the distribution of the balance of monies between an estimated dollar figure that was based on the Unions’ best guess as to what would be needed to fund the “Rule of 85” benefits under the Steelworker Pension Trust (the “SPT”) during bargaining and what was actually needed to fund that benefit. The Company has been notified subsequent to our bargaining, that the actual contribution needed by the SPT to provide these benefits will not exceed one million seven hundred thousand dollars ($1,700,000). In accordance with our understanding noted above, the difference between what is needed to fund the “Rule of 85” benefit and the negotiated balance will be distributed as follows: Upon ratification and approval of this total Settlement Agreement by the Bankruptcy Court, the Company will distribute to the following locations, in addition to any monies negotiated as a result of separate bargains, a one thousand dollar ($1000) lump sum ratification bonus payable from these proceeds. Those covered locations are as follows: Longview Texas, Rochester Hills Michigan, Ft. Wxxxx Indiana, Marion Indiana, Henderson Kentucky. Lima Ohio, Pottstown, Pennsylvania and Auburn Hills Michigan. This lump sum will be payable to all employees in these locations as of the ratification date. Additionally, the Company will increase the cash component of both the UAW and USW VEBA funds by $500,000 each in accordance with the provisions of separate VEBA accounts found in eac...
Examples of Union Pension Plan in a sentence
The UFCW Union Pension Plan (the “Plan”) is a jointly trusteed pension plan.
All full-time employees shall, and all other employees may, at their option, upon the completion of probation join the Union Pension Plan registered with the Ontario Pension Commission as Pension Plan #0398594.
In the second plan, the Nova Scotia Teachers’ Union Pension Plan, the Province of Nova Scotia along with the Nova Scotia Teachers’ Union (“NSTU”) assumes the actuarial and investment risk.
All employees will join the Sysco Canada Defined Contribution Union Pension Plan provided by Sun Life Financial.
In 2006, TCHC established the SERP for current eligible employees whose pension benefits were frozen in the Public Service Pension Plan or the Ontario Public Service Employees’ Union Pension Plan as at January 1, 2001.
More Definitions of Union Pension Plan
Union Pension Plan means the Rhodia Canada Inc. Pension Plan for the Employees of Rhodia Canada Inc. (Port Maitland).
Union Pension Plan has the meaning set forth in Section 8.02(b).
Union Pension Plan has the meaning specified in Section 7.1.4(j).
Union Pension Plan has the meaning specified in Section 6.2(l).
Union Pension Plan means the Occidental Chemical Corporation Retirement Plan for Union (Hourly and Salaried) Employees Plan.
Union Pension Plan means the Seller’s non-contributory pension plan for eligible union employees at its Fort Xxxxx, Indiana facility.
Union Pension Plan means the pension plan between Quincy Compressor Division (Division of Coltec Industries Inc.) and Lodge 822 of the International Association of Machinists and Aerospace Workers.