HOUR BANK Clause Samples

The Hour Bank clause establishes a system for tracking and managing employee work hours, typically allowing hours worked beyond a standard schedule to be accumulated in a 'bank.' Employees can later use these banked hours as time off or for other agreed purposes, depending on the terms set out in the agreement. This clause provides flexibility in workforce management and helps address fluctuations in workload by allowing employees to work extra hours during busy periods and take time off when it is less busy, thereby ensuring operational efficiency and employee satisfaction.
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HOUR BANK. Hours worked by each employee in excess of qualifying hours each month will accumulate as the employee’s Health and Welfare reserve bank of hours, up to a maximum of 360 hours. Any employee found performing work for a non-signatory, non-contributing employer shall lose coverage for himself/herself and his/her dependents as of the first day of the month in which such employment commences and shall forfeit all hours in his/her Health & Welfare reserve bank of hours, in accordance with the Loss of Coverage provision of the Health & Welfare Trust Agreement.
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HOUR BANK. Each member has an “Hour Bank” account. When you are employed, your employer must remit to the Welfare Plan, the hours you have worked each month, along with the funds as set out in the collective agreement. These hours are due in the Welfare Plan office by the 15th day of the month following that in which they are worked. (As an example hours you work in May are received in this office on June 15th.) Each month hours reported for you are deposited to your welfare “hour bank” When you are covered under the plan, 120 hours are withdrawn from your “hour bank” account each month in order to pro- vide for your coverage. Members can accumulate a maximum of 1,440 hours in their account. The accumulated hours may be used during periods of poor employment, illness or vacations. Any hours in excess of 1,440 are transferred to the Welfare General Account.
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HOUR BANK. Employees shall have the option of setting up an hour bank in which they can deposit hours worked at the regular rate immediately after their normal shift in response to a call, statutory holiday hours as provided for in paragraph 14.03 b) or hours worked at the overtime rate; in this last case, the hours are added at the rate of one and a half hours for each hour worked.
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