METHOD OF PAYMENT OF CONTRIBUTIONS AND DEDUCTIONS Sample Clauses

The 'Method of Payment of Contributions and Deductions' clause defines how and when payments such as employee contributions and employer deductions are to be made under an agreement. It typically outlines the acceptable forms of payment (such as direct deposit or check), the schedule for remittance (for example, monthly or per pay period), and the parties responsible for making or processing these payments. By specifying these procedures, the clause ensures that financial obligations are met in a timely and organized manner, reducing the risk of disputes or errors related to payment processing.
METHOD OF PAYMENT OF CONTRIBUTIONS AND DEDUCTIONS. 21.01 The contributions and deductions referred to in Article 13, 14, 17, 18, 19, 20 and Schedule "A" - (10) –Benefits Plan and Pension Plans, shall be remitted monthly by cheque, together with a form supplied to the Employers by the Union, to the Operating Engineers' Benefits Plan. The said Operating Engineers' Benefits Plan shall remit monthly all such monies received to the Operating Engineers' Joint Apprenticeship and Upgrading Fund and Plan, the Jurisdictional Assignment Plan Fund, the Operating Engineers' Mechanics Tool Allowance Fund, the Construction Industry Rehabilitation Fund, the Operating Engineers' Advancement Fund and the Union. The said Operating Engineers' Benefits Plan may make reasonable charge for administrative expenses as determined by the Trustees of the said Plan, and approved by the Trustees of the recipient Funds. 21.02 Timely payment of wages and contributions to the Trust Funds, provided for in this Agreement is essential for the protection of the beneficiaries. Delinquency and continued failure to pay wages and/or remit contributions to the Trust Funds shall be dealt with as follows: (a) The Union will advise the Employer in writing of any delinquency. (b) If within forty-eight (48) hours of receipt of notification, exclusive of Saturday, Sunday and holidays, the Employer has failed to pay delinquent contributions or the Employer has failed to request a meeting with the Union to provide for the payment of delinquent contributions then the Employer agrees that all contributions/deductions due and payable in accordance with this Agreement, are in arrears and subject to an additional charge at the rate of ten percent (10%) on all contributions/deductions in arrears. This is not to be construed that the above charges relieve the Employer of any further liabilities which may occur because of their failure to report and pay contributions/deductions as provided. (c) Should the matter not be resolved at the above mentioned meeting, the Union may demand payment of wages and contributions at the end of each day or at the end of each week or, upon twenty-four (24) hours' notice to the Employer, withdraw its members from the Employer without contravening the terms of this Agreement.
View SourceView Similar (22)
METHOD OF PAYMENT OF CONTRIBUTIONS AND DEDUCTIONS. The contributions referred to in Clause 4 shall be remitted monthly by cheque not later than the fifteenth (15th) day of the month following the month in which such hours were earned, together with a form supplied to Employers by the agency appointed by the Board of Trustees. The said agency shall remit monthly all such monies received to the funds and plans as provided for in Clause 4 and may make reasonable charge for administrative expenses as determined by the agency and approved by the Trustees of the recipient funds.
View SourceView Similar (12)
METHOD OF PAYMENT OF CONTRIBUTIONS AND DEDUCTIONS. The contributions referred to in Clause VIII Training and Upgrading Programmes and Teamsters Advancement Fund, Rehabilitation Fund and the Owner Operator/Dependent Contractor Advancement Fund and the deductions referred to in Clause XVII (a) Dues Supplement, (b) Teamsters Local Union 213 Owner Operator Building, Recreational and Legal Fund shall be remitted monthly by cheque, together with a form supplied to the Employer by the Union to the Local Union Office concerned. The said Local Union shall, by the thirtieth (30th) day of the month following that to which they refer, remit to the Funds concerned all collections made on their behalf. The contributions for Health, Welfare and Pension (see Schedule "A") paragraph one (1) shall be remitted by the Employer in accordance with and on the form provided. If, within forty-eight (48) hours of receipt of notification, exclusive of Saturdays, Sundays and Holidays, the Employer has failed to pay delinquent contributions then the Employer agrees that all contributions/deductions due and payable in accordance with this Agreement are in arrears and subject to a delinquency charge of two percent (2%) per month of the total amounts of the unpaid Trust Funds in arrears and will attach to those unpaid Trust Funds and become due and payable as damages to cover costs of collections and loss of earnings suffered by the Trust. This is not to be construed that the above charges relieve the Employer of any further liabilities which may occur because of his failure to report and pay contributions/deductions as provided. (Clause applicable to Dependent Contractors.)
View SourceView Similar (4)
METHOD OF PAYMENT OF CONTRIBUTIONS AND DEDUCTIONS. 23.01 The contributions and deductions referred to in Articles 5, 17, 18, 19, 20, 21, and 22 shall be remitted monthly by cheque together with a form supplied to the Employer by the Administrator of the Operating Engineers’ Benefits Plan and mailed not later than the 15th day of each month to the Administrator of the Operating Engineers’ Benefits Plan. The said Operating Engineers’ Benefits Plan shall remit monthly all such monies received to the Operating Engineers’ Joint Apprenticeship and Upgrading Fund and Plan, the Operating Engineers’ Tool Allowance Fund, the Operating Engineers’ Advancement Fund and the Construction Industry Rehabilitation Fund. The said Operating Engineers’ Benefits Plan may make reasonable charge for administrative expenses as determined by the Trustees of the said Plan, and approved by the Trustees of the recipient Funds. 23.02 If within forty-eight (48) hours of receipt of notification, by either the Union or the Benefits Plan, exclusive of Saturday, Sunday and holidays, the Employer has failed to pay delinquent contributions then the Employer agrees that all contributions/deductions due and payable in accordance with this Agreement, are in arrears and a delinquency charge of two percent (2%) per month of the total amount of the unpaid trust funds in arrears will attach to those unpaid trust funds and become due and payable as damages to cover costs of collection and loss of earnings suffered by the Trust. This is not to be construed that the above charges relieve the Employer of any further liabilities which may occur because of his failure to report and pay contributions/deductions as provided.
View SourceView Similar (3)
METHOD OF PAYMENT OF CONTRIBUTIONS AND DEDUCTIONS. The contributions referred to in Clause VIII (a) Training and Upgrading and Clause VIII (c) Teamsters Advancement Fund and the deductions referred to in Clause XVIII (a) Dues Supplement and (b) Teamsters Local Union 213 Owner Operator, Building, Recreational and Legal Fund.
View SourceView Similar (2)
METHOD OF PAYMENT OF CONTRIBUTIONS AND DEDUCTIONS. The contributions referred to in Clause VIII (a) Training and Upgrading and Clause VIII
View Source
METHOD OF PAYMENT OF CONTRIBUTIONS AND DEDUCTIONS. Local 115 Contributions and Deductions:
View Source
METHOD OF PAYMENT OF CONTRIBUTIONS AND DEDUCTIONS. 30.01 The contributions and deductions referred to in Articles 3, 15, 18, 19, 20, 21, 22, 23, 24, 25, 27, and 28 shall be remitted monthly by cheque together with a form supplied to the Employers by the Union to the Operating Engineers' Benefits Plan. The said Operating Engineers' Benefits Plan shall remit monthly all such monies received to the Jurisdictional Assignment Plan Fund, the Bargaining Council of British Columbia Building Trades Unions Fund, the IUOE Local 115 Training Association Fund, the British Columbia Building Trades Fund, the Operating Engineers' Mechanics, Servicemen and Welders Tool Allowance Fund, the Construction Industry Rehabilitation Fund, the Operating Engineers' Advancement Fund, the Operating Engineers Benefits Plan and Pension Plan, the Mobile Crane Owners Association Fund, the CLR Contract Administration Fund, the Construction Industry of BC Substance Abuse Testing and Treatment Program (D&A Policy) Fund, and the Union. The said Operating Engineers' Benefits Plan may make Crane Rental Agreement May 1, 2016 to April 30, 2019 reasonable charge for administrative expenses as determined by the Trustees of the said Plan, and approved by the Trustees of the recipient Funds.
View Source

Related to METHOD OF PAYMENT OF CONTRIBUTIONS AND DEDUCTIONS

  • Payment of Contributions The College and eligible academic staff members of the plan shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.

  • Allocation of Contributions You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.

  • Investment of Contributions At the direction of the Designated Beneficiary (or the direction of the Depositor or the Responsible Individual, whichever applies) the Custodian shall invest all contributions to the account and earnings thereon in investments acceptable to the Custodian, which may include marketable securities traded on a recognized exchange or "over the counter" (excluding any securities issued by the Custodian), covered call options, certificates of deposit, and other investments to which the Custodian consents, in such amounts as are specifically selected and specified in orders to the Custodian in such form as may be acceptable to the Custodian, without any duty to diversify and without regard to whether such property is authorized by the laws of any jurisdiction as a custodial account investment. The Custodian shall be responsible for the execution of such orders and for maintaining adequate records thereof. However, if any such orders are not received as required, or, if received, are unclear in the opinion of the Custodian, all or a portion of the contribution may be held uninvested without liability for loss of income or appreciation, and without liability for interest pending receipt of such orders or clarification, or the contribution may be returned. The Custodian may, but need not, establish programs under which cash deposits in excess of a minimum set by it will be periodically and automatically invested in interest-bearing investment funds. The Custodian shall have no duty other than to follow the written investment directions of the Designated Beneficiary (or the Depositor or Responsible Individual), and shall be under no duty to question said instructions and shall not be liable for any investment losses sustained by the Designated Beneficiary.

  • Tax Credit for Contributions You may be eligible to receive a tax credit for your IRA contributions. This credit will be allowed in addition to any tax deduction that may apply, and may not exceed $1,000 in a given year. You may be eligible for this tax credit if you are • age 18 or older as of the close of the taxable year, • not a dependent of another taxpayer, and • not a full-time student. The credit is based upon your income (see chart below), and will range from 0 to 50 percent of eligible contributions. In order to determine the amount of your contributions, add all of the contributions made to your IRA and reduce these contributions by any distributions that you have taken during the testing period. The testing period begins two years prior to the year for which the credit is sought and ends on the tax return due date (including extensions) for the year for which the credit is sought. In order to determine your tax credit, multiply the applicable percentage from the chart below by the amount of your contributions that do not exceed $2,000. *Adjusted gross income (AGI) includes foreign earned income and income from Guam, America Samoa, North Mariana Islands, and Puerto Rico. AGI limits are subject to cost-of-living adjustments each year.

  • Rollover Contributions An amount which qualifies as a rollover contribution pursuant to the Federal Internal Revenue Code may be transferred to and paid under this contract as a contribution for a Participant. Prudential may require proof that the amount paid so qualifies.