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Benefits Annuity Fund Plan Determining your benefit You may be eligible to participate in the Plan if you are an employee of an Employer that has entered into a covered collective bargaining agreement with District Council 37 requiring contributions be made to the Plan. If you are an eligible Participant, there are two ways your Employer may have made contributions to the Plan on your behalf-on a "One-Time" basis, or your Employer may have made contributions on a "Recurring" basis, or both. A description of both types of contributions follows. The Employers required to make contributions to the Plan may change. You should contact the Plan Administrator for a current list of the designated covered titles and Employers covered by the Plan. You may have received a "One-Time"
Contribution, in which case the following applies:
Contributions for service after these respective service periods are payable to the extent provided under collective bargaining agreements. You may be receiving
a "Recurring" Contribution, in which case the following applies:
Effective March 31, 2002, employees in the following designated covered titles are entitled to allocations of Employer contributions generally equal to $4.27 for each Paid Working Day, up to a maximum of $1,114.51 per year, until the bargaining agreement no longer provides for such Employer contributions:
Effective June 30, 2002, employees in the following designated covered titles are entitled to pro-rata daily allocation of Employer contributions, up to a maximum of $981.36 per year, until the collective bargaining agreement no longer provides for such Employer contributions:
Effective February 22, 2008, employees in the following designated covered titles are entitled to allocations of Employer contributions generally equal to $7.4235 for each Paid Working Day, up to a maximum of $1,930.08 per year, until the collective bargaining agreement no longer provides for such Employer contributions:
Effective March 2, 2008, employees in
designated covered Social Service Titles are entitled to allocations of
Employer contributions generally equal to $2.6310 for each Paid
Working Day, up to a maximum of $684.00 per year, until the collective
bargaining agreement no longer provides for such Employer contributions. You may
request a list of the designated covered Social Service Titles by contacting
the Plan Administrator.
A Paid Working Day is
measured as an ordinary working day for full-time per annum or per diem employees,
seasonal employees, and school-based employees who work at the Board of Education
on a 10-month or 12-month schedule. In the case of employees who work a compressed
work week, a Paid Working Day is measured as the equivalent of a set of paid working
hours which is equal to the daily number of hours that employees are regularly
scheduled to work. For employees who work less than full time and for school-based
employees who work part-time at the Board of Education, a Paid Working Day is
measured as a prorated amount which is calculated against the number of hours
associated with a full-time equivalent job title.
You may request a copy of the
complete Plan by calling the Annuity Fund Plan at 212 815-1888.
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