Over the Wire: Fall 2018

Fund Contributions

Each month, signatory Employers with IBEW Local Union 424 are required to remit hours and contributions to the Health and Welfare Fund and Pension Fund on behalf of their Employees. The Employer reports hours worked by Employees on a form called the “Employer’s Report of Contribution.” The Report of Contribution along with the contributions must be received by the Fund Office on or before the 15th of the month, following the month in which the hours were worked by their Employees.

All contributions are remitted in accordance with the terms of the Collective Agreement. An Employer can remit hours and contributions for bargaining and/or non-bargaining Employees. Employers are required to remit a bargaining Employee’s straight time hours as well as any overtime hours at either time and one-half, or double time. A bargaining Employee is a person working within the classifications of employment set out in the Collective Agreement. Bargaining Employees cannot be a Director of the Employer’s company or own more than 50% of the Employer’s company. If they do, they must be reported as a “non-bargaining” Employee. Non-bargaining Employees also include Managers and/or administrative staff of the Employer. Non-bargaining hours must be remitted to the Plans in increments of either 140 or 160 hours per month, regardless of the number of hours the Employee worked.

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