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Article. This "hold harmless" clause does not hold the EMPLOYER harmless for failing to transfer <br />the agreed contributions to the IUOE Central Pension Fund. <br />It is agreed that for purposes of determining future wage rates, the EMPLOYER shall first restore <br />the amount of the wage reduction, which is currently the CPF contribution rate of $0.96 per hour, <br />then apply the applicable wage multiplier, then reduce the revised wage by the CPF contribution <br />rate. It is further agreed that for purposes of calculating overtime compensation the EMPLOYER <br />shall first restore the amount of the wage reduction ($0.96/ hr.) then apply the applicable 1.5 or <br />2.0 wage multiplier required under the Fair Labor Standards Act and the collective bargaining <br />agreement, then pay the resulting amount for overtime worked. <br />The contribution of $0.96 per hour prevents an employee's annual CPF contributions from <br />exceeding $2,000.00 in a year and therefore complies with limitations set forth under Minnesota <br />Statute § 356.24, sub. 1(9) as amended in 2002. The CPF Plan of Benefits and the Agreement <br />and Declaration of Trust will serve as the governing documents. The CPF is a supplemental <br />Pension Fund authorized by Minnesota Statutes, 356.24, subdivision 1(9).