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I - W-1 <br />11 I <br />� I � <br />1 � <br />1 <br />NNOW1V2r.WARj!9!I. <br />• OW <br />- . <br />- - 1111- <br />1. Minnesota Statute § 356.24, Subd. 1(10) expressly authorizes the Employer to <br />contribute public funds to the Central Pension Fund as a supplemental pension plan for <br />the employees of a governmental subdivision who are covered by a collective bargaining <br />agreement that provides for such coverage. <br />2. Sections 4.1 of the Restated Agreement and Declaration of Trust of the Central Pension <br />Fund and 13.01 of the Plan of Benefits only permits Employer Contributions to the Fund. <br />3. The Parties agree that the agreed upon Employer contribution amount that would <br />otherwise be paid in salary or wages will be contributed instead to the CPF as a pre-tax <br />Employer contribution. Contributions from the Employer will not be funded from any <br />other source unless agreed upon by the parties. <br />4. The hourly contribution rate will be applied to every hour compensated (i.e. hours <br />worked, vacation, holiday and sick time) except for overtime hours worked. The <br />Employer shall remit this contribution directly to the Central Pension Fund at P.O. Box <br />418433 Boston, MA 02241-8433. <br />5. A contribution of $2.40 per straight time hours compensated prevents annual Central <br />Pension Fund contributions on behalf of eligible Employees from exceeding $10,000.00 <br />in a year and therefore complies with the limitations set forth under Minnesota Statute, <br />§356.24, Subd. 1(10) as amended. <br />6. For purposes of determining future wage rates, the Employer shall first restore the <br />amount of the Employer Contribution, which is currently the CPF contribution rate of <br />$2.40 per hour, then apply the applicable wage multiplier, then reduce the revised wage <br />by the Central Pension Fund contribution rate. <br />7. For purposes of calculating overtime compensation, the Employer shall first restore the <br />amount of the Employer Contribution $2.40 then apply the applicable 1.5 wage <br />multiplier required under the Fair Labor Standards Act (FLSA) and the Collective <br />Bargaining Agreement, then pay the resulting amount for overtime worked. <br />14 <br />