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the employees of a governmental subdivision who are covered by a collective bargaining agreement that provides for such coverage. 2. Sections 4.1 of the Restated Agreement and Declaration of Trust of the Central Pension Fund and 13.01 of the Plan of Benefits only permits Employer Contributions to the Fund. 3. The Parties agree that the agreed upon Employer contribution amount that would otherwise be paid in salary or wages will be contributed instead to the CPF as a pre-tax Employer contribution. Contributions from the Employer will not be funded from any other source unless agreed upon by the parties. 4. The hourly contribution rate will be applied to every hour compensated (i.e. hours worked, vacation, holiday and sick time) except for overtime hours worked. The Employer shall remit this contribution directly to the Central Pension Fund at P.O. Box 418433 Boston, MA 02241-8433. 5. A contribution of $2.40 per straight time hours compensated prevents annual Central Pension Fund contributions on behalf of eligible Employees from exceeding $10,000.00 in a year and therefore complies with the limitations set forth under Minnesota Statute, §356.24, Subd. 1(10) as amended. 6. For purposes of determining future wage rates, the Employer shall first restore the amount of the Employer Contribution, which is currently the CPF contribution rate of $2.40 per hour, then apply the applicable wage multiplier, then reduce the revised wage by the Central Pension Fund contribution rate. 7. For purposes of calculating overtime compensation, the Employer shall first restore the amount of the Employer Contribution $2.40 then apply the applicable 1.5 wage multiplier required under the Fair Labor Standards Act (FLSA) and the Collective Bargaining Agreement, then pay the resulting amount for overtime worked. 8. The Parties agree that the Public Employees Retirement Association (PERA) interprets Employer contributions to the Central Pension Fund as being included in determining "salary" for the purposes of the public pension. 9. The parties agree to abide by the terms and conditions of the Restated Agreement and Declaration of Trust and the Plan of Benefits of the Central Pension Fund. 10. Effective January 1, 2022, the contribution rate equals $2.40 per straight time hour compensated. 11. Members, by majority vote, may change the contribution rate at any time during the lifeofthe Collective Bargaining Agreement. The Union and Employer will work ARTICLE - together to implement member approved changes as soon as is practicable. — DURATION XXX This AGREEMENT shall be effective as of the date of its signing and shall remain in full force and effect January 1, 2024 through December 31, 2024. It shall continue in full force and effect from year-to-year, unless terminated or renegotiated in the manner provided by the Public Employment Labor Relations Act of 1971 as amended. 4 IN WITNE§,5 WHEREOF, the parties hereto have executed this AGREEMENT on this 1a - day of i'�i��u-`� 2024 17