Health
& We
lfare
and Pension Funds
of Philadelphia and Vicinity
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Contributions Each Covered Employer is required to make continuing and prompt payments to the Trust Fund as required by the written Collective Bargaining Agreement between the Employer and the Union. The obligation to make contributions continues during the periods when the Collective Bargaining Agreement is being negotiated although contributions shall not be required in case of strike after contract termination unless the parties involved mutually agree to the contrary. It is the policy of the Trustees that the benefits provided under the Plan shall be such that the contributions of the Covered Employers will satisfy the funding standards set forth in Section 412 of the Internal Revenue Code of 1986. Contributions made by a Covered Employer shall be irrevocable and shall be held as provided in the Pension Plan and the Trust Agreement for use in accordance with the provisions of the Plan to provide benefits and pay the expenses of the Plan.
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