BAC Local 5 New York Pension Reciprocal Agreement

This Reciprocal  Agreement for Bricklayers and Allied Craftworkers Local 5 New York Pension Fund (Reciprocal Agreement) is entered into by the Board of Trustees of Pension Fund (signatory Pension or Funds) which provide pension benefits for Employees (Employees) who are or have been represented for the purpose of collective bargaining.  This Reciprocal Agreement may also be entered into by Trustees of a Pension Fund which provides pension benefits for Employees not represented for the purpose of collective bargaining.

This Reciprocal Agreement becomes effective for each signatory Pension Fund on the “Effective Date” determined in accordance with Section 6 of this Agreement.

This Reciprocal Agreement shall be signed on behalf of a Fund becoming a signatory to this Reciprocal Agreement by at least one Employer and at least one Union Trustee of such Fund who are duly authorized to execute this Reciprocal Agreement for the Pension Fund.

The persons who are from time to time acting as Trustees of signatory Pension Funds are sometimes referred to in this Reciprocal Agreement as “Trustees.”

WITNESSETH:

WHEREAS, the Trustees of each signatory Pension Fund acting under separate Trust Agreements, are authorized and empowered to enter into this Reciprocal Agreement and to provide pension benefits to Employees.

WHEREAS, many Employees have contributions made for hours of employment to more than one pension fund and as a consequence may not be eligible for pension benefits from any pension fund because of the division of hours and contributions among several pension funds; and

WHEREAS, the Trustees of signatory Pension Funds desire to make some provision for continuity of eligibility for such Employees; and

WHEREAS, it is recognized that some signatory Pension Funds have reciprocal agreements based on point of claim or the transfer of contributions (money-follows-the-member) and it is further recognized that it is not the intent of this Reciprocal Agreement to modify, cancel or affect such agreements; and

WHEREAS, THE TRUSTEES OF EACH SIGNATORY PENSION FUND ACKNOWLEDGE THAT THEY HAVE AMENDED THEIR PLAN IN THE EXACT FORM OF EXHIBIT A (MONEY-FOLLOWS-THE-MEMBER) ATTACHED HERETO.

NOW, THEREFORE, in consideration of the premises, it is mutually understood and agreed as follows:

SECTION 1.  FORM OF RECIPROCITY - THE BOARD OF TRUSTEES OF EACH SIGNATORY PENSION FUND MUST AMEND ITS PENSION PLAN TO INCORPORATE THE ARTICLE ATTACHED HERETO AS EXHIBIT “A”.

Section 2.  Recognition - Each signatory Pension Fund, for the period it is bound by this Reciprocal Agreement, recognizes each other signatory Pension Fund as a “Related” and/or “Participating” Fund.

Section 3.  Effect on Other Reciprocal Agreements - This Reciprocal Agreement shall in no way be construed as interfering with or affecting any reciprocal agreement between signatory Pension Funds, unless the Related or Participating Plans covered under their own reciprocal agreement mutually agree to discontinue their reciprocal agreement and agree to be covered under this Reciprocal Agreement.

Section 4.  Cooperation - The effective administration of this Reciprocal Agreement requires that each Fund exchange information with respect to the eligibility status of persons covered by such Fund and the details of the plan of benefits provided by such Fund.  The Trustees of each signatory Pension Fund agree to cooperate in the exchange of relevant information and documents to permit implementation of the provisions in the attached Exhibit A.  Each signatory Pension Fund shall comply within thirty (30) days with any reasonable written request by another signatory Pension Fund for information or data necessary to carry out the purposes of this Reciprocal Agreement.

Section 5.  No change in Exhibit A - The Trustees of each signatory Pension Fund agree that, except as hereinafter provided in Section 13 no change shall be made in the provisions of the Articles attached hereto as Exhibit A, either by change of language or by any modification of the Pension Plan which would have the effect of changing the provisions of Exhibit A.  It is further agreed that the only way a signatory Pension Fund can terminate the operation of the provisions of Exhibit A is to follow the “termination” provisions of this Reciprocal Agreement set forth in Section 8 hereof.

Section 6.  Effective Date - Except as hereinafter provided, the “Effective Date” of this Reciprocal Agreement as to any signatory Pension Fund shall be the first day of the first calendar month following the date on which the signed Reciprocal Agreement (with appropriate attachments and accompanying documentation) is received in accordance with Section 7.  The Effective Date of the Reciprocal Agreement may be the first day of any calendar month following the date determined in accordance with the preceding sentence if such a date is specified in writing by the signatory Pension Fund when the signed Reciprocal Agreement (with appropriate attachments and accompanying documentation) is filed.

Section 7.  Filing of Reciprocal Agreements and Related Documents - Each Pension Fund which becomes signatory to this Reciprocal Agreement shall send a signed copy of such Reciprocal Agreement and the attached Exhibit A, as well as a copy of the resolution from the minutes of the meeting of the Board of Trustees at which the Reciprocal Agreement was formally adopted.

Section 8.  Termination - Except as provided in Section 11, this Reciprocal Agreement may terminate as to any signatory Pension Fund only as of the last day of a calendar year and only if such Fund files a written notice to that effect at least 90 days prior to the end of such calendar year.  If such written notice is not received at least 90 days in advance of the end of a calendar year, then this Reciprocal Agreement shall automatically continue in full force and effect until the end of the next calendar year.

The termination notice is to be signed by a majority of the Union and Employer Trustees of the Pension Fund.  A copy of such notice must be sent by certified mail.

Section 9.  Review Committee - In order to develop administrative procedures and forms which will be binding upon all signatory Pension Funds and to provide for uniformity of interpretation and application of this Reciprocal Agreement and Exhibit A attached hereto, there shall be established a Review Committee consisting of two trustees of each fund.  (one Employer Trustee and one Union trustee)

The period of appointment for members of the Review Committee shall be at the pleasure of the Board of Trustees which appointed them.  In order to fill a vacancy which may arise on such Committee, the successor Committee member shall be appointed by the organization then empowered to make such appointments.

Section 10.  Arbitration - Any dispute, controversy or claim arising out of or relating to the application of this Reciprocal Agreement or breach thereof shall be settled by arbitration.  Such arbitration shall be commenced by a signatory Pension Fund filing with such other signatory Pension Fund written notice by certified mail of its desire for arbitration.  Such notice shall set forth the names of the parties to the dispute and the nature of such dispute, controversy or claim.

If the Trustees of the signatory Pension Funds involved in the dispute cannot agree upon an Impartial Arbitrator within thirty (30) days, any party may request that an Impartial Arbitrator be appointed.  The award of such Arbitrator shall be final and binding upon the parties to the dispute.  The cost of such arbitration shall be borne equally by the signatory Welfare Funds involved in the dispute.

Section 11.  Expulsion - The Trustees of each signatory Pension Fund agree that the conduct of signatory Pension Funds shall be in strict accordance with the provisions of this Reciprocal Agreement.  Failure to comply with the provisions of this Reciprocal Agreement by signatory Pension Fund may result in termination of its participation in this Reciprocal Agreement.  The Review Committee is hereby empowered to bring about such termination by a majority vote and such termination may be made effective on the first day of any calendar month following such vote.  The Review Committee will not consider the expulsion of signatory Pension Fund from participation in this Reciprocal Agreement unless the expulsion of such Fund is expressly requested in writing and such Fund furnishes the Review Committee with documentation sufficient to support its request for expulsion

Section 12.  Separate Liability

(a)        It is expressly understood and agreed that none of the signatory Pension Funds assume any of the liabilities or obligations of any of the other signatory Pension Funds or parties to this Reciprocal Agreement.  Each signatory Pension Fund shall be liable solely and exclusively for benefits due under its own Pension Plan, and no signatory Pension Fund shall be liable for the acts or omission of any other Pension Fund.

(b)        The Trustees of each signatory Pension Fund shall be fully protected in acting upon any instrument, certificate, report or paper believed by them to be genuine, and the Trustees of each signatory Pension Fund shall be under no duty to make any investigation or inquiry as to any statement in any such writing, or as to the authority of the person making such statement, but may accept the same as conclusive evidence of the accuracy of the statement contained therein and the authority to make it.

Section 13.   Amendment - This Reciprocal Agreement may not be modified, varied, or altered except by the written approval of the Board of Trustees of the participating signatory Pension Funds.

Section 14.  Jurisdiction - This Reciprocal Agreement shall be construed and enforced according to the laws of the United States of America and the Trustees of the signatory Pension Funds shall be liable to account with respect to this Reciprocal Agreement, any rights and duties thereunder, in any court of competent jurisdiction.

Section 15.  Amendment of Plan Documents - The Trustees of each signatory Pension Fund agree that they will amend any legal documents as may be required in order to implement the provisions of this Reciprocal Agreement.

Section 16.  SIGNATURE PAGE

IN WITNESS WHEREOF the Pension Funds named below by the signature of its duly authorized Trustees hereby becomes a party to this Reciprocal Agreement and agrees to be bound by its terms and provisions.

Pension Fund Name:  Bricklayers and Allied Craftworkers Local 5 NY Pension Fund
Pension Fund Address:  126 Innis Avenue, Poughkeepsie, New York 12603
Pension Fund Office Phone Number:  (845) 452-3689                
Pension Fax Number:  (845) 452 -4771

Name of Person to Contact:  Maria Martini

BY:  Union Trustees                                                  BY:  Employer Trustees

____________________________________               _________________________________

Date:_________________________________________________________________________

Pension Fund Name:_____________________________________________________________

Pension Fund Address:___________________________________________________________

                                ___________________________________________________________

Pension Fund Office Phone Number:                        Pension Fund Office Fax Number:

_______________________________                     __________________________________

Name of Person to Contact:

 _____________________________________________________________________________

BY:  Union Trustee                                                BY:  Employer Trustees

_____________________________________          ___________________________________
 

Date:_________________________________________________________________________

This Agreement to become effective (Date) __________________________________________

Section 17.  EXHIBIT “A”

Transfer of Contributions - Money Follows-The-Member

SECTION 1.  PURPOSE - ELIGIBILITY IS CONTINUED FOR PENSION BENEFITS UNDER THIS RECIPROCAL AGREEMENT FOR EMPLOYEES WHO WOULD OTHERWISE LOSE ELIGIBILITY FOR PENSION BENEFITS BECAUSE THEIR EMPLOYMENT IS DIVIDED BETWEEN LOCAL UNION JURISDICTIONS HAVING DIFFERENT PENSION PLANS AND IN SOME CASES SUCH EMPLOYEES MAY NOT HAVE SUFFICIENT HOURS OF CONTRIBUTIONS IN ONE FUND TO BE ELIGIBLE FOR BENEFITS BECAUSE OF THE DIVISION OF HOURS AND CONTRIBUTIONS AMONG SUCH FUNDS.

Section 2.  Definitions -

(a)        “Employee” shall mean any employee on whose behalf payments are required to be made to a Participating Fund by an Employer pursuant to a collective bargaining agreement or other written agreement.

(b)        “Employer” shall mean any employer signatory to a collective bargaining agreement or other written agreement providing for contributions to a Participating Fund.

(c)        “Participating Fund” shall mean and Pension Fund which by resolution of the Board of Trustees, has approved participation in and executed this Reciprocal Agreement.

(d)        “Home Fund” shall mean the Pension Fund in which the member’s Local Union participates or, if an Employee is not a member of a Local Union, the Pension Fund in which the Local Union that represents him participates.

Section 3.  Employee Authorization - If contributions are or will be made on an Employee’s behalf to a Participating Fund signatory to EXHIBIT A of this Reciprocal Agreement for Pension Funds the Employee may, file a request with the Participating Fund that such contributions be transferred to the Employee’s Home Fund or his/her behalf.  Such request shall be made in writing on a form approved by the respective Funds which is signed and dated by the Employee.  Said request form shall release the Boards of Trustees of the respective Funds from any liability or claim by an Employee, or anyone claiming through the Employee, that the transfer of contributions may not work to his/her best interest.  Said completed request form shall be filed y the Employee with the Participating Fund within sixty (60) days following the beginning of employment within

the Participating Fund’s jurisdiction, provided however, that the Board of Trustees of the Participating Fund may, at its discretion, grant an extension of that sixty (60) day period for special circumstances.

If the Employee does not file a timely request form with the Participating Fund, the Employee will be treated as electing not to authorize a transfer of contributions.  By filing a request for transfer of contributions, the Employee agrees that his/her eligibility for benefits and all other participant rights are governed by the terms of the Home Fund’s Pension plan and not by the terms of the Participating Fund’s Pension Plan.

Section 4.  Transfer of Contributions - Upon receipt of a timely and properly completed request for a transfer of contributions to the Employee’s Home Fund, the Participating Fund shall collect and transfer to the Employee’s Home Fund the contributions required to be made to the participating Fund on the Employee’s behalf.  Said contributions shall be forwarded to the Employee’s Home Fund within thirty (30) calendar days following the calendar month in which the contributions were received.  Any delay in transferring contributions shall be considered a violation of the Reciprocal Agreement and subject to its provisions for arbitration.  The contributions so transferred shall be accompanied by such records or report which are necessary or appropriate.  The participating Fund shall transfer to the Home Fund an amount based on the lesser of the contribution rate of the Participating Fund or the Home Fund less a reasonable allowance for administrative expenses.  All hours for which contributions were made to the Participating Fund will be credited by the Home Fund for purposes of determining the Employee’s eligibility for benefits under the Home Fund. 

Section 5.  Eligibility - The Board of Trustees of each Home Fund shall be responsible for determining whether an Employee is eligible to receive benefits under the Home Fund’s plan based on the Home Fund’s eligibility rules and a uniform application of how such transferred contributions should be credited.

RESOLUTION ADOPTING THE RECIPROCAL AGREEMENT OF 

BRICKLAYERS AND ALLIED CRAFTWORKERS LOCAL 5 NEW YORK PENSION FUND

WHEREAS the undersigned are all the duly appointed and acting Trustees of the Bricklayers and Allied Craftworkers Local 5 New York Pension Fund which Pension Fund is duly organized and existing in accordance with ERISA and is qualified as tax exempt under the Internal Revenue Code, and

WHEREAS the current Agreement and Declaration of Trust of the BAC 5 NY Pension Fund as amended authorizes the Trustees to enter into reciprocal agreements with other Pension Funds, and

WHEREAS the Trustees of the BAC 5 NY Pension Fund met at a regularly scheduled Trustees’ meeting and, after due consideration and review of the proposed reciprocal agreement, did determine that it was in the best interests of the BAC 5 NY Pension Fund and did unanimously vote to enter into the reciprocal agreement with various other Pension Funds,

NOW THEREFORE, be it hereby RESOLVED that the BAC 5 NY Pension Fund shall execute and enter into the proposed reciprocal agreement with various other Pension Funds effective as of the 4th day of January, 1999.

So resolved by the Pension Fund on the 4th day of January, 1999.

________________________________        ________________________________

EMPLOYER TRUSTEE                                  UNION TRUSTEE

________________________________        _________________________________

EMPLOYER TRUSTEE                                  UNION TRUSTEE

RESOLUTION ADOPTING RECIPROCAL AGREEMENT BETWEEN

BRICKLAYERS AND ALLIED CRAFTWORKERS LOCAL 5 NEW YORK 

PENSION FUND

AND

BRICKLAYERS AND ALLIED CRAFTWORKERS LOCAL ______ PENSION FUND

WHEREAS the undersigned are all the duly appointed and acting Trustees of the Bricklayers and Allied Craftworkers Local ______, Pension Fund which Pension Fund is duly organized and existing in accordance with ERISA and is qualified as tax exempt under the Internal Revenue Code, and

WHEREAS the current Agreement and Declaration of Trust of the Pension Fund as amended authorizes the Trustees to enter into reciprocal agreements with other Pension Funds, and

WHEREAS the Trustees of the Pension Fund met at a regularly scheduled Trustees’ meeting and, after due consideration and review of the proposed reciprocal agreement, did determine that it was in the best interests of the Pension Fund and did unanimously vote to enter into the reciprocal agreement with the Bricklayers and Allied Craftworkers Local 5 New York, Pension Fund,

NOW THEREFORE, be it hereby RESOLVED that the Pension Fund shall execute and enter into the proposed reciprocal agreement with the Bricklayers and Allied Craftworkers Local 5 New York Pension Fund effective as of the _______ day of ____________________, ____________.

So resolved by the Pension Fund on the ________ day of ______________, ________.

_______________________________          __________________________________

EMPLOYER TRUSTEE                                  UNION TRUSTEE

_______________________________          __________________________________

EMPLOYER TRUSTEE                                  UNION TRUSTEE

_______________________________          __________________________________

EMPLOYER TRUSTEE                                  UNION TRUSTEE