What is the contribution rate to join the Trust?

  • Monthly contributions from salary.
    • $100 minimum per employee per month. An Association may join with contributions in any $25 increment, starting at least at $100/month per employee per month.  There can be no individual election either to participate or the contribution level.  Currently, Associations have bargained a range of $100 to $750 per employee per month.
    • Special rate of $50 for 12 months. An Association may use a contribution rate of $50/employee per month for no more than twelve months.
  • Changes in Contribution Rate Allowed
    Each Association is allowed to change its contribution in increments of $25 at any time, as set forth in your MOU, or side letter.
  • Contribution of sick or vacation leave in the form of a Lump-Sum transfer to Individual Accounts.
    An An Association may also join by negotiating an automatic transfer of its members’ accrued sick and/or vacation leave to the Trust for deposit into Individual Accounts. The Trust will accept deposits of accrued sick/vacation leave at retirement or once a year, if negotiated in the MOU at a uniform percentage (e.g., 50% of accumulated sick leave; 100% of accumulated sick leave, etc.) for all individuals in the bargaining unit. These amounts will not be taxable income to the employee (as they would be if the employee receives them in cash). These amounts will be credited to the participant’s Individual Account in the Trust.