Owners Under Sections C.1
Through C.4 of the Master Agreement
If an employer
becomes delinquent more than forty-five (45) days, anyone
covered by the fringe benefit funds as an Owner or Corporate
Officer under Sections C.1 through C.4 of the collective
bargaining agreement will no longer be eligible to participate
in the fringe benefit funds as an Owner or Officer. All benefits under the funds will be forfeited except for vested
pension benefits and vacation and holiday contributions. This
means that after becoming more than forty-five (45) days
delinquent, even if the employer later pays the contributions
and becomes current, the Owner or Corporate Officer will be
permanently unable to obtain coverage under the fringe benefit
funds as an Owner or Corporate Officer. In advance of the
forty-fifth (45th) day of the delinquency, the Fund
Office will mail a written notice to the Owner or Corporate
Officer of the delinquency and of the possible forfeiture of
coverage. If the coverage is subsequently lost because of the
delinquency, the Fund Office will notify the Owner or Corporate
Officer in writing as soon as possible after the loss of
coverage. In accordance with Section C.1.3.4 of the collective
bargaining agreement, the loss of coverage will not apply if the
employer goes out of business, or the individual becomes
unemployed, and the individual makes himself available for
covered employment by immediately signing the Local Union’s out
of work list.
These procedures
under Sections C.1 through C.4 of the Master Agreement shall
also apply to coverage under the Plumbers and Pipefitters
National Pension Fund; but otherwise, the rules of the Plumbers
and Pipefitters National Pension Fund shall apply in determining
coverage under, and the obligation to contribute to, that Fund
on behalf of Owners and Corporate Officers.
