METHOD OF PAYMENT
Contributions for work in the jurisdiction of Local 25, I.B.E.W., Reciprocal Agreement Payments and MRA Payments may be used to meet all or part of the requirement for coverage cost. If sufficient funds are not available from the above sources to meet the entire requirement for coverage cost, the Plan Participant will be responsible for immediate payment of the difference.
Continuous Employment/Insufficient Clock Hours
All Plan Participants who work continuously for the same employer under a”B” Plan Collective Bargaining Agreement, shall in order to become and remain eligible for Plan Coverage, be required to have contributions made on their behalf based on a minimum of 800 clock hours in each benefit coverage period pursuant to the applicable collective bargaining agreement under which contributions are due. If such Plan Participant does not accumulate 800 clock hours, the Plan Participant will be responsible for immediate payment of the difference in clock hours which shall be paid at the average Residential Wireman’s, Residential Unit Collective Bargaining Agreement Fund contribution rate.
Further, Officers, Directors, or Stockholders of a corporation or partners and sole proprietors who are participating in this Plan must contribute to the Plan on the basis of at least 1,000 hours of contributory employment per coverage period.
If you are on the referral list of IBEW Local 25 for two consecutive benefit coverage periods, i.e., a six-month period commencing the first Saturday after the last Friday of December and June of each year, and have not worked any clock hours in covered employment during such time, your coverage by the Fund shall terminate. During periods of severe unemployment, the Trustees may extend the non-work consecutive benefit coverage periods as necessary.