Market Recovery Stabilization Fund

The Employer shall remit one dollar ($1.00) per person hour worked for each employee covered under this agreement to the Union Market Recovery Stabilization Fund. Payment shall be made no later than fifteen (15) days after the termination of the calendar month to the Administrator jointly appointed by the Trustees of the Fund accompanied by a statement of names, hours worked, amount for each employee during such calendar month. Employers who are delinquent for forty-five (45) calendar days or more will be assessed a penalty payment of (15%) fifteen percent for all hours owning. This penalty payment shall be payable to the Fund. This Fund will be jointly administered under the Terms of Reference as mutually agreed in the Market Recovery Stabilization Agreement and Declaration of Trust. f CLRA and Heat and Frost Insulators Local 137 Collective Agreement 2022-2027 Page 18 oe ft SP 26