The following language outlines the SUB fund agreement with the Company
The Company agrees to fund a joint Supplementary
Unemployment Benefit (S.U.B.) plan. Under this plan the
Company will pay ten (10) cents an hour per employee on all
straight time hours worked into a S.U.B. fund. In the case of layoffs,
eligible employees will receive $110.00 per week from this
fund. The Company will establish a line of credit up to a maximum
of $500,000 to be drawn on by the S.U.B. Fund on an “as
required” basis in order to maintain a benefit level of one hundred
and ten dollars ($110) per week. Any draw down of the $500,000
line of credit will be reimbursed through future contributions
The Union has inquired about the plan and as of yet no response from the company. Please don’t hesitate to contact HR regarding this and how or who it will be administered by.