SECTION 181. Retirement or health and welfare funds; failure of employer to make payments

It shall be unlawful for any employer who has entered into a collective bargaining agreement with a labor organization or association of employees providing for payments to a health or welfare fund or pension fund or other such plan for the benefit of employees to fail to make the payments required by the terms of any such agreement. Any employer who willfully fails to make such payments within sixty days after they become due and payable, shall be guilty of a misdemeanor and shall be punished by a fine of not less than one hundred dollars nor more than five hundred dollars for each offense. The term health or welfare fund or pension fund or other such plan for the benefit of employees includes any plan, trust or fund established by an employer organization, or by an employer and a labor organization or by an employer and an employee organization, the funds for which are derived in whole or in part from contributions by employers, and which exists for the purpose of paying or providing for employees or their families or dependents medical or hospital care, recreation facilities, pensions, annuities, benefits on retirement or death or unemployment of beneficiaries, severance pay, compensation for injuries or illness, insurance to provide any of the foregoing vacation or holiday benefits, apprenticeship training, or life insurance, disability or sickness or accident insurance.