ACTIVE VEBA Sample Clauses
The "Active VEBA" clause establishes the use of a Voluntary Employees' Beneficiary Association (VEBA) trust to provide certain benefits to active employees. Typically, this clause outlines how the VEBA will be funded, which benefits it will cover—such as health, dental, or life insurance—and the eligibility criteria for employees to participate. By formalizing the structure and administration of employee benefits through a VEBA, this clause ensures that benefit obligations are managed in a tax-advantaged and organized manner, providing clarity and security for both the employer and employees.
ACTIVE VEBA. Contributions from Employee Wages (all regular bargaining unit members) Each bargaining unit will conduct a vote for all regular employees, as defined in the City’s employer personnel manual, to determine whether to participate in a Health Reimbursement Account (HRA) Voluntary Employee Benefits Association (VEBA) for active employees to participate in an Active VEBA. Once they begin participating in the VEBA, employees may file claims for eligible expenses as provide under the terms of the VEBA. If the bargaining unit votes to require ▇▇▇▇ contributions from employee wages, then all members of the bargaining unit shall, as elected by the bargaining unit as to all of its members, make a mandatory employee contribution of one of the amounts listed below into the VEBA while employed by the City:
1. $25 per month 2. $50 per month
ACTIVE VEBA. 12.4.1 Contributions from Employee Wages (all regular employees who are part of the bargaining unit)
A. If the bargaining unit votes to require ▇▇▇▇ contributions from employee wages, then all members of the bargaining unit shall, as elected by the bargaining unit as to all of its members, make a mandatory employee contribution of one of the amounts listed below into the VEBA while employed by the City:
1. $25 per month, or
2. $50 per month
ACTIVE VEBA. Contributions from Employee Wages (all regular employees in the bargaining unit)
1. $25 per month, or 2. $50 per month
ACTIVE VEBA. Contributions from Employee Wages (all regular employees who are part of the bargaining unit) Each bargaining unit will conduct a vote for all regular employees, as defined in the City’s employer personnel manual, to determine whether to participate in a Health Reimbursement Account (HRA) Voluntary Employee Benefits Association (VEBA) for active employees to participate in an Active VEBA. Once they begin participating in the VEBA, employees may file claims for eligible expenses as provided under the terms of the VEBA. If the bargaining unit votes to require ▇▇▇▇ contributions from employee wages, then all members of the bargaining unit will, as elected by the bargaining unit as to all of its members, make a mandatory employee contribution of one of the amounts listed below into the VEBA while employed by the City:
1. $25 per month, or 2. $50 per month
2. ALLOCATION OF RESPONSIBILITY The City assumes no responsibility for the tax or other consequences of any VEBA contributions made by or on behalf of any member for either the active or post-retirement options. Each union that elects to require VEBA contributions for the benefit of its members assumes sole responsibility for insuring that the VEBA complies with all applicable laws, including, without limitation, the Internal Revenue Code, and agrees to indemnify and hold the City harmless for any taxes, penalties and any other costs and expenses resulting from such contributions.