Common use of Establishment of a Trust Clause in Contracts

Establishment of a Trust. The City established a Trust for purposes of funding City-wide retiree health care costs. Each employee will make direct contributions to the trust in the amounts described below.  Tier 1 and Tier 2 retiree medical = $100/month  Tier 3 retiree medical – no contribution to OPEB trust Employer and employee contributions are made to a CalPERS retiree medical trust. This money and earnings from this money may only be spent on retiree medical benefits and, to that extent, is a protected program. Employee contributions to the Trust shall be discontinued upon full funding of the City’s actuarial liability for retiree medical costs.

Establishment of a Trust. The City established a Trust for purposes of funding City-wide retiree health care costs. Employee premium share of the health plans and dental plan contributions will be deposited by the City into the Trust. The City established a Trust for purposes of funding City-wide retiree health care costs. Each employee will make direct contributions to the trust in the amounts described below.  Tier 1 and Tier 2 retiree medical = $100/month  Tier 3 retiree medical – no contribution to OPEB trust Employer and employee contributions are made to a CalPERS retiree medical trust. This money and earnings from this money may only be spent on retiree medical benefits and, to that extent, is a protected program. Employee contributions to the Trust shall be discontinued upon full funding of the City’s actuarial liability for retiree medical costs.

Establishment of a Trust. The City established a Trust for purposes of funding City-wide retiree health care costs. Each employee will make direct contributions to the trust in the amounts described below.  : Tier 1 and Tier 2 retiree medical = $100/month  Tier 3 retiree medical – no contribution to OPEB trust Employer and employee contributions are made to a CalPERS retiree medical trust. This money and earnings from this money may only be spent on retiree medical benefits and, to that extent, is a protected program. Employee contributions to the Trust shall be discontinued upon full funding of the City’s actuarial liability for retiree medical costs.