Common use of HRA VEBA Payment Upon Retirement Clause in Contracts

HRA VEBA Payment Upon Retirement. Bargaining unit members’ sick leave balance will be paid into the member’s HRA VEBA account. The value of the computation shall be determined based on the employee’s regular hourly rate of pay at the time of retirement. The City payment to HRA VEBA on the employee’s behalf shall reflect payment for all hours of sick leave unused at the time of retirement.

HRA VEBA Payment Upon Retirement. Bargaining unit members’ sick leave balance will be paid into the member’s HRA VEBA account. The value of the computation shall be determined based on the employee’s regular hourly rate of pay at the time of retirement. The City payment to HRA VEBA XXXX on the employee’s behalf shall reflect payment for all hours of sick leave unused at the time of retirement.