Common use of HRA VEBA Clause in Contracts

HRA VEBA. The City shall provide yearly contributions of $1,200 to the Health Reimbursement Account (HRA VEBA) of each employee distributed quarterly. Any funds not utilized by an employee in a calendar year remain available in subsequent years. The funds accumulated during employment shall be available for qualified expenses after an employee leaves employment with the City. New employees shall receive a pro-rated amount based on their date of hire.

HRA VEBA. The City shall provide yearly contributions of $1,200 to the Health Reimbursement Account (HRA VEBA) of each employee distributed quarterlyemployee. One-half of the contributions shall be deposited by the second week of January of each year and one-half of the contribution shall be deposited by the second week of July of each year. Any funds not utilized by an employee in a calendar year remain available in subsequent years. The funds accumulated during employment shall be available for qualified expenses after an employee leaves employment with the City. New employees shall receive a pro-rated amount based on their date of hire.