Common use of VEBA Clause in Contracts

VEBA. The school corporation shall contribute to a voluntary employee’s beneficiary association (VEBA) as described in section 501 c (9) of the Code, that amount representing the present value of all benefits as calculated for all employees under Subsection B above. This benefit shall be deposited with the single investment vendor for the VEBA selected by the association and board. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation School Corporation shall contribute to a voluntary employee’s employees' beneficiary association ("VEBA) "), as described in section 501 c (9c)(9) of the Internal Revenue Code, that the amount representing over and above $2,000.00 as calculated by ESC as the present value of all benefits as calculated for all employees under Subsection B abovethe Retirement Severance, Social Security and Medicare Bridge Benefits for each individual teacher. This benefit shall be deposited with the The single investment vendor Vendor for the VEBA selected by Plan shall be the association and boardSecurity Benefit Indiana. The Additional terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation shall contribute to a voluntary employee’s employees’ beneficiary association (“VEBA”) as described in section 501 c (9501(c)(9) of the Code, that the amount representing the present value of all benefits the Retirement Pay as calculated for all employees under Subsection B subsection C above. This benefit shall be deposited with the single investment vendor for the VEBA selected by the association and board. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation shall contribute to a voluntary employee’s employees' beneficiary association ("VEBA") as described in section 501 c (9501(c)(9) of the Code, that twenty percent (20%) of the total amount representing of the present value of all benefits as calculated for all employees under Subsection B abovebuyout. This benefit Met Life shall be deposited with the organization administering the VEBA and shall be the single investment vendor for the VEBA selected by the association and boardVEBA. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation shall contribute contributed to a voluntary employee’s employees’ beneficiary association (“VEBA”) as described in section 501 c 501(c) (9) of the I.R.S. Code, that amount representing . The Board selected the present value of all benefits as calculated for all employees under Subsection B above. This benefit organization administering the VEBA and shall be deposited with the single investment vendor for the VEBA selected by the association and boardVEBA. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation shall contribute to a voluntary employee’s employees' beneficiary association ("VEBA") as described in section 501 c (9501(c)(9) of the Code, that amount representing the present value of all the group health insurance benefits as calculated for all employees under Subsection B aboveAppendix G of the Master Contract 2003-2006. This benefit VALIC shall be deposited with the organization administering the VEBA and shall be the single investment vendor for the VEBA selected by the association and boardVEBA. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation shall contribute to a voluntary employee’s 's beneficiary association ("VEBA") as described in section 501 c (9501(c)(9) of the Code, that amount representing the present value of all those benefits as calculated for all employees under Subsection B in Section C. Buyout of Retirements, 3. Actuarial Determination of Value of the Current Retirement and Severance Benefits, d. Retiree Health Insurance above. This benefit shall be deposited with the single investment vendor for the VEBA selected by the association and board. The terms and conditions for the administration and operations operation of the VEBA shall be as follows:

VEBA. The school corporation shall contribute to a voluntary employee’s employees' beneficiary association ("VEBA") as described in section 501 c (9501(c)(9) of the Code, that fifty percent (50%) of the amount representing the present value of all benefits the Retirement Pay as calculated for all employees under Subsection B subsection C above. This benefit shall be deposited with the single investment vendor for the VEBA selected by the association and board. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The According to the chart below, the school corporation shall contribute to a voluntary employee’s employees' beneficiary association ("VEBA") as described in section 501 c (9501(c)(9) of the Code, that a percentage of the amount representing the present value of all benefits the Retirement Pay as calculated for all employees under Subsection B subsection C above. This benefit shall be deposited with the single investment vendor for the VEBA selected by the association and board. The terms and conditions for the administration and operations of the VEBA shall be as follows:.

VEBA. The school corporation shall contribute to a voluntary employee’s employees' beneficiary association ("VEBA") as described in section 501 c (9501(c)(9) of the Code, that amount representing thirty percent (30%) of the present value of all benefits Retirement Bridge Benefit as calculated for all employees under Subsection B subsection 3 above. This benefit shall be deposited with the single investment vendor for the VEBA selected by the association and board. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation shall contribute Board contributed to a voluntary employee’s employees’ beneficiary association (“VEBA”) as described in section 501 c (9501(c)(9) of the Internal Revenue Code, that an amount representing the present value of all the group health insurance benefits and term life insurance as calculated for all employees teachers under Subsection subsection B aboveof this section. This benefit shall be deposited with The vendor administering the VEBA has been mutually determined by the Organization and the Board and serves as the single investment vendor for the VEBA selected by the association and boardVEBA. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation shall contribute to a voluntary employee’s 's beneficiary association ("VEBA") as described in section 501 c (9501(c)(9) of the Code, that amount representing the present value of all those benefits as calculated for all employees under Subsection B abovein Section 2. This benefit shall be deposited with the single investment vendor for the VEBA selected by the association and board. The terms and conditions for the administration and operations of the VEBA shall be as follows:C.

VEBA. The school corporation shall contribute to a voluntary employee’s employees’ beneficiary association (“VEBA”) as described in section 501 c (9501c(9) of the Code, that the amount representing the present value early retirement portion of all benefits the Retirement Benefit as calculated for all employees under Subsection B subsection C above. This benefit VALIC shall be deposited with the organization administering the VEBA and shall be the single investment vendor for the VEBA selected by the association and boardVEBA. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation shall contribute to a voluntary employee’s employees' beneficiary association ("VEBA") as described in section 501 c (950l(c)(9) of the Code, that amount representing the present value health care portion of all benefits the Retirement Benefit as calculated for all employees teachers under Subsection B subsection C above. This benefit ISTA Financial Services Corporation or a vendor mutually agreed to by the Corporation and the Bargaining Unit shall be deposited with the organization administering the VEBA and shall be the single investment vendor for the VEBA selected by the association and boardVEBA. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation School Corporation shall contribute to a voluntary employee’s employees’ beneficiary association (“VEBA”) as described in section 501 c (9501(c)(9) of the Code, that amount representing the present value of all the group health insurance benefits and term life insurance as calculated for all employees under Subsection B subsection 3 above. This benefit shall be deposited with the single investment vendor for the VEBA selected by the association and board. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation shall may contribute to a the voluntary employee’s employees’ beneficiary association (“VEBA”) as described in section 501 c (9501(c)(9) of the Code, that amount representing the present value health care portion of all benefits the Retirement Benefit as calculated for all employees under Subsection B subsection C above. This benefit shall be deposited with The organization administering the VEBA and serving as the single investment vendor for the VEBA selected shall only be changed by the association and boardmutual agreement. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation shall contribute to a voluntary employee’s beneficiary association (“VEBA”) as described in section 501 c (9501(c)(9) of the Code, that the amount representing of the “present value of all benefits value” as calculated at the time of this Buy Out Agreement for all employees under Subsection B above. This benefit shall be deposited with the single investment vendor for the VEBA selected by the association and boardeach individual employee. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation shall contribute to a voluntary employee’s 's beneficiary association ("VEBA") as described in section 501 c (9501(c)(9) of the Code, that the amount representing calculated by Educational Services Corporation as the present value of all benefits as calculated for all employees the individual’s health insurance amount accumulated under Subsection B above. This benefit shall be deposited with the single investment vendor for the VEBA selected by the association and board. The terms and conditions for the administration and operations of the VEBA shall be as follows:previous contract.

VEBA. The school corporation shall contribute to a voluntary employee’s beneficiary association Voluntary Employees’ Beneficiary Association (“VEBA”) as described in section 501 c (9501(c)(9) of the IRS Code, that amount representing amount, in accordance with the Plan selected, of the present value of all the retirement pay buy-out benefits as calculated for all employees each employee under Subsection B subsection C above. This benefit Security Benefit shall be deposited with the organization administering the VEBA and shall be the single investment vendor for the VEBA selected by the association and boardVEBA. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation School Corporation shall contribute to a voluntary employee’s beneficiary association Voluntary Employees’ Beneficiary Association (“VEBA”) as described in section 501 c (9501(c)(9) of the Code, that amount representing the present value of all the group health insurance benefits as calculated for all employees under Subsection B subsection 3. above. This benefit An agreed upon vendor, by the Board and the Association shall be deposited with the organization administering the VEBA and shall be the single investment vendor for the VEBA selected by the association and boardVEBA. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation shall contribute to a voluntary employee’s employees’ beneficiary association (“VEBA”) as described in section 501 c (9501(c)(9) of the Code, that fifty percent (50%) of the amount representing the present value of all benefits the Retirement Pay as calculated for all employees under Subsection B subsection C above. This benefit shall be deposited with the single investment vendor for the VEBA selected by the association and board. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation School Corporation shall contribute to a voluntary employee’s employees’ beneficiary association (“VEBA”) as described in section 501 c 501(c)(9)of the Internal Revenue Code (9the “Code”) of the Code, that amount representing the present value of all the group health insurance benefits as calculated for all employees teachers under Subsection B above. This benefit C. A committee of the Board and the Association shall be deposited with select the organization administering the VEBA and the single investment vendor for the VEBA selected by the association and boardVEBA. The School Corporation shall determine the terms and conditions for the administration and operations of the VEBA VEBA, except that the following shall be as followsapply:

VEBA. The school corporation shall contribute to a voluntary employee’s employees’ beneficiary association (“VEBA”) as described in section 501 c (9501(c)(9) of the Code, that amount representing the present value of all the group health insurance benefits as calculated for all employees under Subsection B subsection c above. This benefit The organization administering the VEBA account shall be deposited with the single investment vendor for the VEBA selected made by the association and boardmutual agreement. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation shall contribute to a voluntary employee’s employees’ beneficiary association (“VEBA”) as described in section 501 c (9501(c)(9) of the Code, that amount representing the present value of all the group health insurance benefits as calculated for all employees under Subsection B aboveAppendix G of the Master Contract 2003-2006. This benefit VALIC shall be deposited with the organization administering the VEBA and shall be the single investment vendor for the VEBA selected by the association and boardVEBA. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation School Corporation shall contribute to a voluntary employee’s employees’ beneficiary association (“VEBA) ”), as described in section 501 c (9501(c)(9) of the Internal Revenue Code, that thirty percent (30%) of the total sum of the amount representing calculated by FSC as the present value of all benefits as calculated for all employees under Subsection B above. This benefit shall be deposited with the single investment vendor for the VEBA selected by the association Retirement Pay and boardSeverance benefits for each individual teacher. The Additional terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation shall contribute to a voluntary employee’s employees’ beneficiary association (“VEBA”) as described in section 501 c (9501(c)(9) of the Code, that the amount representing the present value of all benefits the Retirement Pay as calculated for all employees under Subsection B subsection C above. This benefit The ISTA Financial Services Corporation shall be deposited with the organization administering the VEBA and shall be the single investment vendor for the VEBA selected by the association and boardVEBA. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation shall contribute to a voluntary employee’s employees’ beneficiary association (“VEBA) ”), as described in section 501 c (9501(c)(9) of the Code, that amount representing the present value of all the group health insurance benefits as calculated for all employees under Subsection B aboveas shown in Appendix III. This benefit The organization administering the VEBA account shall be deposited with the single investment vendor for the VEBA selected by the association and boardmutual agreement. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation School Corporation shall contribute to a voluntary employee’s employees' beneficiary association ("VEBA) "), as described in section 501 c (950l(c)(9) of the Internal Revenue Code, that amount representing the present value of all benefits the group health insurance benefits, as calculated for all employees under Subsection B using the assumptions to which the parties mutually agreed as set forth above. This benefit shall be deposited with the single investment vendor for the VEBA selected by the association and board. The Additional terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation shall contribute to a voluntary employee’s employees' beneficiary association ("VEBA") as described in section 501 c (9c)(9) of the Code, that amount representing thirty percent (30%) of the present value of all benefits Retirement Bridge Benefit as calculated for all employees under Subsection B subsection 3 above. This benefit shall be deposited with the single investment vendor for the VEBA selected by the association and board. The terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation School Corporation shall contribute to a voluntary employee’s employees’ beneficiary association (“VEBA) ”), as described in section 501 c (9501(c)(9) of the Internal Revenue Code, that amount representing the present value of all benefits the group health insurance benefits, as calculated for all employees under Subsection B aboveusing the assumptions to which the parties mutually agreed set forth in Appendix C attached hereto and incorporated herein. This benefit shall be deposited with the single investment vendor for the VEBA selected by the association and board. The Additional terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The school corporation shall contribute to a voluntary employee’s employees’ beneficiary association (“VEBA”) as described in section 501 c (9Section 501(c)(9) of the Code, that amount representing the present value of all the group health insurance benefits and term life insurance as calculated for all employees under Subsection B C above. This benefit The ISTA Financial Services Corporation shall be deposited with the organization administering the VEBA and shall be the single investment vendor for the VEBA selected by the association and boardVEBA. The terms and conditions for the administration and operations of the VEBA shall be as follows: