Voluntary Employee Benefit Association Sample Clauses

Voluntary Employee Benefit Association. It is agreed that should the Oregon Teamster Employer Trust allow additional contributions on behalf of employees under provisions of IRS 501.C9, the parties shall meet to negotiate a fair and equitable resolution to allow such contributions. It is understood that all contributions would come from payroll deductions from employees who would choose by majority vote to participate in this additional coverage.
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Voluntary Employee Benefit Association. Section 13.2.1 (If agreed to by MEA members) A monthly contribution will be deducted from each member’s salary by the District to be placed in a Voluntary Employee Benefit Association (VEBA) account. This is in addition to the optional VEBA conversion of sick days when an employee qualifies. The contribution rate will stay the same unless MEA members vote to change it. An annual vote by the MEA is required to renew these provisions.
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Voluntary Employee Benefit Association. (VEBA) Effective January 1, 2014, the City will contribute $50 per month to the VEBA specified by Local 2898 for employees covered by this Agreement who are not entitled to disability leave under State Statute RCW 41.26.
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Voluntary Employee Benefit Association. (VEBA) The employer shall make available to eligible employees a VEBA plan to allow employees, upon separation from service due to retirement or death or eligible annual sick leave cash out, to convert sick leave into a medical reimbursement plan pursuant to applicable WACs, RCWs, and the employer's policy and procedures. The employer will provide each eligible employee with the paperwork and inform eligible employees of the process for participation in the Plan complying with the applicable law. Participation in VEBA will automatically renew each year. However, if one or more members are eligible to retire, the union may conduct a vote in October to determine participation for the following year. The union will notify Human Resources in writing by December 31 if they choose not to participate in the VEBA plan the following year.
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Voluntary Employee Benefit Association. The Borough shall maintain and manage a Voluntary Employee Beneficiary Association (VEBA) plan for the benefit of the Officers. On a voluntary basis, each Officer can enroll in this plan. In order to enroll, the Officer must pay $2,000 into the plan prior to retirement. The plan will pay $250.00 per month towards medical insurance coverage to any Officer who retires prior to the age of 65. The payment will be made until such time as the Officer becomes Medicare eligible or until the Officer reached the age of 65, whichever occurs first.
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Voluntary Employee Benefit Association. (VEBA) "Eligible employees" for purposes of this section shall be defined as those members of the bargaining unit who have successfully completed their initial probationary period. The City has adopted a HRA-VEBA account with the HRA-VEBA Trust to receive contributions of eligible IAFF employees. For employees who elect to enroll in the PPO or Kaiser plan, the City will contribute $90 per month for each eligible employee to the IAFF VEBA. For those employees who elect to enroll in the HDHP, City contributions ($90/month) to the HRA-VEBA will be made instead to the City Deferred Compensation Plans (457) and the employee contributions to the HRA-VEBA will be suspended.
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Voluntary Employee Benefit Association. (VEBA) Effective August 1, 2003, there shall be a program titled VEBA es- tablished as a part of the WTWT, for the purpose of providing the means for pre-funding, in part, the WTWT retiree’s self pay rates for Retiree Health and Welfare Benefits. The funding of the VEBA Benefit shall be derived from the diversion of $100.60 per month from each contribution paid on behalf of each active employee, Em- ployer contributions, earned income on reserve investments, and the transfer of present retiree reserves into the VEBA account. Contri- butions shall be credited to each individual employee on behalf of who such contributions are remitted for purposes of determining benefit eligibility. A detailed explanation of benefit amounts and eligibility requirements will be made available to all participants. The contribution level necessary to fund the Retirees Benefits shall be determined from time to time by the WTWT Trustees. It is ac- knowledged by the bargaining parties that the granting of credits under the VEBA program has been suspended by the Board of Trustees of the WTWT and that the $100.60 being contributed under this provision is currently being used to offset ongoing retiree costs.
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Voluntary Employee Benefit Association. The Board will establish and maintain the Xxxxxxxx County Schools 501(c)9 Voluntary Employee Benefit Association (“VEBA”) that has separate Retirement Restructuring, Retirement and Active at work (“Active”) accounts. The School Corporation will pay for any annual VEBA fee(s) for any teacher participating in the VEBA up to a maximum of Twenty Dollars ($20.00) per year.
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Related to Voluntary Employee Benefit Association

  • Other Employee Benefit Plans During the Employment Period, except as otherwise expressly provided herein, the Executive shall be entitled to participate in all compensation, incentive, employee benefit, welfare and other plans, practices, policies and programs and fringe benefits on a basis no less favorable than that provided to any other executive officer of the Company.

  • Employee Benefits; ERISA (a) Schedule 4.17 contains a true and complete list of each material bonus, deferred compensation, incentive compensation, stock purchase, stock option, severance, change-in-control, or termination pay, hospitalization or other medical, life or other insurance, supplemental unemployment benefits, profit sharing, pension, or retirement plan, program, agreement or arrangement, and each other material employee benefit plan, program, agreement or arrangement, sponsored, maintained or contributed to or required to be contributed to by any Conveyed Entity, any Subsidiary thereof or by any trade or business, whether or not incorporated (an "ERISA Affiliate"), that together with any Conveyed Entity would be deemed a "single employer" within the meaning of Section 4001(b)(1) of ERISA, for the benefit of any employee or former employee of any Conveyed Entity, Subsidiary thereof or any ERISA Affiliate (the "Plans"). Schedule 4.17 identifies each of the Plans that is an "employee welfare benefit plan," or "employee pension benefit plan" as such terms are defined in Sections 3(1) and 3(2) of ERISA (such plans being hereinafter referred to collectively as the "ERISA Plans"). No Conveyed Entity, Subsidiary thereof or any ERISA Affiliate has any formal plan or commitment, whether legally binding or not, to create any additional Plan or modify or change any existing Plan that would affect any employee or former employee of any Conveyed Entity, any Subsidiary thereof or any ERISA Affiliate except to the extent that any such creation, modification or change could not, individually or in the aggregate, reasonably be expected to result in a material liability of a Conveyed Entity or any of its Subsidiaries.

  • Employee Benefit Plans and Compensation (a) For purposes of this Section 2.22, the following terms shall have the meanings set forth below:

  • Other Employee Benefits In addition to the foregoing, during the Employment Term, the Employee will be entitled to participate in and to receive benefits as a senior executive under all of the Company’s employee benefit plans, programs and arrangements available to senior executives, subject to the eligibility criteria and other terms and conditions thereof, as such plans, programs and arrangements may be duly amended, terminated, approved or adopted by the Board from time to time.

  • EMPLOYEE BENEFIT PROGRAM (i) During the TERM, the EMPLOYEE shall be entitled to participate in all formally established employee benefit, bonus, pension and profit-sharing plans and similar programs that are maintained by the EMPLOYERS from time to time, including programs in respect of group health, disability or life insurance, reimbursement of membership fees in civic, social and professional organizations and all employee benefit plans or programs hereafter adopted in writing by the Boards of Directors of the EMPLOYERS, for which senior management personnel are eligible, including any employee stock ownership plan, stock option plan or other stock benefit plan (hereinafter collectively referred to as the "BENEFIT PLANS"). Notwithstanding the foregoing sentence, the EMPLOYERS may discontinue or terminate at any time any such BENEFIT PLANS, now existing or hereafter adopted, to the extent permitted by the terms of such plans and shall not be required to compensate the EMPLOYEE for such discontinuance or termination.

  • Employee Benefits Plans Schedule 6.11 hereto identifies each ERISA Plan as of the Closing Date. No ERISA Event has occurred or is reasonably expected to occur with respect to an ERISA Plan. No Controlled Group member has failed to make a required material installment or other required material payment under Section 412(a) of the Code on or before the due date or within a reasonable time after such due date. No Controlled Group member has failed to make contributions to an ERISA Plan that is a Multiemployer Plan in accordance with the applicable governing documents which is reasonably likely to result in a material liability to the Controlled Group member. No Benefit Plan (other than a Multiemployer Plan) has any accumulated funding deficiency (as defined in Section 412(a) of the Code). None of the Companies have adopted or plans to adopt any amendments that could reasonably result in a material increase in the cost of providing benefits under the ERISA Plan. With respect to each ERISA Plan (other than a Multiemployer Plan) that is intended to be qualified under Code Section 401(a), (a) the ERISA Plan and any associated trust operationally comply (or as soon as reasonably practicable are corrected to comply) with the applicable requirements of Code Section 401(a); (b) the ERISA Plan and any associated trust have been amended to comply with all such requirements as currently in effect, other than those requirements for which a retroactive amendment can be made within the “remedial amendment period” available under Code Section 401(b) (as extended under Treasury Regulations and other Treasury pronouncements upon which taxpayers may rely); (c) the ERISA Plan and any associated trust have received a favorable determination letter from the Internal Revenue Service stating that the ERISA Plan qualifies under Code Section 401(a), that the associated trust qualifies under Code Section 501(a) and, if applicable, that any cash or deferred arrangement under the ERISA Plan qualifies under Code Section 401(k), unless the ERISA Plan was first adopted at a time for which the above-described “remedial amendment period” has not yet expired; (d) the ERISA Plan currently satisfies the requirements of Code Section 410(b), subject to any retroactive amendment that may be made within the above-described “remedial amendment period”; and (e) no contribution made to the ERISA Plan is subject to an excise tax under Code Section 4972. With respect to any Pension Plan, the “accumulated benefit obligation” of Controlled Group members with respect to the Pension Plan (as determined in accordance with Statement of Accounting Standards No. 87, “Employees Accounting for Pensions”) does not exceed the fair market value of Pension Plan assets by an amount that would have a Material Adverse Effect. Each Foreign Employee Benefit Plan is in compliance in all material respects with all laws, regulations and rules applicable thereto and the respective requirements of the governing documents for Foreign Employee Benefit Plan. With respect to any Foreign Employee Benefit Plan, reasonable reserves have been established in accordance with local laws or prudent business practice or where required by ordinary accounting practices in the jurisdiction in which Foreign Employee Benefit Plan is maintained.

  • PART-TIME EMPLOYEE BENEFITS Regular part time employees shall be provided the opportunity to purchase benefits of one of the plans described in Article XVII, Sections B and C at the Employer plan’s premium cost. The Employer will pay the Employer’s monthly share of the premium cost at a ratio proportionate to the employee’s part time condition of employment contingent upon receipt of the employee’s yearly share of the employee’s premium.

  • Employee Benefits Matters promptly, and in any event within 5 days after a Responsible Officer becoming aware of any of the following, a written notice setting forth the nature thereof and the action, if any, that the Company or an ERISA Affiliate proposes to take with respect thereto:

  • Participation in Employee Benefit Plans The Executive shall be permitted during the Term, if and to the extent eligible, to participate in any group life, hospitalization or disability insurance plan, health program, or any pension plan or similar benefit plan of the Company, which is available generally to other senior executives of the Company.

  • Employees; Employee Benefit Plans (a) Section 3.11 of the Seasons Disclosure Schedule contains a true and complete list of each “employee benefit plan” (within the meaning of section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), including multiemployer plans within the meaning of ERISA section 3(37)), stock purchase, stock option, restricted stock, severance, employment, loan, change-in-control, fringe benefit, collective bargaining, bonus, incentive, deferred compensation and all other employee benefit plans, agreements, programs, policies or other arrangements, whether or not subject to ERISA (including any funding mechanism therefor now in effect or required in the future as a result of the transaction contemplated by this Agreement or otherwise) under which any current or former employee, director or independent contractor of Seasons or any of its Subsidiaries has any present or future right to benefits and under which Seasons or any of its Subsidiaries has any present or future liability. All such plans, agreements, programs, policies and arrangements shall be collectively referred to as the “Plans”.

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