Voluntary Employee Benefits Account Sample Clauses

Voluntary Employee Benefits Account. (VEBA) The parties agree to negotiate a Supplemental Agreement regarding a VEBA that upon adoption and ratification shall be attached to and become a permanent part of this contract subject to the specifications therein.
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Voluntary Employee Benefits Account. To help offset the cost of premium contributions or other health insurance expenses elected by the employee, the City will contribute $900 annually ($75 per month) to a Voluntary Employee Benefits Account (VEBA) on behalf of each bargaining unit member, starting December 1, 2011. Effective January 1, 2021, the City will contribute $83.33 monthly ($1,000 per year) to a Voluntary Employee Benefits Account (VEBA) on behalf of each bargaining unit member. Should the excise tax provisions of the ACA or other legislation place the City in jeopardy of being charged for the program on an individual or citywide basis, the VEBA contributions would be converted to non-matching deferred compensation contributions. If such a change were needed, it would be at the start of a month and the city would provide at least thirty (30) days’ notice to the Association.
Voluntary Employee Benefits Account. (VEBA): In 2018, the City agrees to implement an Employee VEBA account and will make contributions to each Employee’s VEBA account at the following rate each year of the contract for all Local 270-S employees:  Effective 01/01/18 - $60 per month  Effective 01/01/19 - $70 per month  Effective 01/01/20 - $80 per month  Effective 01/01/21 - $90 per month For 2021, should the City’s financial situation deteriorate to the point where the VEBA contribution is unfeasible, the City reserves the right to invoke an opener to discuss the level of VEBA contribution.

Related to Voluntary Employee Benefits Account

  • Voluntary Employee Contributions (i) Subject to the governing rules of the relevant superannuation fund, an employee may, in writing, authorise their employer to pay on behalf of the employee a specified amount from the post- taxation wages of the employee into the same superannuation fund as the employer makes the superannuation contributions provided for in Clause 24(b).

  • Participation in Retirement and Employee Benefit Plans The Employee shall be entitled to participate in all plans relating to pension, thrift, profit-sharing, group life and disability insurance, medical and dental coverage, education, cash bonuses, and other retirement or employee benefits or combinations thereof, in which the Bank's executive officers participate.

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

  • Retirement Accounts With respect to certain retirement plans or accounts (such as individual retirement accounts (“IRAs”), SIMPLE IRAs, SEP IRAs, Xxxx IRAs, Education IRAs, and 403(b) Plans (such accounts, “Retirement Accounts”), the Transfer Agent, at the request and expense of the Fund, provide or arrange for the provision of various services to such plans and/or accounts, which services may include custodial agent services such as account set-up maintenance, and disbursements as well as such other services as the parties hereto shall mutually agree upon.

  • 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.

  • Continuation of Employee Benefits a) For an employee on lay-off the Company will provide and pay the premiums that are due in the six (6) calendar month period following the month of layoff for all the Employee Benefits as outlined in Article 24 excluding Weekly Indemnity, Sick Pay, and Long Term Disability Benefits and Accidental Death and Dismemberment.

  • Maintaining Eligibility for Employer Contribution The employer's contribution continues as long as the employee remains on the payroll in an insurance eligible position. Employees who complete their regular school year assignment shall receive coverage through August 31.

  • Voluntary Retirement Notwithstanding anything in this Section 2 to the contrary, the Participant’s Units shall be fully vested if the Participant is eligible to resign from employment with the Company and have that resignation treated as a Voluntary Retirement (as that term is defined in the Xxxxxxx Information Services Corporation Executive Voluntary Retirement Plan, or “EVRP”), provided the Participant satisfies all of the requirements of the EVRP to receive benefits under that plan.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • SIMPLE Individual Retirement Custodial Account (Under section 408(p) of the Internal Revenue Code) The participant named above is establishing a savings incentive match plan for employees of small employers individual retirement account (SIMPLE IRA) under sections 408(a) and 408(p) to provide for his or her retirement and for the support of his or her beneficiaries after death. The custodian named above has given the participant the disclosure statement required by Regulations section 1.408-6. The participant and the custodian make the following agreement:

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