Voluntary Employees’ Beneficiary Association. In accordance with state and federal law, agencies and employees in bargaining units may agree to form Voluntary Employees’ Beneficiary Association (tax-free medical spending accounts) funded by the retiree’s sick leave cash out. Voluntary Employees’ Beneficiary Association of employees covered by this Agreement will be implemented only by written agreement with the Union.
Voluntary Employees’ Beneficiary Association. 2.1 The Employer will provide to eligible employees covered by this Agreement a medical expense plan as authorized by RCW 41.04.340. The medical expense plan must meet the requirements of the Internal Revenue Code.
Voluntary Employees’ Beneficiary Association. 56.1 In accordance with state and federal law, the University and employees in the PSE bargaining units have agreed to form a Voluntary Employees’ Beneficiary Association (tax-free medical spending accounts) funded by a retiree’s sick leave cash out.
Voluntary Employees’ Beneficiary Association. (VEBA) In accordance with state and federal law, employees may agree to form a Voluntary Employees’ Beneficiary Association (VEBA), a tax-free medical spending account funded by the retiree’s sick leave cash out. A VEBA for employees covered by this Agreement will be implemented only by written agreement with the Union.
Voluntary Employees’ Beneficiary Association. (VEBA). VEBA is a tax- sheltered program where, upon retirement, Full-time Faculty will be paid one-fourth (1/4) of their hourly sick leave balance times their hourly rate, which will go toward qualified medical expenses. Adjunct Faculty will be paid one-fourth (1/4) of their sick leave balance times the rate on their step of the 35WW column of the Adjunct pay scale.
Voluntary Employees’ Beneficiary Association. In accordance with state and federal law, the employees in the bargaining units represented by the Association and the State agree to form a Voluntary Employees’ Beneficiary Association (VEBA) funded by the retiree’s sick leave cash out. Biennial elections regarding participation in the VEBA will be held by October 15 every other calendar year, beginning in 2015. The Agency shall provide the Association with a list of all eligible voters by September 15 every other calendar year, beginning in 2015.
Voluntary Employees’ Beneficiary Association. (VEBA). The Employer agrees to establish and maintain a VEBA plan for employees in this bargaining unit into which the full sick leave cash-out, as defined by Article 6.3.B.2, or the extra alternative leave cash-out, as defined by Article 6.3.A.2, will be placed upon retirement. The bargaining unit may vote participation in the VEBA on an annual basis. If a vote is to be conducted, the Association will request a list of eligible voters based on voting criteria established by the Association. The request should be received by the County’s Human Resources Department not later than September 1 to receive the list by October 1 (requests received after September 1 will be honored and the list provided as soon as possible). Election results must be provided to the Human Resources Department no later than October 31st. The outcome of the election will be effective on January 1 of the following year.
Voluntary Employees’ Beneficiary Association. (VEBA). The City will establish a Health Reimbursement Arrangement account, Voluntary Employees’ Beneficiary Association (hereinafter VEBA) plan, under Section 501 (c)(9) of the Internal Revenue Code for each employee who is eligible for one of the City’s health insurance plans as described in 11.2 AFSCME members, as a group, may vote to make monthly contributions via payroll deduction to their VEBA account. The amount of the VEBA contribution may be adjusted by a majority vote of Union members, no more than once per year, and with appropriate notice to the Employer. In addition to the opportunity to review this program during successor negotiations to the current 2016-2018 Collective Bargaining Agreement, either party may re-open the provisions of this VEBA arrangement for the purposes of evaluating compliance with the “excise tax on high value coverage” (aka: “Cadillac Tax”) provisions of the Patient Protection and Affordable Care Act. It is the expressed intention of the parties to ensure that the HRA/VEBA benefit does not create an excise tax burden for the Employer. The parties agree that the reopening of such negotiations shall not give either party the right to reopen or demand reopening of negotiations on any other terms or provisions of this agreement not affected by such mandate or related to the employer’s liability to pay the Cadillac tax. No later than January 15, 2016, for all employees eligible and enrolled in health insurance from the City, the Employer shall make a one-time lump-sum deposit in an amount equal to three years’ estimated deductibles based on the Regence HealthFirst 250 plan, regardless of which plan is selected during open enrollment. Contributions shall be based on the number of dependents enrolled during the “open enrollment” period occurring in the autumn of 2015: Employee Tier EE only EE and 1 Dependent EE and 2+ Dependents VEBA Contribution $750 $1,500 $2,250
Voluntary Employees’ Beneficiary Association. (VEBA) Effective January 1, 2019, the City shall make monthly contributions to a medical savings account Voluntary Employees’ Beneficiary Association (hereinafter VEBA) plan, under Section 501 (c) (9) of the Internal Revenue Code, for each employee of the Association who is eligible for, and enrolls in, one of the NFRA Health Insurance Plans listed below in the following amounts:
Voluntary Employees’ Beneficiary Association. (VEBA) Contribution. In lieu of Management Leave, the City will contribute annually the equivalent of 64 hours of pay to the employee’s VEBA account. The initial contribution will be paid in the pay period following establishment of the VEBA and no later than the second pay period of the year for successive years.
