Allocation of responsibility definition

Allocation of responsibility. The City assumes no responsibility for the tax or other consequences of any VEBA contributions made by or on behalf of any member for either the active or post- retirement options. Each union that elects to require VEBA contributions for the benefit of its members assumes sole responsibility for insuring that the VEBA complies with all applicable laws, including, without limitation, the Internal Revenue Code, and agrees to indemnify and hold the City harmless for any taxes, penalties and any other costs and expenses resulting from such contributions. Employees who are eligible to retire during the term of this Agreement have participated in a vote administered by the Union to determine if the Voluntary Employee Benefits Association (VEBA) benefit is offered to employees who elect to retire during the term of this Agreement. The VEBA benefit shall allow employees who retire from Library service to cash out their unused sick leave balance upon retirement and place it in a VEBA account to be used for post-retirement healthcare costs as allowed under IRS regulations. ● 5 – 9 years of service and age 62 or older ● 10 – 19 years of service and age 57 or older ● 20 – 29 years of service and age 52 or older ● 30 years of service and any age For purposes of identifying all potential eligible-to-retire employees, the City shall create a list of members who are in the City’s HRIS system as age 45 or older as of the final day of the previous contract term and provide this list to the Union upon request. Eligible-to-retire employees who retire from Library service during the term of this agreement, shall either: A. Place their sick leave cash-out at 35% into their VEBA account, or B. Forfeit the sick leave cash-out altogether. There is no minimum threshold for the sick leave cash- out. Employees are not eligible to deposit their sick leave cash-out into their deferred compensation account or receive cash.
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Examples of Allocation of responsibility in a sentence

  • There shall be no adjustments to the charges or rates under this Agreement or additional amounts payable under this Agreement except as specifically set forth in this Agreement, including this Schedule 1.0. Allocation of responsibility for taxes and certain other applicable fees and surcharges between the Parties is set forth in Section 6.5 of the Agreement.

  • Allocation of responsibility for the final remediation will be resolved by negotiation or litigation.

  • Allocation of responsibility to perform CMC Development for each Licensed Compound and Product (and each formulation and dosage form thereof) shall be allocated as determined by the JDC.

  • Allocation of responsibility for inspection and operation of the active warning devices at the Crossing and signage within the railroad right-of-way will be the subject of a separate agreement between the STATE and the railroad operator.

  • Allocation of responsibility for environmental liabilities pre-dating the date of this Lease shall be covered by that certain Agreement and Plan of Recapitalization and Merger dated as of May 11, 1999 by and between Motorola, SCI, SCG Holding, LLC, TPG Semiconductor Holdings Corp.

  • Allocation of responsibility for the costs of a capital expenditure among the member municipalities intended or expected to benefit from the expenditure shall, for purpose of any capital budget, be made in proportion to the most recent final equalized valuations of such municipalities as established pursuant to Chapter 58, section 10C, of the General Laws as of the time such capital budget is proposed by the District Board of Representatives.

  • Allocation of responsibility for Environmental Costs shall be governed by Ch. 70A.305 RCW, the Model Toxics Control Act.

  • Allocation of responsibility among Developer and the Successor Agency for Environmental Costs.

  • Allocation of responsibility to perform CMC Development for the Licensed Products shall be set out in the GDP.

Related to Allocation of responsibility

  • Area of responsibility means the geographical area, as

  • producer responsibility organisation means a legal entity that financially or financially and operationally organises the fulfilment of extended producer responsibility obligations on behalf of several producers;

  • Financial responsibility means the ability to respond in damages for liability thereafter incurred

  • Customer Responsibilities means the responsibilities of the Customer set out in the Contract Order Form or agreed in writing between the Parties from time to time in connection with this Contract ;

  • Corporate Social Responsibility means Corporate Social Responsibility (CSR) as defined in Section 135 of the Companies Act, 2013 and Companies Corporate Social Responsibility Policy) Rules, 2014;