Retirement VEBA. Each bargaining unit will conduct a vote to determine whether to participate in a Health Reimbursement Account (HRA) Voluntary Employee Benefits Association (VEBA) to provide post-retirement medical expense benefits to members who retire from City service.
Retirement VEBA. The Retirement VEBA may only be accessed upon severance from employment with the School Corporation. The Board will contribute 1.125% of the teacher’s regular salary to this qualified VEBA plan. This contribution will be made on no less than a monthly basis. This contribution shall be deposited into a Retirement VEBA account separate from the Retirement Restructuring VEBA. The teachers shall be 100% immediately vested in these contributions upon separation from employment and may access his/her Retirement VEBA account at that time.
