Common use of 125 Flex Benefit Contribution Reduction Clause in Contracts

125 Flex Benefit Contribution Reduction. The Burbank Police Officers' Association agrees to annually reduce the City's 125 flex benefit contribution in order to cover the cost of the following: One and one-half percent (1.5%) of the affected employee’s salary to be placed in a Voluntary Employees Benefits Association (VEBA) in the name of the affected employee.

125 Flex Benefit Contribution Reduction. The Burbank Police Officers' Association agrees to annually reduce the City's 125 flex benefit contribution each pay period in order to cover the cost of the following: One and one-half percent (1.5%) of the affected employee’s salary to be placed in a Voluntary Employees Benefits Association (VEBA) in the name of the affected employee.