Common use of INSURANCE AND RETIREMENT BENEFITS Clause in Contracts

INSURANCE AND RETIREMENT BENEFITS. A. The College shall provide insurance, leave, and retirement benefits in accordance with the applicable statutes and regulations governing Washington State employee benefits, funded through the state and in accordance with the rules and regulations governing the College. The Human Resources Office shall communicate benefit eligibility to all full-time and part-time faculty. Eligible full-time and part-time faculty members have several options from which to select and include in a benefits package. Insurance plans are available for medical/dental, life, accidental death and dismemberment, and long-term disability. Retirement savings programs such as tax-sheltered annuities, deferred compensation, and other savings programs are available for eligible employees who apply. B. The College will provide the maximum employer contribution, per month, for eligible employees towards available insurance and retirement plans, in accordance with the laws and regulations of the State of Washington. C. Employees will be required to make a monthly contribution, according to their selected insurance and/or retirement plan. Such contributions shall be made through payroll deduction. Premiums and/or contribution rates are determined by the Washington State Health Care Authority, the State Board for Community and Technical Colleges, and applicable laws and regulations of the State of Washington. D. All insurance and retirement benefits shall remain in effect during periods when the employee is on paid leave. Employees have the opportunity to self-pay such premiums during approved leaves without pay in accordance with applicable laws and regulations. E. Full-time and part-time faculty who are eligible to accrue sick-leave are eligible to participate in a Voluntary Employees’ Beneficiary Association (VEBA) trust upon retirement. Participation in VEBA is dependent upon the outcome of an annual vote as outlined in college policy.

INSURANCE AND RETIREMENT BENEFITS. A. The College shall provide insurance, leave, and retirement benefits in accordance with the applicable statutes and regulations governing Washington State employee benefits, funded through the state and in accordance with the rules and regulations governing the College. The Human Resources Office shall communicate benefit eligibility to all full-time and part-time faculty. Eligible full-time and part-time faculty members have several options from which to select and include in a benefits package. Insurance plans are available for medical/dental, life, accidental death and dismemberment, and long-term disability. Retirement savings programs such as tax-sheltered annuities, deferred compensation, and other savings programs are available for eligible employees who apply. B. The College will provide the maximum employer contribution, per month, for eligible employees towards available insurance and retirement plans, in accordance with the laws and regulations of the State of Washington. C. Employees will be required to make a monthly contribution, according to their selected insurance and/or retirement plan. Such contributions shall be made through payroll deduction. Premiums and/or contribution rates are determined by the Washington State Health Care Authority, the State Board for Community and Technical Colleges, and applicable laws and regulations of the State of Washington. D. All insurance and retirement benefits shall remain in effect during periods when the employee is on paid leave. Employees have the opportunity to self-pay such premiums during approved leaves without pay in accordance with applicable laws and regulations. E. Full-time and part-time faculty who are eligible to accrue sick-sick leave are eligible to participate in a Voluntary Employees’ Beneficiary Association (VEBA) trust upon retirement. Participation in VEBA is dependent upon the outcome of an annual vote as outlined in college policy.