Other Post-Employment Benefits (OPEB. The City and Local 1909 recognize the need to fund retiree medical. As such, beginning with the pay period that includes July 1, 2018, employees represented by Local 1909 shall contribute one percent (1%) of base salary (excluding all special pays, allowances and overtime), to an irrevocable trust to fund the unfunded retiree medical obligations. The contribution made by employees to the trust fund shall be exclusively allocated for the expense of retiree healthcare of its members.This provision shall remain in effect until such time that a successor agreement has been negotiated.
Appears in 4 contracts
Samples: Memorandum of Understanding, Memorandum of Understanding, Memorandum of Understanding
