Common use of PEHP Clause in Contracts

PEHP. The District agrees to participate in a Post Employment Health Plan (PEHP) held within a VEBA, a tax-exempt legal entity established pursuant to Internal Revenue Code Section 501(c) (9) for bargaining unit members. Participation in the plan shall be in accordance with the terms and conditions of the Plan’s Participation Agreement. As of July 1, 2009, the plan provides that fifty percent (50%) of the value of an employee’s accrued and unused leave hours which are cashed out upon separation or retirement are to be deposited in the employee’s PEHP account for the purpose of receiving tax-free reimbursements for qualified medical insurance premium expenses. The bargaining unit reserves the right to annually modify the percent of the value of any accrued and unused leave hours that are to be contributed to an employee’s PEHP account upon separation.

PEHP. The District agrees to participate in a Post Post-Employment Health Plan (PEHP) held within a VEBA, a tax-exempt legal entity established pursuant to Internal Revenue Code Section 501(c) (9) for bargaining unit members. Participation in the plan shall be in accordance with the terms and conditions of the Plan’s Participation Agreement. As of July 1, 2009, the The plan provides that fifty percent (50%) of the value of an employee’s accrued and unused leave hours which are cashed out upon separation or retirement are to be deposited in the employee’s PEHP account for the purpose of receiving tax-free reimbursements for qualified medical insurance premium expenses and qualified out of pocket medical expenses. The bargaining unit reserves the right to annually modify the percent of the value of any accrued and unused leave hours that are to be contributed to an employee’s PEHP account upon separation.

PEHP. The District agrees to participate in a Post Employment Health Plan (PEHP) held within a VEBA, a tax-exempt legal entity established pursuant to Internal Revenue Code Section 501(c) (9) for bargaining unit members. Participation in the plan shall be in accordance with the terms and conditions of the Plan’s Participation Agreement. As of July 1, 2009, the theThe plan provides that fifty percent (50%) of the value of an employee’s accrued and unused leave hours which are cashed out upon separation or retirement are to be deposited in the employee’s PEHP account for the purpose of receiving tax-free reimbursements for qualified medical insurance premium expenses and qualified out of pocket medical expenses. The bargaining unit reserves the right to annually modify the percent of the value of any accrued and unused leave hours that are to be contributed to an employee’s PEHP account upon separation.