Post Employment Health Savings Plan Sample Clauses

Post Employment Health Savings Plan. The Village
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Post Employment Health Savings Plan. The Village agrees to provide a health insurance savings account for its employeesunion members. In accordance with the Internal Revenue Service Code, and all applicable federal and state statues, the savings account will allow the Village to make contributions and enable employees union members to accumulate reserves, which could be drawn upon, free of federal and state income taxes, to make permitted medical payments including premiums for health insurance upon separation from service or retirement with the Village. The Village agrees to contribute three quarters of one percent (.75%) of the employee’s union member’s May 1st (of each year) base salary into each employees union member’s account by May 15th of each year. The Village will deposit accumulated sick leave amounts into the employee’s union member’s health insurance retirement account in accordance with the terms of Section 13.7

Related to Post Employment Health Savings Plan

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