Common use of Retiree Health Care Fund Clause in Contracts

Retiree Health Care Fund. The Employer shall begin to immediately pre-fund the Retiree Health Care Plan by establishing a separate fund called the "Retiree Health Care Fund." The Employer shall annually budget sufficient funds to contribute to the Retiree Health Care fund, based upon the actuarially determined amount to be reserved for the future cost of retiree health care premiums. All employees hired prior to September 13, 2005 are required to contribute three (3%) percent of their bi-weekly base pay to this fund. Such monies shall be deposited into the "Retiree Health Care Fund" to fund future health care benefits for the retiree, spouse and *eligible dependents. If the employee quits or leaves County employment for any reason prior to becoming eligible for retirement benefits and/or retiree health care benefits, the employee shall be refunded the amount the employee has contributed to the Retiree Health Care Fund, along with the accumulated interest thereon as determined by the Employer. Effective September 13, 2005, new hires and those employees who are on the payroll but not eligible to participate in the Retiree Health Care Plan will not be required to contribute to the Retiree Health Care Fund.

Retiree Health Care Fund. The Employer shall begin to immediately pre-fund the Retiree Health Care Plan by establishing a separate fund called the "Retiree Health Care Fund." The Employer shall annually budget sufficient funds Effective September 2, 2005, new hires and those employees who are on the payroll but not presently eligible to participate in the program, will not be required to contribute to the Retiree Health Care fund, based upon the actuarially determined amount to be reserved for the future cost of retiree health care premiumsFund. All employees Employees who were hired prior to September 132, 2005 are required to contribute three (3%) percent of their bi-weekly base pay to this the fund. Such monies shall be deposited into the "Retiree Health Care Fund" to fund future health care benefits for the retiree, spouse and *eligible dependents. If the employee quits or leaves County employment for any reason prior to becoming eligible for retirement benefits and/or retiree health care benefits, the employee shall be refunded the amount the employee has contributed to the Retiree Health Care Fund, along with the accumulated interest thereon as determined by the Employer. Effective September 13, 2005, new hires and those employees who are on the payroll but not eligible to participate in the Retiree Health Care Plan will not be required to contribute to the Retiree Health Care Fund.