Common use of Retiree Health Care Fund Clause in Contracts

Retiree Health Care Fund. The Employer or its designee shall begin to immediately pre-fund the Retiree Health Care Plan by establishing a separate fund called the "Retiree Health Care Fund." Employees who are not eligible to participate in the Retiree Health Care Plan are not required to contribute to the Retiree Health Care Fund. Employees who were hired prior to August 28, 2007 are required to contribute three percent (3%) 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 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.

Retiree Health Care Fund. The Employer or its designee shall begin to immediately pre-fund the Retiree Health Care Plan by establishing a separate fund called the "Retiree Health Care Fund." Employees who are not eligible to participate in the Retiree Health Care Plan are not required to contribute to the Retiree Health Care Fund. Employees who were hired prior to August 28June 14, 2007 2005 are required to contribute three percent (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 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.