Retirement Savings VEBA Plan. A. The school corporation shall contribute to a voluntary employees' beneficiary association ("VEBA") as described in section 501 (c)(9) of the Code. The Board agrees to contribute one and one quarter percent (1.25%) of the teacher’s annual salary plus a one time $l00 deposit into each teacher’s account.
B. The Board shall make equal monthly contributions throughout the school year, and will complete its contributions on or before August 1 of each succeeding year. There will be no commingling of accounts and each employee may determine how his or her account shall be invested among the investment options made available by the investment vendor for the VEBA Plan.
C. Each bargaining unit member is considered vested in these individual VEBA accounts upon signing the sixth contract with the corporation.
Retirement Savings VEBA Plan. 1. The school corporation shall contribute to a voluntary employees’ beneficiary association (“VEBA”) as described in section 501(c)(9) of the Code. The Board agrees to contribute one and one half percent (1.5%) of the teacher’s base pay plus a one-time $100 deposit with the first contribution when the teacher’s VEBA is started. Payments will be made each pay period.
2. There will be no commingling of accounts and each employee may determine how his or her account shall be invested among the investment options made available by the investment vendor for the VEBA Plan.
3. Each bargaining unit member shall be 100% vested in these individual VEBA accounts upon signing the sixth (6th) consecutive contract with the corporation. If a bargaining member xxxxxx employment with the Corporation prior to signing the sixth (6th) consecutive contract with the Corporation, the account is forfeited and assets will be used by the Corporation to pay future obligations to the vendor.
Retirement Savings VEBA Plan. The school corporation shall contribute to a voluntary employees' beneficiary association ("VEBA") as described in section 50l(c) (9) of the Code. ·
Retirement Savings VEBA Plan. A. The school corporation shall contribute to a voluntary employees' beneficiary association ("VEBA") as described in section 501 (c) (9) of the Code. The Board agrees to contribute one and seventy-five one hundredths of a percent (1.75%) of the teacher’s base pay (without adjustment for any extra-curricular pay) to the individual’s VEBA as follows: a) Medical expense reimbursement account – annually $125.00, and b) Health insurance premium account – annually 1.75% of a teacher’s base pay (without adjustment for any extra-curricular pay) minus $125.00. The Board contribution under this provision shall be immediately vested and portable.
B. The Board shall make equal monthly contributions throughout the school year, and will complete its contributions on or before September 1 of each succeeding year. There will be no commingling of accounts and each employee may determine how his or her account shall be invested among the investment options made available by the investment vendor for the VEBA Plan. The single investment vendor for the VEBA plan shall be determined through a mutual agreement between PEA and the Board.
C. Upon deposit each participant is considered immediately vested in these individual VEBA accounts.
Retirement Savings VEBA Plan. 1. The School Corporation shall contribute to a Voluntary Employees' Beneficiary Association ("VEBA") as described in section 501(c)(9) of the Code.
2. Effective with the 2004-2005 school year, the Board agrees to contribute an amount equal to One Percent (1%) of each bargaining unit member’s base salary into each individual’s separate VEBA account. This includes all bargaining unit members regardless of when they were first hired by the School Corporation. The Board shall make equal monthly contributions throughout the school year, and will complete its contributions on or before August 1st of each succeeding year. There will be no commingling of accounts and each employee may determine how his or her account shall be invested among the investment options made available by the investment vendor for the VEBA plan. The single investment vendor for the VEBA plan shall be mutually agreed upon by the Board and the Association.
3. Each bargaining unit member shall be Twenty Percent (20%) vested in these individual 401(a) accounts per year to One Hundred Percent (100%) upon the completion of his/her fifth (5th) year of continuous employment with the Corporation.
4. Any forfeited amounts shall be returned to the School Corporation.
Retirement Savings VEBA Plan. 1. The School Corporation shall contribute to a Voluntary Employees' Beneficiary Association ("VEBA") as described in Section 501(c)(9) of the Code.
2. The Board agrees to contribute One Percent (1%) for all Employees including those hired after July 1, 2004. The Board shall make ten (10) equal payments beginning in September, throughout the school year, and will complete its contributions on or before August 1st of each succeeding year. There will be no commingling of accounts and each Employee may determine how his or her account shall be invested among the investment options made available by the investment vendor for the VEBA plan. The single investment vendor for the VEBA plan shall be mutually agreed upon by the Board and the Association.
3. Each bargaining unit member shall be Twenty Percent (20%) vested in these individual VEBA accounts per year to One Hundred Percent (100%) upon the completion of his/her fifth (5th) year of continuous employment with the Corporation. In addition, all certified staff shall be fully vested in the VEBA accounts upon death, unless law or regulations enacted after November 1, 2007 cause such provision to have adverse tax or legal consequences.
4. Any forfeited amounts shall not be returned to the School Corporation. Instead, forfeited amounts shall be reallocated equally at the end of each plan year only among the then remaining separate VEBA plan accounts.
Retirement Savings VEBA Plan. (After 2004 hire date)
A. The school corporation shall contribute to a voluntary employees’ beneficiary association (“VEBA”) as described in Section 501(c)(9) of the Code as follows: For teachers hired after June 30, 2004, the Board agrees to contribute into each individual’s separate VEBA account one half of one percent (.5%). The Board shall make equal monthly contributions throughout the school year, and will complete its contributions on or before August 1 of each succeeding year. There will be no commingling of accounts and each employee may determine how his or her account shall be invested among the investment options made available by the investment vendor for the VEBA Plan. The single investment vendor for the VEBA Plan shall be the ISTA Financial Services Corporation. Each bargaining unit member is considered 100% vested in these individual VEBA accounts.
Retirement Savings VEBA Plan. A. The school corporation shall contribute to a voluntary employees' beneficiary association ("VEBA") as described in section 501 (c) (9) of the Code. The Board agrees to contribute one and fiteen one hundredths of a percent of the teacher’s base salary to the invidual’s VEBA as follows: a) Medical expense reimbursement account – annually $125.00, and b) Health insurance premium account – annually 1.15% of a teacher’s base pay (without 518 adjustment for any extra-curricular pay) minus $125.00 until December 31, 2019.
B. Beginning January 1, 2020, the Board agrees to contribute one and seventy-five one hundredths of a percent (1.75%) of the teacher’s base pay (without adjustment for any extra-curricular pay) to the individual’s VEBA as follows: a) Medical expense reimbursement account – annually $125.00, and b) Health insurance premium account – annually 1.75% of a teacher’s base pay (without adjustment for any extra-curricular pay) minus $125.00. The Board contribution under this provision shall be immediately vested and portable.
C. The Board shall make equal monthly contributions throughout the school year, and will complete its contributions on or before September 1 of each succeeding year. There will be no commingling of accounts and each employee may determine how his or her account shall be invested among the investment options made available by the investment vendor for the VEBA Plan. The single investment vendor for the VEBA plan shall be determined through a mutual agreement between PEA and the Board.
D. Upon deposit each participant is considered immediately vested in these individual VEBA accounts.
Retirement Savings VEBA Plan. A. The school corporation shall contribute to a voluntary employees' beneficiary association ("VEBA") as described in section 501 (c) (9) of the Code. The Board agrees to contribute one and seventy-five one hundredths of a percent (1.75%) of the teacher’s base pay (without adjustment for any extra-curricular pay) to the individual’s VEBA as follows:
a) Medical expense reimbursement account – annually $805.00 and an additional one-time contribution of $193.00 for the 2023-2024 school year.
b) Health insurance premium account – annually 1.75% of a teacher’s base pay (without adjustment for any extra-curricular pay) minus $805.00. The Board contribution under this provision shall be immediately vested and portable.
B. The Board shall make equal monthly contributions throughout the school year, and will complete its contributions on or before September 1 of each succeeding year. There will be no commingling of accounts and each employee may determine how his or her account shall be invested among the investment options made available by the investment vendor for the VEBA Plan. The single investment vendor for the VEBA plan shall be determined through a mutual agreement between PEA and the Board.
C. Upon deposit each participant is considered immediately vested in these individual VEBA accounts.
Retirement Savings VEBA Plan. A. The school corporation shall contribute to a voluntary employees' beneficiary association ("VEBA") as described in section 501 (c)(9) of the Code. The Board agrees to contribute one half of one percent (.5%) of the teacher’s base pay plus a one-time $200 deposit. The Board shall make equal monthly contributions throughout the school year, and will complete its contributions on or before August 1 of each succeeding year. There will be no commingling of accounts and each employee may determine how his or her account shall be invested among the investment options made available by the investment vendor for the VEBA Plan.
B. Each bargaining unit member is considered vested in these individual VEBA accounts upon signing the sixth contract with the corporation. The foregoing notwithstanding, teachers that must end employment due to a Reduction in Force shall be considered fully vested and entitled to all of the benefits of this article. Committee Team Leaders 5 $1,287 $6,435.00 Special Ed Committee Team Leader 1 $1287 $1287.00 Senior Class Sponsor 2 $1,056 $2,112.00 Junior Class Sponsor 2 $1,533 $3,066.00 Sophomore Class Sponsor 2 $237 $474.00 Freshman Class Sponsor 2 $237 $474.00 Drama Fall 1 $2,482 $2,482.00 Drama Spring 1 $3,291 $3,291.00 Pit Orchestra 1 $946 $946.00 Band Director 1 $3,291 $3,291.00 Band Assistant 1 $784 $784.00 Summer Band Camp Aide 1 $428 $428.00 Summer Band 1 $1,073 $1,073.00 Choral Director 1 $2,407 $2,407.00 Choral Assistant 1 $589 $589.00 Choral Accompanist 1 $750 $750.00 Yearbook 1 $1,675 $1,675.00 Cheerleader Coach 1 $1,914 $1,914.00 Asst. Cheerleader Coach 1 $1,073 $1,073.00 Student Council 2 $783 $1,566.00 FBLA 1 $865 $865.00 Art Club 1 $895 $895.00 Spanish Club 1 $703 $703.00 FFA/Greenhand 2 $3,147 $6,294.00 National Xxxxx Xxxxxxx 1 $542 $542.00 FCCLA 1 $542 $542.00 Academic Team Sponsor 2 $542 $1,084.00 SNSAD 1 $747 $747.00 Color Guard 1 $800 $800.00 8th Grade Class Sponsor 1 $268 $268.00 7th Grade Class Sponsor 1 $268 $268.00 6th Grade Class Sponsor 1 $268 $268.00 Cheerleader Coach Grade 7/8 1 $918 $918.00 Asst. Cheerleader Coach 1 $642 $642.00 6th Grade Cheerleader Coach 1 $428 $428.00 Student Council 2 $476 $952.00 FFA 1 $1,823 $1,823.00 SNSAD 1 $412 $412.00 Drill Team 1 $237 $237.00 Academic Team Sponsor 1 $542 $542.00 Middle School National Honor Soc. 1 $274 $274.00 MS Yearbook 1 $642 $642.00 MS Art Club 1 $642 $642.00 Lead Teachers 9 $642 $5778.00 Honor Choir 1 $642 $642.00 Art Club 1 $642 $642.00 Science Lab 1 $627 $627....
