Common use of Retirement Savings VEBA Plan Clause in Contracts

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. A. a. The school corporation School Corporation shall contribute to a voluntary employees' ’ beneficiary association ("“VEBA"”) as described in section 501 (c)(9501(c)(9) of the Code. The For all Teachers the Board agrees to contribute one and half of one quarter percent (1.25.5%) of the teacher’s annual salary plus a one time $l00 deposit into each teacherindividual’s VEBA 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. plan. Each bargaining unit member is considered shall be 100% vested in these individual VEBA accounts upon signing the sixth contract with the corporation.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 half of one quarter percent (1.25.5%) of the teacher’s annual salary base pay plus a one time $l00 deposit into each teacher’s account. B. 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. The single investment vendor for the VEBA plan shall be ISTA Financial Services Corporation. C. B. Each bargaining unit member is considered vested in these individual VEBA accounts upon signing the sixth contract with the corporation.

Retirement Savings VEBA Plan. A. The school corporation shall contribute to a voluntary employees' beneficiary association ("VEBA") as described in section 501 (c)(9c) (9) of the Code. The Board agrees to contribute three quarters of one and one quarter percent (1.250.75%) of the teacher’s annual salary plus a one time $l00 deposit into each teacher’s teachers 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.