Sick Leave Cash Out Upon Retirement or Death. The University will provide a post- retirement medical expense plan (VEBA) that provides for reimbursement of medical expenses to eligible individuals. Instead of cash-out of sick leave on a one (1) hour for four (4) hour basis at retirement, the University shall deposit equivalent funds in the medical expense plan. The VEBA plan will remain in effect unless ten percent (10%) of eligible employees request (in writing) not later than October 1 of any year, that the University conduct a vote to consider discontinuing VEBA.
Appears in 3 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
Sick Leave Cash Out Upon Retirement or Death. The University will provide a post- retirement medical expense plan (VEBA) that provides for reimbursement of medical expenses to eligible individuals. Instead of cash-out of sick leave on a one (1) hour for four (4) hour basis at retirement, the University shall deposit equivalent funds in the medical expense plan. The VEBA plan will remain in effect unless ten percent (10%) of eligible employees request (in writing) not later than October 1 of any year, that the University conduct a vote to consider discontinuing VEBA.four
Appears in 1 contract
Samples: Collective Bargaining Agreement
