VEBA Account. A. The School Corporation agrees to establish a VEBA (voluntary employees’ beneficiary association) trust account.
VEBA Account. 12 The County will provide a contribution to a VEBA account in the amount of 13 one hundred twenty-five ($125) per month (paid on the first two pay periods 14 of the month) for eligible employees who choose to opt out of the County’s 15 medical, dental, and vision insurance plans. In order to qualify for the Opt- 16 Out contribution, the employee must provide proof that s/he is covered by 17 another qualified group health plan that meets the minimum value 18 requirements set forth under the Affordable Care Act.
VEBA Account. The District agrees to pay an amount of $1200 annually into a VEBA account for each employee. The contributions will be disbursed in two installments in December and July.
VEBA Account. A. The school corporation shall establish a VEBA account for each individual employee. Once retired, an employee may use VEBA monies to pay health insurance premiums, life insurance premiums, long term care premiums, and to be reimbursed for unreimbursed medical expenses of the employee, spouse, and dependents. Each employee may determine how his or her account shall be invested among the investment options made available by the VEBA vendor.
VEBA Account. For school years 2023-2024, the Board will contribute an amount equal to 1% of the participating teacher’s salary as reflected in Appendix “A” to a VEBA account to be established on behalf of the teacher. The Board and Association will confer and agree upon the vendor(s) to be used for such accounts with the understanding that no administrative costs for such accounts will be paid by the Board. This 1% contribution will continue for each school year after 2023-2024 unless and until changed by agreement of the parties.
