VEBA Accounts. 303.1 The Board agrees to establish a VEBA account for teachers hired 1997-98 and after in an amount equal to % % of the annual teacher contract amount. Effective January 1, 2012, the Board's contribution shall be suspended for seventeen (17) pay periods and shall thereafter be reinstated. The amount calculated for each employee will be invested in a separate account. There will be no co-mingling of accounts and each employee may determine how his or her account shall be invested among the various investment options made available by the vendor for the VEBA. 303.2 A teacher is vested in the VESA account with five (5) years of service with RCS and thereafter the VEBA account shall be portable. 303.3 Following retirement and the satisfaction of the requirements set forth in subsection 102, Section C of this Article IV, a retiree may use the amounts held in his/her separate VEBA account to pay health insurance premiums, term life insurance premiums, and to be reimbursed for unreimbursed medical expenses of the retiree, spouse and dependents according to IRS Codes. 303.4 Furthermore, following the death of an employee who had otherwise satisfied the requirements of subsection 102, Section C of this Article IV, any amounts remaining in the deceased employees XXXX account may continue to be used to pay these premiums and expenses of the employee's spouse and dependents. At no time may the VEBA make loans to an employee, his/her spouse, or his/her dependents. 303.5 If an employee terminates employment before satisfaction of the requirements set forth in subsection 102, Section C of this Article IV, the terminated employee's VEBA account shall be forfeited. 303.6 Forfeited amounts shall be reallocated at the end of each plan year only among the then remaining separate VEBA accounts of those hired 1997-1998 and after. This reallocation shall be in a manner similar to that used by the Educational Services Companyin initially determining the present values calculations and shall be determined by the vendor. Therefore, the VEBA accounts of the following employees will not share in the reallocation of forfeiture of a VEBA account:

VEBA Accounts. 303.1 The Boafd agfees to establish a VEBA account fof teachefs hifed 1997-98 and aftef in an amount equal to ½ % of the annual teachef contfact amount. Effective Januafy l, 20l2, the Boafd’s contfibution shall be suspended fof seventeen (17) pay pefiods and shall thefeaftef be feinstated. The amount calculated fof each employee will be invested in a sepafate account. Thefe will be no co-mingling of accounts and each employee may detefmine how his of hef account shall be invested among the vafious investment options made available by the vendof fof the VEBA.

VEBA Accounts. (A) In general. All employees covered by this Agreement shall participate in a Voluntary Employee Beneficiary Association (VEBA) plan. Eligible employees are all current collective bargaining employees of the Wauconda Fire Protection District as of the ratification of this Agreement, those collective bargaining employees hired thereafter, and any other District employee that the District allows. The District agrees to make no changes to the plan for the life of the Agreement unless agreed upon first by the Union, but this does not preclude changes being made by the plan provider or changes made due to changes in law or its interpretation by a court or administrative agency. The Parties agree that the District shall have no financial contribution towards the VEBA beyond the accrued sick or personal leave or sick bank termination payouts referenced elsewhere in this Agreement. (B) The District is authorized to make a mandatory, non-elective, bi-weekly payroll deduction on a pretax basis from the payroll of each eligible participant in the VEBA. Such monies shall be paid to the VEBA plan administrator for deposit with the trustee in accordance with the terms of the employee participation agreement in a form attached hereto as APPENDIX E. The firefighter class deduction is equal to a flat dollar amount of no less than $663.00 per year, or $25.50 per pay period, but this flat dollar amount may be adjusted annually. The deduction for Lieutenants is equal to a flat dollar amount of no less than $1060.80 per year, or $40.80 per pay period, but this flat dollar amount may be adjusted annually. If the Union determines to change the amount of the employee contributions for bargaining unit members, it must provide advance written notice to the District. The District shall maintain a VEBA plan through payroll deduction for participating employees.

VEBA Accounts. 303.1 The Board agrees to establish a VEBA account for teachers hired 1997-98 and after in an amount equal to ½ % of the annual teacher contract amount. The amount calculated for each employee will be invested in a separate account. There will be no co-mingling of accounts and each employee may determine how his or her account shall be invested among the various investment options made available by the vendor for the VEBA. 303.2 A teacher is vested in the VEBA account with five (5) years of service with RCS and thereafter the VEBA account shall be portable. 303.3 Following retirement and the satisfaction of the requirements set forth in subsection 102, Section C of this Article IV, a retiree may use the amounts held in his/her separate VEBA account to pay health insurance premiums, term life insurance premiums, and to be reimbursed for unreimbursed medical expenses of the retiree, spouse and dependents according to IRS Codes. 303.4 Furthermore, following the death of an employee who had otherwise satisfied the requirements of subsection 102, Section C of this Article IV, any amounts remaining in the deceased employee’s VEBA account may continue to be used to pay these premiums and expenses of the employee’s spouse and dependents. At no time may the VEBA make loans to an employee, his/her spouse, or his/her dependents.

Related to VEBA Accounts

Cash Accounts The Custodian will open and maintain in the name of the Client one or more cash deposit accounts (each a “Cash Account”) in such currencies as may be required in connection with the investment activity of the Client.
Separate Accounts The trustee shall maintain within the trust fund a separate account for each Agricultural Contractor that signs the trust agreement to hold deposits made pursuant to this article.
Set Up Accounts (a) Bank shall establish and maintain the following accounts ("Accounts"): (i) a Securities Account in the name of Customer on behalf of each Fund for Financial Assets, which may be received by Bank or its Subcustodian for the account of Customer, including as an Entitlement Holder; and (ii) an account in the name of Customer ("Cash Account") for any and all cash in any currency received by Bank or its Subcustodian for the account of Customer. Notwithstanding paragraph (ii), cash held in respect of those markets where Customer is required to have a cash account in its own name held directly with the relevant Subcustodian shall be held in that manner and shall not be part of the Cash Account. Bank shall notify Customer prior to the establishment of such an account. (b) At the request of Customer, additional Accounts may be opened in the future, which shall be subject to the terms of this Agreement. (c) Except as precluded by Section 8-501(d) of the Uniform Commercial Code ("UCC"), Bank shall hold all Securities and other Financial Assets, other than cash, of a Fund that are delivered to it in a "securities account" with Bank for and in the name of such Fund and shall treat all such assets other than cash as "financial assets" as those terms are used in the UCC.
Management Accounts To the extent that it owns any Management Account (including any lock-box related thereto), each Guarantor shall comply with Section 5.1 of the Base Indenture with respect to each such Management Account (including any lock-box related thereto).
Retirement Accounts With respect to certain retirement plans or accounts (such as individual retirement accounts (“IRAs”), SIMPLE IRAs, SEP IRAs, Xxxx IRAs, Education IRAs, and 403(b) Plans (such accounts, “Retirement Accounts”), the Transfer Agent, at the request and expense of the Fund, provide or arrange for the provision of various services to such plans and/or accounts, which services may include custodial agent services such as account set-up maintenance, and disbursements as well as such other services as the parties hereto shall mutually agree upon.
Designated Accounts The Collection Account, the Note Distribution Account and the Reserve Account, collectively. Determination Date: The tenth day of each calendar month, or if such tenth day is not a Business Day, the next succeeding Business Day. Discount Rate: 0.00% per annum.
Checking Accounts A monthly bank reconciliation shall be conducted by Subrecipient. All checks, stubs, etc. shall be pre-numbered and accounted for, including all voided checks. Check stubs, canceled checks, and deposit slips must be readily available for audit purposes.
Investment Accounts Schedule 2 sets forth under the headings “Securities Accounts” and “Commodity Accounts”, respectively, all of the Securities Accounts and Commodity Accounts in which such Grantor has an interest. Except as disclosed to the Administrative Agent, such Grantor is the sole entitlement holder of each such Securities Account and Commodity Account, and such Grantor has not consented to, and is not otherwise aware of, any Person (other than the Administrative Agent) having “control” (within the meanings of Sections 8-106 and 9-106 of the UCC) over, or any other interest in, any such Securities Account or Commodity Account or any securities or other property credited thereto, except for, subject to the relevant Control Agreement, the account bank party to such Control Agreement; (a) Schedule 2 sets forth under the heading “Deposit Accounts” all of the Deposit Accounts in which such Grantor has an interest and, except as otherwise disclosed to the Administrative Agent, such Grantor is the sole account holder of each such Deposit Account and such Grantor has not consented to, and is not otherwise aware of, any Person (other than the Administrative Agent) having either sole dominion and control (within the meaning of common law) or “control” (within the meaning of Section 9-104 of the UCC) over, or any other interest in, any such Deposit Account or any money or other property deposited therein, except for, subject to the relevant Control Agreement, the account bank party to such Control Agreement; and (b) Except as otherwise permitted under Section 5.6 and Section 5.7, such Grantor has taken all actions necessary or desirable to: (i) establish the Administrative Agent’s “control” (within the meanings of Sections 8-106 and 9-106 of the UCC) over any Certificated Securities (as defined in Section 9-102 of the UCC); (ii) establish the Administrative Agent’s “control” (within the meanings of Sections 8-106 and 9-106 of the UCC) over any portion of the Investment Accounts constituting Securities Accounts, Commodity Accounts, Securities Entitlements or Uncertificated Securities (each as defined in Section 9-102 of the UCC); (iii) establish the Administrative Agent’s “control” (within the meaning of Section 9-104 of the UCC) over all Deposit Accounts other than Exempt Accounts; and (iv) deliver all Instruments (as defined in Section 9-102 of the UCC) to the Administrative Agent to the extent required hereunder, provided, that the Administrative Agent shall not send a notice of sole control or similar notice unless an Event of Default has occurred and is continuing.
MEMBER'S ACCOUNTS The Member will maintain separate capital and distribution accounts. The Member's capital account will be determined and maintained in the manner set forth in Treasury Regulation 1.704-1(b)(2)(iv), each capital account will consist of the Member’s initial capital contribution: (a) increased by: i. Any additional capital contribution made by the Member; ii. Credit balances transferred from the Member’s distribution account to his or her capital account; and (b) decreased by: i. Distributions to the Member in reduction of Company capital; ii. The Member's share of Company losses if charged to his or her capital account.
User Accounts End User shall ensure that only Authorized Users can access the Services. User accounts may not be shared among individuals or used to provide access to the Services to individuals who are not the individual associated with the corresponding user account.

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