Common use of VEBA Clause in Contracts

VEBA. The School Corporation shall contribute to a voluntary employees' beneficiary association ("VEBA"), as described in section 501 (c)(9) of the Internal Revenue Code, the amount over and above $2,000.00 as calculated by ESC as the present value for the Retirement Severance, Social Security and Medicare Bridge Benefits for each individual teacher. The single investment Vendor for the VEBA Plan shall be the Security Benefit Indiana. Additional terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The School Corporation shall contribute to a voluntary employees' ’ beneficiary association ("“VEBA"”), as described in section 501 (c)(9501(c)(9) of the Internal Revenue Code, thirty percent (30%) of the total sum of the amount over and above $2,000.00 as calculated by ESC FSC as the present value for the Retirement Severance, Social Security Pay and Medicare Bridge Benefits Severance benefits for each individual teacher. The single investment Vendor for the VEBA Plan shall be the Security Benefit Indiana. Additional terms and conditions for the administration and operations of the VEBA shall be as follows:

VEBA. The School Corporation school corporation shall contribute to a voluntary employees' beneficiary association ("VEBA"), ) as described in section 501 (c)(950(c)(9) of the Internal Revenue Code, that amount representing the amount over health care portion of the Retirement Benefit and above $2,000.00 the years of service benefit as calculated by ESC as the present value for the Retirement Severance, Social Security and Medicare Bridge Benefits for each individual teacherall employees under subsection C above. The single investment Vendor for school corporation shall contribute funds as determined in Section C to the VEBA Plan shall be within fifteen (15) days of receipt of bond funds under the Security Benefit Indiana. Additional terms and conditions for the administration and operations of the VEBA shall be as follows:SEA 199, but in no event later than June 30, 2004.