Voluntary Employee Benefit Association Sample Clauses

Voluntary Employee Benefit Association. It is agreed that should the Oregon Teamster Employer Trust allow additional contributions on behalf of employees under provisions of IRS 501.C9, the parties shall meet to negotiate a fair and equitable resolution to allow such contributions. It is understood that all contributions would come from payroll deductions from employees who would choose by majority vote to participate in this additional coverage.
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Voluntary Employee Benefit Association. Section 13.2.1 (If agreed to by MEA members) A monthly contribution will be deducted from each member’s salary by the District to be placed in a Voluntary Employee Benefit Association (VEBA) account. This is in addition to the optional VEBA conversion of sick days when an employee qualifies. The contribution rate will stay the same unless MEA members vote to change it. An annual vote by the MEA is required to renew these provisions.
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Voluntary Employee Benefit Association. (VEBA) Effective January 1, 2014, the City will contribute $50 per month to the VEBA specified by Local 2898 for employees covered by this Agreement who are not entitled to disability leave under State Statute RCW 41.26.
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Voluntary Employee Benefit Association. The Board will establish and maintain the Xxxxxxxx County Schools 501(c)9 Voluntary Employee Benefit Association (“VEBA”) that has separate Retirement Restructuring, Retirement and Active at work (“Active”) accounts. The School Corporation will pay for any annual VEBA fee(s) for any teacher participating in the VEBA up to a maximum of Twenty Dollars ($20.00) per year.
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Voluntary Employee Benefit Association. (VEBA) The employer shall make available to eligible employees a VEBA plan to allow employees, upon separation from service due to retirement or death or eligible annual sick leave cash out, to convert sick leave into a medical reimbursement plan pursuant to applicable WACs, RCWs, and the employer's policy and procedures. The employer will provide each eligible employee with the paperwork and inform eligible employees of the process for participation in the Plan complying with the applicable law. Participation in VEBA will automatically renew each year. However, if one or more members are eligible to retire, the union may conduct a vote in October to determine participation for the following year. The union will notify Human Resources in writing by December 31 if they choose not to participate in the VEBA plan the following year.
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Voluntary Employee Benefit Association. The Borough shall maintain and manage a Voluntary Employee Beneficiary Association (VEBA) plan for the benefit of the Officers. On a voluntary basis, each Officer can enroll in this plan. In order to enroll, the Officer must pay $2,000 into the plan prior to retirement. The plan will pay $250.00 per month towards medical insurance coverage to any Officer who retires prior to the age of 65. The payment will be made until such time as the Officer becomes Medicare eligible or until the Officer reached the age of 65, whichever occurs first.
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Voluntary Employee Benefit Association. (VEBA) Effective August 1, 2003, there shall be a program titled VEBA es- tablished as a part of the WTWT, for the purpose of providing the means for pre-funding, in part, the WTWT retiree’s self pay rates for Retiree Health and Welfare Benefits. The funding of the VEBA Benefit shall be derived from the diversion of $100.60 per month from each contribution paid on behalf of each active employee, Em- ployer contributions, earned income on reserve investments, and the transfer of present retiree reserves into the VEBA account. Contri- butions shall be credited to each individual employee on behalf of who such contributions are remitted for purposes of determining benefit eligibility. A detailed explanation of benefit amounts and eligibility requirements will be made available to all participants. The contribution level necessary to fund the Retirees Benefits shall be determined from time to time by the WTWT Trustees. It is ac- knowledged by the bargaining parties that the granting of credits under the VEBA program has been suspended by the Board of Trustees of the WTWT and that the $100.60 being contributed under this provision is currently being used to offset ongoing retiree costs.
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Voluntary Employee Benefit Association. (VEBA) "Eligible employees" for purposes of this section shall be defined as those members of the bargaining unit who have successfully completed their initial probationary period. The City has adopted a HRA-VEBA account with the HRA-VEBA Trust to receive contributions of eligible IAFF employees. For employees who elect to enroll in the PPO or Kaiser plan, the City will contribute $90 per month for each eligible employee to the IAFF VEBA. For those employees who elect to enroll in the HDHP, City contributions ($90/month) to the HRA-VEBA will be made instead to the City Deferred Compensation Plans (457) and the employee contributions to the HRA-VEBA will be suspended.
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Related to Voluntary Employee Benefit Association

  • Employee Benefit Matters Except as would not reasonably be expected to have, either individually or in the aggregate, a Company Material Adverse Effect: (a) each “employee benefit plan” (within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)) providing benefits to any current or former employee, officer or director of the Company or any member of its “Controlled Group” (defined as any organization which is a member of a controlled group of corporations within the meaning of Section 414 of the Internal Revenue Code of 1986, as amended (the “Code”)) that is sponsored, maintained or contributed to by the Company or any member of its Controlled Group and for which the Company or any member of its Controlled Group would have any liability, whether actual or contingent (each, a “Plan”) has been maintained in compliance with its terms and with the requirements of all applicable statutes, rules and regulations, including ERISA and the Code; (b) with respect to each Plan subject to Title IV of ERISA (including, for purposes of this clause (b), any plan subject to Title IV of ERISA that the Company or any member of its Controlled Group previously maintained or contributed to in the six years prior to the Signing Date), (1) no “reportable event” (within the meaning of Section 4043(c) of ERISA), other than a reportable event for which the notice period referred to in Section 4043(c) of ERISA has been waived, has occurred in the three years prior to the Signing Date or is reasonably expected to occur, (2) no “accumulated funding deficiency” (within the meaning of Section 302 of ERISA or Section 412 of the Code), whether or not waived, has occurred in the three years prior to the Signing Date or is reasonably expected to occur, (3) the fair market value of the assets under each Plan exceeds the present value of all benefits accrued under such Plan (determined based on the assumptions used to fund such Plan) and (4) neither the Company nor any member of its Controlled Group has incurred in the six years prior to the Signing Date, or reasonably expects to incur, any liability under Title IV of ERISA (other than contributions to the Plan or premiums to the Pension Benefit Guaranty Corporation in the ordinary course and without default) in respect of a Plan (including any Plan that is a “multiemployer plan”, within the meaning of Section 4001(c)(3) of ERISA); and (c) each Plan that is intended to be qualified under Section 401(a) of the Code has received a favorable determination letter from the Internal Revenue Service with respect to its qualified status that has not been revoked, or such a determination letter has been timely applied for but not received by the Signing Date, and nothing has occurred, whether by action or by failure to act, which could reasonably be expected to cause the loss, revocation or denial of such qualified status or favorable determination letter.

  • Employee Benefit Plans Except as could not reasonably be expected to result, either individually or in the aggregate, in a Material Adverse Effect, (i) each Employee Benefit Plan and Foreign Pension Plan (and each related trust, insurance contract or fund) has been documented, funded and administered in compliance with all applicable Laws, including, without limitation, ERISA and the Code; (ii) the sponsor or adopting employer of each Employee Benefit Plan which is intended to qualify under Section 401(a) of the Code has received or timely applied for a favorable determination letter, or is entitled to rely on a favorable opinion letter, as applicable, from the IRS indicating that such Employee Benefit Plan is so qualified and nothing has occurred subsequent to the issuance of such determination letter or opinion letter which would cause such Employee Benefit Plan to lose its qualified status; (iii) no liability to the PBGC (other than required premium payments), the IRS, any Employee Benefit Plan or any Trust established under Title IV of ERISA has been or is expected to be incurred by any ERISA Party (other than contributions made to an Employee Benefit Plan or such Trust or expenses paid on their behalf, in each case in the ordinary course); (iv) no ERISA Event has occurred or is reasonably expected to occur; (v) the present value of the aggregate benefit liabilities under each Pension Plan (determined as of the end of the most recent plan year on the basis of the actuarial assumptions specified for funding purposes in the most recent actuarial valuation for such Pension Plan) did not exceed the aggregate current value of the assets of such Pension Plan; (vi) no ERISA Party is in “default” (as defined in Section 4219(c)(5) of ERISA) with respect to payments to a Multiemployer Plan; (vii) no ERISA Party has incurred any obligation in connection with the termination of, or withdrawal from, any Foreign Pension Plan; and (viii) the present value of the accrued benefit liabilities (whether or not vested) under each Foreign Pension Plan, determined as of the end of Holdings’ and the Borrowers’ most recently ended Fiscal Year for which audited financial statements are available on the basis of the actuarial assumptions described in Holdings’ audited financial statements for such Fiscal Year, did not exceed the aggregate of (A) the current value of the assets of such Foreign Pension Plan allocable to such benefit liabilities and (B) the amount then reserved on Holdings’ consolidated balance sheet in respect of such liabilities (and such amount reserved on Holdings’ consolidated balance sheet does not constitute a material liability to Holdings and its Restricted Subsidiaries taken as a whole).

  • Sick Leave Benefit Plan The Sick Leave Benefit Plan will provide sick leave days and short term disability days for reasons of personal illness, personal injury, including personal medical appointments and personal dental appointments.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

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