Common use of VOLUNTARY EMPLOYEES’ BENEFICIARY ASSOCIATIONS Clause in Contracts

VOLUNTARY EMPLOYEES’ BENEFICIARY ASSOCIATIONS. (VEBAS) In accordance with state and federal law, employees in the bargaining unit and the College may agree to form a VEBA (tax-free medical spending accounts) funded by the retiree’s sick leave cash out. An Employer sponsored VEBA of employees covered by this Agreement will be implemented only by written agreement with the Union. The current VEBA agreement with the College will remain in effect until such time it is reversed by a vote of the exempt employees.

VOLUNTARY EMPLOYEES’ BENEFICIARY ASSOCIATIONS. (VEBAS) In accordance with state and federal law, colleges/districts and employees in the bargaining unit and the College units may agree to form a VEBA (tax-free medical spending accounts) funded by the retiree’s sick leave cash out. An Employer sponsored A VEBA of employees covered by this Agreement will be implemented only by written agreement with the Union. The current VEBA agreement with the College will remain in effect until such time it is reversed by a vote of the exempt employees.

VOLUNTARY EMPLOYEES’ BENEFICIARY ASSOCIATIONS. (VEBAS) In accordance with state and federal law, employees in the bargaining unit and the College may agree to form a VEBA (tax-free medical spending accounts) funded by the retiree’s sick leave cash out. An Employer sponsored A VEBA of employees covered by this Agreement will be implemented only by written agreement with the Union. The current VEBA agreement with the College will remain in effect until such time it is reversed by a vote of the exempt employees.