Common use of Voluntary Employees’ Benefit Association Medical Expense Plan Clause in Contracts

Voluntary Employees’ Benefit Association Medical Expense Plan. The University will maintain its Voluntary Employees’ Benefit Association Medical Expense Plan (“VEBA Plan”) during the term of this Agreement. All eligible employees who retire during a calendar year will participate in the VEBA Plan unless a majority of retirement eligible employees determines through a majority vote that they do not wish to participate in the VEBA Plan during that calendar year. Voting to determine participation in the VEBA Plan will be conducted according to the University’s VEBA Procedures.