Common use of Welfare Benefit Plan Clause in Contracts

Welfare Benefit Plan. ‌ A Welfare Benefit Plan for all BPOA employees has been established in accordance with Section 501(c) (9) (Voluntary Employees Beneficiary Association) of the Internal Revenue Code. The benefits to be provided by the PLAN shall include but are not limited to payment of/or reimbursement for costs associated with the following Post-retirement benefits: medical benefits as provided in Section 213 (d) of the Internal Revenue Code, and Life Benefits. M.1. All employees shall participate in the PLAN. Contribution to the PLAN shall be one and one-half percent (1½%) of the current base salary step for each employee. Employees shall have the equivalent dollar value deducted from the Flexible Benefit amount established in Article IV.A. The contribution shall be credited to each individual’s PLAN account as delineated in the VEBA Trust Agreement. The balance of the Flexible Benefit amount shall be available for other authorized benefits as provided in this MOU. M.2. The City may make additional contributions to an individual employee’s PLAN account from the following sources: M.2.a. Annual conversion of a maximum of 30 hours or the lesser number of hours unused at the end of each calendar year at one half (½) cash value in compliance with current sick leave conversion rules. M.2.b. 70% of the total value of unused accrued sick leave computed from the employee’s last base salary upon retirement from the City’s retirement system, resignation when eligible for such retirement, resignation to enter a City elective office without a break in continuity of City service and serves in such office employment until retired under the City’s retirement system, or upon lay off because of the abolishment of position or employment because of absence of funds. Sick leave earned prior to July 1, 1974, will be available for sick leave use only and will not have monetary value at the time of retirement or death.

Welfare Benefit Plan. ‌ A Welfare Benefit Plan for all BPOA employees has been established in accordance with Section 501(c) (9) (Voluntary Employees Beneficiary Association) of the Internal Revenue Code. The benefits to be provided by the PLAN shall include but are not limited to payment of/or reimbursement for costs associated with the following Post-retirement benefits: medical benefits as provided in Section 213 (d) of the Internal Revenue Code, and Life Benefits. M.1. All employees shall participate in the PLAN. Contribution to the PLAN shall be one and one-half percent (1½%) of the current base salary step for each employeemember. Employees Members shall have the equivalent dollar value deducted from the Flexible Benefit amount established in Article IV.A. IV. A. The contribution shall be credited to each individual’s PLAN account as delineated in the VEBA Trust Agreement. The balance of the Flexible Benefit amount shall be available for other authorized benefits as provided in this MOU. M.2. The City may make additional contributions to an individual employeemember’s PLAN account from the following sources: M.2.a. Annual conversion of a maximum of 30 hours or the lesser number of hours unused at the end of each calendar year at one half (½) cash value in compliance with current sick leave conversion rules. M.2.b. 70% of the total value of unused accrued sick leave computed from the employee’s last base salary upon retirement from the City’s retirement system, resignation when eligible for such retirement, resignation to enter a City elective office without a break in continuity of City service and serves in such office employment until retired under the City’s retirement system, or upon lay off because of the abolishment of position or employment because of absence of funds. Sick Xxxx leave earned prior to July 1, 1974, will be available for sick leave use only and will not have monetary value at the time of retirement or death.

Welfare Benefit Plan. ‌ A Welfare Benefit Plan for all BPOA employees has been established in accordance with Section 501(c) (9) (Voluntary Employees Beneficiary Association) of the Internal Revenue Code. The benefits to be provided by the PLAN shall include but are not limited to payment of/or reimbursement for costs associated with the following Post-retirement benefits: medical benefits as provided in Section 213 (d) of the Internal Revenue Code, and Life Benefits. M.1. All BPOA employees shall participate in the PLAN. Contribution to the PLAN shall be one and one-half percent (1½%) of the current base salary step for each employeemember. Employees Members shall have the equivalent dollar value deducted from the Flexible Benefit amount established in Article IV.A. IV. A. The contribution shall be credited to each individual’s PLAN account as delineated in the VEBA Trust Agreement. The balance of the Flexible Benefit amount shall be available for other authorized benefits as provided in this MOU. M.2. The City may make additional contributions to an individual employeemember’s PLAN account from the following sources: M.2.a. Annual conversion of a maximum of 30 hours or the lesser number of hours unused at the end of each calendar year at one half (½) cash value in compliance with current sick leave conversion rules. M.2.b. 70% of the total value of unused accrued sick leave computed from the employee’s last base salary upon retirement from the City’s retirement system, resignation when eligible for such retirement, resignation to enter a City elective office without a break in continuity of City service and serves in such office employment until retired under the City’s retirement system, or upon lay off because of the abolishment of position or employment because of absence of funds. Sick Xxxx leave earned prior to July 1, 1974, will be available for sick leave use only and will not have monetary value at the time of retirement or death.

Welfare Benefit Plan. ‌ A Welfare Benefit Plan for all BPOA employees has been established in accordance with Section 501(c) (9) (Voluntary Employees Beneficiary Association) of the Internal Revenue Code. The benefits to be provided by the PLAN shall include but are not limited to payment of/or reimbursement for costs associated with the following Post-retirement benefits: medical benefits as provided in Section 213 (d) of the Internal Revenue Code, and Life Benefits. M.1. All BPOA employees shall participate in the PLAN. Contribution to the PLAN shall be one and one-half percent (1½%) of the current base salary step for each employeemember. Employees Members shall have the equivalent dollar value deducted from the Flexible Benefit amount established in Article IV.A. IV. A. The contribution shall be credited to each individual’s PLAN account as delineated in the VEBA Trust Agreement. The balance of the Flexible Benefit amount shall be available for other authorized benefits as provided in this MOU. M.2. The City may make additional contributions to an individual employeemember’s PLAN account from the following sources: M.2.a. Annual conversion of a maximum of 30 hours or the lesser number of hours unused at the end of each calendar year at one half (½) cash value in compliance with current sick leave conversion rules. . M.2.b. 70760% of the total value of unused accrued sick leave computed from the employee’s last base salary upon retirement from the City’s retirement system, resignation when eligible for such retirement, resignation to enter a City elective office without a break in continuity of City service and serves in such office employment until retired under the City’s retirement system, or upon lay off because of the abolishment of position or employment because of absence of funds. Sick Xxxx leave earned prior to July 1, 1974, will be available for sick leave use only and will not have monetary value at the time of retirement or death. M.2.c. Effective February 5, 2012, the City will contribute $27 per month per active employee to the individual employee’s VEBA account. Future additional amounts will be placed in active employees accounts pursuant to Section I of this article.

Welfare Benefit Plan. ‌ A Welfare Benefit Plan for all BPOA employees has been established in accordance with Section 501(c) (9) (Voluntary Employees Beneficiary Association) of the Internal Revenue Code. The benefits to be provided by the PLAN shall include but are not limited to payment of/or reimbursement for costs associated with the following Post-retirement benefits: medical benefits as provided in Section 213 (d) of the Internal Revenue Code, and Life Benefits. M.1. All BPOA employees shall participate in the PLAN. Contribution to the PLAN shall be one and one-half percent (1½%) of the current base salary step for each employeemember. Employees Members shall have the equivalent dollar value deducted from the Flexible Benefit amount established in Article IV.A. IV. A. The contribution shall be credited to each individual’s PLAN account as delineated in the VEBA Trust Agreement. The balance of the Flexible Benefit amount shall be available for other authorized benefits as provided in this MOU. M.2. The City may make additional contributions to an individual employeemember’s PLAN account from the following sources: M.2.a. Annual conversion of a maximum of 30 hours or the lesser number of hours unused at the end of each calendar year at one half (½) cash value in compliance with current sick leave conversion rules. . M.2.b. 7060% of the total value of unused accrued sick leave computed from the employee’s last base salary upon retirement from the City’s retirement system, resignation when eligible for such retirement, resignation to enter a City elective office without a break in continuity of City service and serves in such office employment until retired under the City’s retirement system, or upon lay off because of the abolishment of position or employment because of absence of funds. Sick Xxxx leave earned prior to July 1, 1974, will be available for sick leave use only and will not have monetary value at the time of retirement or death. M.2.c. Effective February 5, 2012, the City will contribute $27 per month per active employee to the individual employee’s VEBA account. Future additional amounts will be placed in active employees accounts pursuant to Section I of this article.

Welfare Benefit Plan. ‌ A Welfare Benefit Plan for all BPOA employees has been established in accordance with Section 501(c) (9) (Voluntary Employees Beneficiary Association) of the Internal Revenue Code. The benefits to be provided by the PLAN shall include but are not limited to payment of/or reimbursement for costs associated with the following Post-retirement benefits: medical benefits as provided in Section 213 (d) of the Internal Revenue Code, and Life Benefits. M.1L.1. All BPOA employees shall participate in the PLAN. Contribution to the PLAN shall be one and one-half percent (1½%) of the current base salary step for each employeemember. Employees Members shall have the equivalent dollar value deducted from the Flexible Benefit amount established in Article IV.A. IV. A. The contribution shall be credited to each individual’s PLAN account as delineated in the VEBA Trust Agreement. The balance of the Flexible Benefit amount shall be available for other authorized benefits as provided in this MOU. M.2L.2. The City may make additional contributions to an individual employeemember’s PLAN account from the following sources: M.2.aL.2.a. Annual conversion of a maximum of 30 hours or the lesser number of hours unused at the end of each calendar year at one half (½) cash value in compliance with current sick leave conversion rules. L.2.b. M.2.b. 70% One half (½) of the total value of unused accrued sick leave computed from the employee’s last base salary upon retirement from the City’s retirement system, resignation when eligible for such retirement, resignation to enter a City elective office without a break in continuity of City service and serves in such office employment until retired under the City’s retirement system, or upon lay off because of the abolishment of position or employment because of absence of funds. Sick Xxxx leave earned prior to July 1, 1974, will be available for sick leave use only and will not have monetary value at the time of retirement or death. L.2.c. Other mutually agreed to contributions.