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 BPOA employees shall participate in the PLAN. Contribution to the PLAN shall be one and one-half percent (1½%) of the current salary step for each member. Members 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.

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 salary step for each member. Members 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.