Welfare Benefit Trust Clause Samples
A Welfare Benefit Trust clause establishes a legal arrangement in which an employer sets up a trust to provide specific employee benefits, such as health, disability, or life insurance. Under this clause, the employer contributes funds to the trust, which are then used to pay for eligible employee welfare benefits according to the plan's terms. This structure helps ensure that benefit funds are managed separately from the employer's general assets, providing security for employees and potential tax advantages for the employer. The core function of this clause is to formalize the provision and funding of employee welfare benefits, ensuring both compliance and protection for beneficiaries.
Welfare Benefit Trust. The District shall contribute the sum of $1,250 per annum per participating unit member towards a welfare benefit trust administered by the Association; effective September 1, 2013 the District shall contribute the sum of $1,325 per annum per participating unit member towards a welfare benefit trust administered by the Association; effective September 1, 2014 the District shall contribute the sum of $1,400 per annum per participating unit member towards a welfare benefit trust administered by the Association; and effective September 1, 2015 the District shall contribute the sum of $1,475 per annum per participating unit member towards a welfare benefit trust administered by the Association. The funding shall occur on a quarterly basis by July 15th, October 1st, January 1st and April 1st each year. The quarterly funding shall be based upon the full-time equivalent count of bargaining unit members on payroll on the last payroll date immediately preceding the quarters as described above; provided, however, that where a substitute unit member is replacing another unit member on paid leave, there will be only one (1)
Welfare Benefit Trust. 5.1.1 The District shall fund a Welfare Benefit Trust Fund established under the auspices of the Association, as follows: Effective July 1, 2023: $1,500 per unit member per annum. Effective July 1, 2024: $1,500 per unit member per annum. Effective July 1, 2025: $1,500 per unit member per annum.
5.1.2 District will make payment in four (4) equal annual installments each due on the first day of the quarter.
5.1.3 The Association agrees to allow the District the right to audit the books and records of the Welfare Benefit Trust Fund periodically. The Association shall indemnify the District against damages, including reasonable attorneys’ fees, arising from litigations commenced against the District pursuant to this provision of the Agreement, except for suits to require the timely payment of the contributions referenced above.
Welfare Benefit Trust. The District shall contribute the following amounts to a welfare benefit trust fund for each unit member of the STA who is eligible for health insurance benefits: Effective July 1, 2021: $1,530 Effective July 1, 2024: $1,580
Welfare Benefit Trust. The District shall contribute the funds required to provide for participation in the Hyde Park Teachers’ Association Welfare Fund for members of this bargaining unit, provided however, that the per capita contribution for this bargaining unit shall not exceed the per capita District contribution for members of the Hyde Park Teachers’ Association. In the event that participation in the Hyde Park Teachers’ Association Welfare Fund is not allowed, the parties will immediately reopen negotiations for the purpose of selecting alternative dental insurance and other insurance plans which may be mutually agreeable.
Welfare Benefit Trust. 10.7.1 The Association shall create a trust fund pursuant to the rules of the Department of Labor and the laws of the State of New York and upon presentation by the Association to the District of documentation of a legal trust the District shall pay annually an amount equal to: Effective July 1, 2017: $805 per eligible employee Effective July 1, 2025: $855 per eligible employee
10.7.2 An eligible employee is an employee working four hours or more per day in a regular appointed position.
10.7.3 One quarter of the annual amount shall be paid within fifteen days of the quarter’s end (9/15, 12/15, 3/15 & 6/15). Such payments shall be adjusted according to the total number of eligible employees as of the first day of the month of each quarterly payment.
Welfare Benefit Trust