Employees Beneficiary Association definition

Employees Beneficiary Association or “EBA” shall mean the employee organization within the meaning of section 3(4) of ERISA that is organized for the purpose of establishing and maintaining the New Plan, with a membership consisting of the individuals who are members of the Class and the Covered Group, and on behalf of which the Committee acts.
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Examples of Employees Beneficiary Association in a sentence

  • Furthermore, a Voluntary Employees' Beneficiary Association under Section 501(c)(9) of the Code will be considered a Benefit Plan for this purpose.

  • The Seattle School District adopted the Voluntary Employees Beneficiary Association for Public Employees in the State of Washington (VEBA Trust) Post-Separation Health Reimbursement Arrangement Plan (the “Plan”) pursuant to RCW 28A.400.210 in 1999.

  • 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.

  • In lieu of remuneration for unused compensable leave at retirement, equivalent funds may be contributed to a Voluntary Employee's Beneficiary Association (VEBA) plan pursuant to the rules of the applicable VEBA plan.

  • The funding policy for AEP's OPEB plan is to make contributions to an external Voluntary Employees Beneficiary Association trust fund equal to the incremental OPEB costs (i.e., the amount that the total postretirement benefits cost under SFAS 106, "Employers' Accounting for Postretirement Benefits Other Than Pensions," exceeds the pay-as-you-go amount).

  • Separate qualified Voluntary Employees' Beneficiary Association (VEBA) trusts exist for union and nonunion employees.

  • This amount shall be reduced by the value of the school corporation contribution from February 1, 2005 through the conclusion of the 2009-2010 school year to the tax sheltered annuity (one percent (1%) of the base salary including lanes and experience of each participating teacher to a Voluntary Employees Beneficiary Association (VEBA) account).

  • The Seattle School District adopted the Voluntary Employees Beneficiary Association for Public Employees in the State of Washington (VEBA Trust) Post- Separation Health Reimbursement Arrangement Plan (the “Plan”) pursuant to RCW 28A.400.210 in 1999.

  • Laclede Gas established the Voluntary Employees' Beneficiary Association (VEBA) and Rabbi trusts as its external funding mechanisms.

  • POSTEMPLOYMENT HEALTHCARE BENEFITS – Continued Funding Status and Funding Progress Beginning in fiscal year ending June 2011, the Foundation participated in the Auxiliaries Multiple Employer VEBA (Voluntary Employees' Beneficiary Association) and contributed $45,000 in fiscal year ending June 2013.

Related to Employees Beneficiary Association

  • Income beneficiary means a person to whom net income of a trust is or may be payable.

  • Refund beneficiary means an individual nominated by a qualified participant or a former qualified participant under section 66 to receive a distribution of the participant's accumulated balance in the manner prescribed in section 67.

  • Executive Employee means those employees of the Company of Grade Level 10 or above.

  • Participating employee means an employee whose election to participate in a Plan has been approved by the employer.

  • primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of Section 8.3, a Qualified Entity is a member of each Family Group to which such one or more Qualified Trusts that are its equity holders belong.

  • Managing Employee means a general manager, business manager, administrator, director, or other individual who exercises operational or managerial control over, or who directly or indirectly conducts the day-to-day operation of an institution, organization, agency or business entity;

  • Covered benefits or “benefits” means those health care services to which a covered person is entitled under the terms of a health benefit plan.

  • Eligible Executive means any employee of the Company or an Affiliate of the Company who (i) is designated by the Committee as an “Eligible Executive” who is eligible to participate in the Plan; (ii) has executed and returned a Participation Agreement to the Company; (iii) is not covered under any other severance plan, policy, program or arrangement sponsored or maintained by the Company or any of its Affiliates; and (iv) is not a party to an employment or severance agreement with the Company or any of its Affiliates pursuant to which such employee is eligible for severance payments or benefits. The Committee shall have the sole discretion to determine whether an employee is an Eligible Executive. Eligible Executives shall be limited to a select group of management or highly compensated employees within the meaning of Sections 201, 301 and 401 of ERISA.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined:

  • Female employee means an employed female who is pregnant or is caring for a child she has borne or a child who has been placed with her for adoption purposes.

  • Executive Severance Plan means the Company’s Senior Executive Employee Severance Pay Plan, as in effect from time to time.

  • Plan Participant means a person who is eligible to receive, and is receiving, a pension benefit from the Plan.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Covered Executive means any “executive officer” of the Company as defined under Rule 10D-1.

  • Beneficiary(ies means the individual or individuals designated in the Application by the Subscriber(s) to whom, or on whose behalf, Educational Assistance Payments are agreed to be paid, provided such individual qualifies under the Applicable Legislation and the Plan at the time such payments are made;

  • Designated Employee means an employee who has been designated by the school to receive complaints of hazing, harassment and bullying pursuant to subdivision 16 V.S.A. 570a(a)(7). The designated employees for each school building are identified in Appendix A of this policy.

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • Male employee means an employed male who is caring for a child borne of his spouse or a child placed with the employee for adoption purposes.

  • Employee Account means any brokerage account or unit investment trust account in which the Van Kampen Employee has any direct or indirect beneficial ownership.

  • Participating Employer means any trade or business (whether or not incorporated) which adopts this Plan with the consent of the Company identified in the Adoption Agreement.

  • land reform beneficiary , in relation to a property, means a person who -

  • Covered Executives means the Company’s current and former executive officers, as determined by the Administrator in accordance with the definition of executive officer set forth in Rule 10D-1 and the Listing Standards.

  • Vested Benefits means amounts which are vested or which Executive is otherwise entitled to receive under the terms of or in accordance with any plan, policy, practice or program of, or any contract or agreement with, the Company or any of its subsidiaries, at or subsequent to the date of his termination without regard to the performance by Executive of further services or the resolution of a contingency.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.