Examples of HRA Account in a sentence
The HRA Account of any employee who retires from District service will be converted to a retiree HRA account.
The HRA Account so established will merely be a recordkeeping account with the purpose of keeping track of contributions and available reimbursement amounts.
District retirees will continue to retain the ability to draw on their HRA Account and claim reimbursement for qualifying medical expenses for themselves and their eligible dependents.
Your HRA Account is merely a recordkeeping account; it is not funded (all reimbursements are paid from the general assets of the Employer), and it does not bear interest or accrue earnings of any kind.
No contribution to a retiree account shall be due when the balance in the retiree’s account reaches the “cap.” An employee whose Active HRA Account balance exceeds the Retiree cap on the effective date of their retirement, will still be permitted to draw down on those amounts in excess of the cap.