VEBA HRA - Voluntary Separation Incentive
Section: IV. ADSV - 381
Approved By: Dr. Pamela J. Transue, 04/12/12
Last Review: 02/10/12
Last Revision: 02/19/09
Prior Revisions: 02/19/09
Initial Adoption: Unknown
TCC is adopting the VEBA HRA Plan (plan) as administered by the VEBA Trust for Public Employees in the State of Washington (Trust) as the plan into which the employer only incentive contributions will be deposited.
The Trust agrees to administer the Plan in accordance with the VEBA HRA document (cop on file in the TCC Human Resources Office). Human Resources is responsible for implementing the enrollment procedures necessary for the administration of the plan.
TCC will make a one-time contribution into the VEBA HRA in an amount equal to seven hundred sixty-nine dollars ($769) per month, for up to five years (60 month maximum) or the attainment of Medicare eligibility, whichever comes first. Such a contribution shall be available for those employees who meet the eligibility criteria, are approved by the College executive staff, and complete a VEBA Membership Enrollment form no later than August 1, 2009, and agree to separation from the College in accordance with a signed agreement executed by both the employee and the College.
This policy is intended to address a pending budget shortfall by offering voluntary separation incentive with an employer direct contribution into the voluntary employees’ benefit association (VEBA) trust for Public Employees in the State of Washington (Trust) Health Reimbursement Account (HRA) to eligible exempt and faculty employees who have been approved for the incentive by the College executive staff.
To Whom Does This Policy Apply
Participation in the incentive is voluntary, and is not an entitlement or right automatically available to all person who meet the eligibility criteria. Following are the groups of persons eligible to request consideration of the separation incentive:
- Exempt non represented professional staff who have accumulated a minimum of ten (10) years of full-time exempt employment at the College as of June 30, 2009
- academic employees who have accumulated a minimum of ten (10) academic years of full-time academic employment at the College as of June 30, 2009
Voluntary Employee’s Benefit Association Health Reimbursement Arrangement Plan Document
Board of Trustees Minutes dated February 19, 2009
Tacoma Community College (TCC) and TCC Federation of Teachers Negotiated Agreement and applicable Memorandums of Understanding
VEBA Membership Enrollment Form which includes a hold harmless agreement as required by RCW 28B.50553(5)
See College Policy Definitions