City of Racine - File #: 06-1505

• File #: 06-1505
• Version: B
• Name: An agreement with Security Benefit Group to establish a 501{c} 9 VEBA Trust also know as a Voluntary Employee's Beneficiary Association plan. This is in accordance with the provisions of the Racine Police Association agreement and would be available only
• Type: Communication
• Status: Passed
• File created: 2/2/2006
• In control: Finance and Personnel Committee
• Final action: 1/1/2015
• Title: Subject: Communication from the Human Resource's Coordinator requesting to enter into an agreement with Security Benefit Group to establish a 501{c} 9 VEBA Trust also know as a Voluntary Employee's Beneficiary Association plan. Recommendation: That the City of Racine enters into an agreement with Security Benefit Group to establish a 501 {c} 9 VEBA Trust also known as a Voluntary Employee's Beneficiary Association plan that is open only to members of the Racine Police Association. Fiscal Note: All sick leave payout at retirement for Racine Police Association members will be deposited in these accounts on a pretax basis. The savings towards the City will be 7.65%.

Date	Ver.	Action By	Action	Result
2/22/2006	B	Common Council	Approved as Presented	Pass
2/13/2006	A	Finance and Personnel Committee	Recommended For Approval	Pass
2/7/2006	A	Common Council	Referred

Title

Subject: Communication from the Human Resource's Coordinator requesting to enter into an agreement with Security Benefit Group to establish a 501{c} 9 VEBA Trust also know as a Voluntary Employee's Beneficiary Association plan.

Recommendation: That the City of Racine enters into an agreement with Security Benefit Group to establish a 501 {c} 9 VEBA Trust also known as a Voluntary Employee's Beneficiary Association plan that is open only to members of the Racine Police Association.

Fiscal Note:  All sick leave payout at retirement for Racine Police Association members will be deposited in these accounts on a pretax basis.  The savings towards the City will be 7.65%.