Organization: AUXILIARIES MULTIPLE EMPLOYER VEBA
Mission: THE VEBA HAS BEEN FORMED TO PROVIDE A MECHANISM FOR AUXILIARIES OF THE CALIFORNIA STATE UNIVERSITY SYSTEM TO FUND THEIR RETIREE WELFARE BENEFIT PLAN OBLIGATIONS ON A JOINT BASIS. EACH PARTICIPATING AUXILIARY HAS ADOPTED ITS OWN RETIREE WELFARE BENEFIT PLAN AND WILL FUND ITS OBLIGATIONS UNDER ITS PLAN IN THE VEBA.
Activities: THE VEBA ENSURES ALL RETIREE MEDICAL BENEFITS FOR THE PARTICIPATING AUXILIARIES. EACH PARTICIPATING AUXILIARY WILL PAY THE INSURANCE PREMIUMS FOR ITS RETIREES. THE VEBA WILL REIMBURSE EACH AUXILIARY TO THE EXTENT DIRECTED BY THE AUXILIARY. THE VEBA INCURS EXPENSES FOR ADMINISTRATION, INVESTMENT MANAGEMENT, ACCOUNTING AND LEGAL SERVICES. THE EXPENSES WILL BE ALLOCATED TO THE PARTICIPATING AUXILIARIES' SUB-TRUST ACCOUNTS MONTHLY BASED UPON THE BALANCE IN THEIR SUB-TRUST ACCOUNT.
NTEE category: Mutual & Membership Benefit