§ 203-122. Establishment of 115 Trust for Funding of Healthcare Benefits.

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The Board and the City shall establish a separate trust, pursuant to IRC Section 115, for the purpose of funding healthcare benefits provided under this Chapter. The Board and the City shall adopt a trust agreement establishing the applicable terms for the 115 Trust. Except as provided by the Collaborative Settlement Agreement, healthcare benefits provided by this Chapter are subject to reduction, increase, modification or elimination by the City.

(Ordained by Ord. No. 336-2016, § 2, eff. Nov. 26, 2016)

                    
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