District policy requires that your sick leave buyback upon retirement is remitted to the VEBA Trust. If you qualify, your annual sick leave buyback may also be remitted to the VEBA Trust.
The payment to VEBA is currently non-taxable for social security and federal income tax and the amount is excluded under Internal Revenue Code 419. Therefore, contributions you make to the Trust can save you money on taxes.
You can use your VEBA account to reimburse eligible out-of-pocket healthcare costs and premiums for you, your spouse, and qualified dependents.
For more information call 1-800-828-4953, visit the VEBA Trust website or email email@example.com.