Auxiliaries Multiple Employer Veba

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.