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Keene council establishes employee benefits trust fund to capture premium tax savings
Summary
Council created a single‑employer employee benefits trust to retain premium‑tax components otherwise remitted to the state and to reduce insurance program costs.
Keene — The City Council unanimously approved a resolution authorizing the creation of the City of Keene Employee Benefits Trust (EBT), a single‑employer trust established under the Texas Insurance Code to allow the city to retain premium taxes that otherwise would be remitted to the state.
Why it matters: Council and the city’s broker explained that Chapter 222 of the Texas Insurance Code permits a qualifying single nonprofit trust to receive…
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