When the Division is receiving a premium reduction under the Employment Insurance Act then, where applicable, the following will apply:
A. The Division shall refund to the Association the teachers’ portion of the premium rebate allowable under the Employment Insurance Act twice a year, at the end of December and the end of June. The June rebate shall include the premium rebate for the months of July and August of that year.
B. Further, the Division shall refund to the Association, the whole of the additional rebate allowable under the Employment Insurance Act that is attributed to the Short Term Disability Plan.