Examples of Adoption Agreement in a sentence
If elected by the Employer in the Adoption Agreement, the Medical Expense Reimbursement Account portion of the Plan is intended to qualify under Code Section 105, and reimbursements paid there under are intended to be eligible for exclusion from a Participant's income under Section 105(b) of the Code.
If a Participant incurs aggregate expenses qualifying for reimbursement during the Plan Year of less than the dollar amount of coverage he elects for a Plan Year, any amount remaining in the Participant's Medical Expense Reimbursement Account (payroll deductions minus reimbursements) as of the end of the Plan Year, or the end of the Extension Period, if elected by the Employer in the Adoption Agreement, shall be forfeited.
Benefit Dollars which are credited to the Account of a Participant (except for those attributable to Participant After-Tax Benefit Dollars) on the last day of the Plan Year, or the last day of the Extension Period, if elected by the Employer in the Adoption Agreement, will be forfeited by the Participant.
If elected by the Employer in the Adoption Agreement, the Dependent Care Reimbursement Account portion of the Plan is intended to qualify under Code Section 129, and the reimbursements paid there under are intended to be eligible for exclusion from a Participant's income under Section 129(a) of the Code.
I agree to the terms of my Account, which are contained in the applicable provisions of the document entitled Constellation Trust Company Traditional/Xxxx Individual Retirement Account Custodial Agreement and this Adoption Agreement.