Common use of Administration of Plan Clause in Contracts

Administration of Plan. 9.4.5.1 By June 8th, the University shall advise each enrolled employee with the annual amount in the Spending Account to be allocated to at least one designation. Such designation could include:  depositing it in the University’s group Registered Retirement Savings Plan,  directing it to be paid as taxable income,  directing it to the Health Care Spending Account, or  directing it to their Professional Development Account.  in absence of any selection, all money in the spending account will be allocated to their Professional Development account.

Administration of Plan. 9.4.5.1 By June 8th, the University shall advise each enrolled employee with the annual amount in the Spending Account to be allocated to at least one designation. Such designation could include:  ▪ depositing it in the University’s group Registered Retirement Savings Plan,  ▪ directing it to be paid as taxable income,  ▪ directing it to the Health Care Spending Account, or  ▪ directing it to their Professional Development Account.  ▪ in absence of any selection, all money in the spending account will be allocated to their Professional Development account.