Common use of FLEXIBLE FRINGE BENEFIT PROGRAM Clause in Contracts

FLEXIBLE FRINGE BENEFIT PROGRAM. 1601 The benefits provided to employees by Section 125 of the Internal Revenue Act of 1978 shall be made available to any bargaining unit members so requesting and upon approval by the Internal Revenue Service. An amount not to exceed $2,500 annually may be set aside by the employee for the selection of benefits under Section 125 of the Internal Revenue Code, which are non-taxable benefits of Medical Insurance, Dental Insurance, Vision Insurance, Section 79 Life Insurance, Non-Reimbursed Medical Expenses, and Dependent Care. The Board shall pay the fees for the Trust Account. Participants in the reimbursement account(s), shall pay the monthly administration fee.