IRC 125 Plan. The District will maintain a program that implements the Internal Revenue Code Section 125 and provides for before tax employee contributions to non-District covered health and dependent care costs.
IRC 125 Plan. By March 1, 2004, the District shall be prepared to implement a voluntary flexible spending account plan under Internal Revenue Code Section 125. The JLMBC will be in charge of selecting a TPA for the plan. Each exclusive bargaining agent that is a party to this agreement shall have the sole authority to determine whether or not to implement this plan for the members of its unit.
IRC 125 Plan. The Employer and designated Representatives of the Certificated Unit agree to work together to put in place an IRC 125 Plan. The parties will work in conjunction with an outside consultant as appropriate and in keeping with legal requirements. Any change in the existing carrier shall be by mutual agreement of the Employer and the Association.
IRC 125 Plan. The District shall establish and maintain an IRC 125 Plan for the benefit of unit members.
IRC 125 Plan. The Employer will provide a flexible spending account benefits program through a third party administrator for all employees (this is a tax-deferred program, paid with pre-tax dollars for health, dependent care expenses and other legal options available under Internal Revenue Code (IRC) 125). All employees covered under the terms of this agreement shall be eligible to participate in the Napa County Office of Education IRC 125 Plan provided they meet the IRC criteria. Some of the components of the plan are: • Excess health insurance premiums • Dependent care • Non-reimbursed medical expenses • Any other legally available options under IRC 125
IRC 125 Plan. The District shall maintain an IRC 125 Plan whereby unit members can pay for out-of-pocket health insurance premiums, excess medical costs, child care, and elder care with pre-tax dollars consistent with carrier requirements. No fee or expenses shall be charged to unit members for implementation and operation of the IRC 125 Plan. In lieu of the $400 IRC 125 contribution, the District will provide a $400 stipend to any unit member who provides proof that s/he has paid at least $400 during the fiscal year towards student loan debt.
IRC 125 Plan. An IRC 125 benefit plan is available to employees for the purposes of providing for the medical, dental, vision, and dependent care for unit members and their dependents and retirees and their dependents. The District shall provide for financing the operation and administration of the IRC 125 plan with the District Insurance Committee deciding costs (fees) of the plan administrator. At the end of each fiscal year, the District shall contribute to the self-insurance fund an amount equal to the money not spent by unit members covered by this IRC 125 plan which shall be used to offset future costs of the District’s benefits plans. The IRC 125 plan shall be for the sole purposes of providing childcare, elder care, the employee’s contribution toward medical insurance premiums, and out-of-pocket expenses for medical, dental, and vision care and shall be held in an interest- bearing trust account. The selection of a licensed independent third party IRC 125- plan administrator shall be made by the District Insurance Committee. Such administrator shall not advertise, sell or otherwise influence plan participants with any other product marketed by the administrator. Administrative costs shall be subject to Governing Board approval.
IRC 125 Plan. The Board will continue to provide those sections of Internal Revenue Code Section 125 which provide for before tax employee contributions to non-Board covered health and dependent care costs.
IRC 125 Plan. The city shall maintain its current flexible benefit plans under IRC Section 125. An employee who elects to participate in any of the above plans shall have the option of funding same in one or all of the following manners: (1) payroll deduction in an amount divisible evenly by 24 which shall be deducted from the first and second paychecks each month or (2) designation of earnings upon which pension is not based, if permissible.
