Plan 125 Sample Clauses

The "Plan 125" clause establishes the terms and conditions for participation in a Section 125 cafeteria plan, which allows employees to pay for certain benefits with pre-tax dollars. Typically, this clause outlines eligibility requirements, enrollment procedures, and the types of benefits that can be selected, such as health insurance premiums, dependent care assistance, or flexible spending accounts. By defining these parameters, the clause enables employees to reduce their taxable income while ensuring the employer complies with IRS regulations, ultimately providing tax savings and benefit flexibility for both parties.
Plan 125. The Board shall select a carrier for a Section 125 plan available to each member of the bargaining unit. There will be no maintenance charges to the Board. Bargaining unit members shall have the right to participate in all phases of the 125 plan (i.e. medical premium, medical out of pocket and qualified dependent care.) All employees must annually sign the form to participate in the program or to decline participation.
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Plan 125. All employee contribution for Hospitalization/Dental Coverage are deducted on a pre-tax basis toward their share of the cost of the benefits. The employee should refer to the Summary Plan Description of the Benefit Plan for the Employees of Conn-Selmer, Inc. for details regarding this program.
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Plan 125. The district offers an IRS Section 125 plan and flexible spending accounts for medical expenses and dependent care to members of the business office.
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Plan 125. The Board shall select a carrier for a Section 125 Plan available to each member of the bargaining unit. Bargaining unit members shall have the right to participate in all phases of the 125 Plan (e.g. medical premium, medical out of pocket and qualified dependent care).
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Plan 125. A plan under Internal Revenue code Section 125 shall be adopted for every member of the bargaining unit who qualifies. Each bargaining unit member who is qualified shall have the right to participate in the Section 125 plan.
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Plan 125. The District shall maintain an IRS Section 125 plan and make available to members of the bargaining unit Flexible Spending Accounts for medical expenses and dependent care.
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Plan 125. An employee may choose to have their employee contribution for Hospitalization/Dental Coverage deducted on a pre-tax basis toward their share of the cost of the benefits. The employee should refer to the Summary Plan Description of the Benefit Plan for the Employees of United Musical Instruments U.S.A., Inc. for details regarding this program.
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Plan 125. The Board of Education agrees to establish an IRC Section 125 "Cafeteria" Fringe Benefit Plan for the professional employees of the District. The options to be included in the Plan are: cancer insurance, short- term disability (salary protection) insurance, dental insurance, dependent care expenses, and medical reimbursement expense. Although it is not currently anticipated that the Board will terminate this Plan, the Board necessarily reserves the right to amend the Plan as it determines and the right to terminate the Plan at an indefinite time in the future.
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Plan 125 
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Related to Plan 125

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • Section 125 Plan The Trustees shall continue the Section 125 plan to allow pretax treatment of the employee’s share of health and dental insurance premiums. The plan will be available as soon as practicable, but no later July 1, 1998. The plan will be amended to include a medical reimbursement account and a dependent care reimbursement account to be available for enrollment no earlier than July 1, 2003, but no later than December 31, 2003.

  • 125 Plan The Board will maintain a Section 125 plan for premiums only in addition to a flexible account that includes eligible medical expenses and dependent care expenses with participating employees paying whatever the administrative charge is to run the 125 Plan.

  • 401(k) Plan Executive shall be entitled to participate in the Company’s 401K plan in accordance with its terms and conditions.

  • Plan The Award and all rights of the Participant under this Agreement are subject to the terms and conditions of the provisions of the Plan, incorporated herein by reference. The Participant agrees to be bound by the terms of the Plan and this Agreement. The Participant acknowledges having read and understanding the Plan, the Prospectus for the Plan, and this Agreement. Unless otherwise expressly provided in other sections of this Agreement, provisions of the Plan that confer discretionary authority on the Board or the Administrator do not (and shall not be deemed to) create any rights in the Participant unless such rights are expressly set forth herein or are otherwise in the sole discretion of the Board or the Administrator so conferred by appropriate action of the Board or the Administrator under the Plan after the date hereof.