Common use of Plan Status Clause in Contracts

Plan Status. This Plan is intended to qualify as a cafeteria plan under Section 125 of the Internal Revenue Code of 1986. 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. 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.

Plan Status. This Plan is intended to qualify as a cafeteria plan under Section 125 of the Internal Revenue Code of 1986. 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. 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. .