Common use of Pre-tax Benefits Clause in Contracts

Pre-tax Benefits. Enrollment in a Pre-tax Dependent Care and Pre-tax Insurance Premium Program offered by the City of Columbus or its appointed administrator will be offered to new employees at the time of hire; existing employees may enroll during Open Enrollment month each year. Insurance Premiums. Each participant who elects to pre-tax the monthly insurance premium must complete the necessary election form, which authorizes the City payroll to pre-tax that premium. Dependent Care Program. Each participating employee who elects to enroll in the Dependent Care Program will determine an amount to be pre-taxed biweekly through payroll deduction. The annual pre-tax limit, determined by each participant, shall not conflict with IRS limits identified in Internal Revenue Code. Amendments to the annual pre-tax maximum can only occur during Open Enrollment month, on the annual plan renewal date, or when a change in status occurs. Participants will submit allowable claims to the City's plan administrator. Remittance from the participant's Dependent Care account will be sent directly to each plan participant. Amounts for which a participant does not have an eligible claim will be forfeited at the end of each plan year. These pre-tax plans will remain in effect so long as they continue to be authorized by the Internal Revenue Code.

Pre-tax Benefits. Enrollment in a Pre-tax Dependent Care and Pre-tax Insurance Premium Program offered by the City of Columbus or its appointed administrator will be offered to new employees at the time of hire; existing employees may enroll during the Open Enrollment month period each year. Insurance Premiums. Each participant who elects to pre-tax the monthly insurance premium must complete the necessary election form, which authorizes the City payroll to pre-tax that premium. Dependent Care Program. Each participating employee who elects to enroll in the Dependent Care Program will determine an amount to be pre-taxed biweekly through payroll deduction. The annual pre-tax limit, determined by each participant, shall not conflict with IRS limits identified in Internal Revenue Code. Amendments to the annual pre-tax maximum can only occur during the Open Enrollment monthperiod, on the annual plan renewal date, or when a change in status occurs. Participants will submit allowable claims to the City's plan administrator. Remittance from the participant's Dependent Care account will be sent directly to each plan participant. Amounts for which a participant does not have an eligible claim will be forfeited at the end of each plan year. These pre-tax plans will remain in effect so long as they continue to be authorized by the Internal Revenue Code.