Common use of Salary Enhancement Plans Clause in Contracts

Salary Enhancement Plans. IRS Section 414(h)(2)‌ All employees who belong to the retirement system shall have their wages adjusted according to Section 414(h) (2) of the Internal Revenue Code which has the effect of deferring Federal and State income taxes on the employee’s retirement contributions. IRS Section 125 Premium Conversion: The County shall continue, under IRS Code Section 125, to administer a Health Care Premium Conversion Plan that allows eligible employees to make their required contributions towards health premiums with pre-tax dollars through payroll deduction. The County will make no contribution to this plan, however, it will bear the cost of administering this benefit. Health Flexible Spending Account: The County provides a Health Flexible Spending Account (FSA) to enable eligible employees to set aside pre-tax dollars for reimbursement of employee’s qualified medical expenses not reimbursed by the employee’s health insurance plan. Employees may set aside the maximum amount stipulated in the Plan and consistent with the law. Dependent Care Assistance Program The County provides a Dependent Care Assistance Program subject to the limitations and maximums as stipulated under law. All of these plans will be administered by the County in accordance with applicable Federal and State laws as amended and, as such, will not be grievable or arbitrable.

Salary Enhancement Plans. IRS Section 414(h)(2)‌ 414(h)(2) All employees who belong to the retirement system shall have their wages adjusted according to Section 414(h) (2) of the Internal Revenue Code which has the effect of deferring Federal and State income taxes on the employee’s retirement contributions. IRS Section 125 Premium Conversion: The County shall continue, under IRS Code Section 125, to administer a Health Care Premium Conversion Plan that allows eligible employees to make their required contributions towards health premiums with pre-tax dollars through payroll deduction. The County will make no contribution to this plan, however, it will bear the cost of administering this benefit. Health Flexible Spending Account: The County provides a Health Flexible Spending Account (FSA) to enable eligible employees to set aside pre-tax dollars for reimbursement of employee’s qualified medical expenses not reimbursed by the employee’s health insurance plan. Employees may set aside the maximum amount stipulated in the Plan and consistent with the law. Dependent Care Assistance Program The County provides a Dependent Care Assistance Program subject to the limitations and maximums as stipulated under law. All of these plans will be administered by the County in accordance with applicable Federal and State laws as amended and, as such, will not be grievable or arbitrable.