Section 125 Administration Clause Samples
Section 125 Administration. The District will maintain without cost to the Union a qualified Section 125 Plan. The plan will offer qualifying Employees an option to select salary reduction, premium conversion, medical reimbursement, dependent care, and/or cash payment in lieu of health care coverage. Any eligible custodial maintenance, custodial Employee or secretary not electing health insurance protection will have One Hundred and No/100 ($100.00) Dollars per month applied toward the plan.
Section 125 Administration. If IRS Rule changes threaten the tax exempt status of the Section 125 Plan, the parties will meet and confer regarding modifications to the Plan to allow it to retain its tax exempt status. To ensure this Section 125 plan shall not incur unreasonable costs, special coverage limits or exclusions may apply. If benefit options in effect as of ratification of this Agreement are no longer offered by the carrier during the term of this Agreement, MST shall notify MSTEA of changes in available benefits, and the parties shall meet and confer regarding this impact of the change, including alternate benefits or plan design. MST may also meet and confer with MSTEA as to the need or advantage to add, remove or modify benefit options (including, but not limited to, coverage levels and limits, deductible, and co-pay requirements) to this during the term of this Agreement without mutual agreement of the parties.
Section 125 Administration. The District will maintain without cost to the Union a qualified Section 125 Plan. The plan will offer qualifying Employees an option to select salary reduction of health insurance and health plan (AFLAC).