Section 125 Cafeteria Salary Reduction Plan Sample Clauses

Section 125 Cafeteria Salary Reduction Plan. Certified staff may authorize Wabaunsee to reduce salary for all plans contained in the district’s cafeteria plan document. In addition, faculty may retain an authorized annuity deducted from an employee’s monthly paycheck before this program was initiated prior to July 1, 1978. The carrier of the fringe benefit program is selected by the Board of Education. Certified staff must authorize Wabaunsee to expend their fringe benefit allocation each contract year on the form provided by September 1 of that year or they will lose their fringe benefit allocation. No changes will be allowed after September 1.
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Section 125 Cafeteria Salary Reduction Plan. The Board agrees to establish a Section 125 Cafeteria Salary Reduction Plan whereby each eligible professional employee has the right to reduce his/her compensation in an amount necessary to purchase selected non-taxable benefits from those contained in the plan. Each employee will then have the opportunity to reduce his/her compensation in the amount necessary for the Board to purchase those non-taxable benefits selected by said employee. The non-taxable benefits contained in the plan are health insurance, cancer insurance, and/or group term life insurance beyond the $10,000 group life insurance coverage provided by the Board, but not to exceed $50,000. The Plan will be on file in the district office and will be available for review by professional employees during regular office hours.
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Section 125 Cafeteria Salary Reduction Plan. Certified staff may authorize MCV to reduce salary for all plans contained in the district’s cafeteria plan document. In addition, faculty may retain an authorized annuity deducted from an employee’s monthly paycheck before this program was initiated prior to July 1, 1978. The carrier of the fringe benefit program is selected by the Board of Education. Certified staff must authorize MCV to expend their fringe benefit allocation each contract year on the form provided by September 1 of that year or they will lose their fringe benefit allocation. No changes will be allowed after September 1.
Sample 1

Related to Section 125 Cafeteria Salary Reduction Plan

  • Dependent Care Salary Reduction Plan The Employer agrees to maintain the current dependent care salary reduction plan that allows eligible employees, covered by this Agreement, the option to participate in a dependent care reimbursement program for work-related dependent care expenses on a pretax basis as permitted by federal tax law or regulation.

  • Beneficiary Rollovers from Employer-Sponsored Retirement Plans If you are a spouse Beneficiary, nonspouse Beneficiary, or the trustee of an eligible type of trust named as Beneficiary of a deceased employer plan participant, you may directly roll over inherited assets from a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or 457(b) governmental deferred compensation plan to an inherited IRA. The IRA must be maintained as an inherited IRA, subject to the beneficiary distribution requirements.

  • Cafeteria Plan As of the Benefit Commencement Date, New Parkway or any of its Subsidiaries shall establish a cafeteria plan qualifying under Section 125 of the Code (the “New Parkway Cafeteria Plan”) and health care and dependent care flexible spending reimbursement accounts thereunder in which Transferring Employees who meet the eligibility criteria thereof may be immediately eligible to participate. As soon as practicable following the Benefit Commencement Date, the Cousins Group shall determine the aggregate accumulated contributions to the flexible spending reimbursement accounts under Cousin’s cafeteria plan or Legacy Parkway’s cafeteria plan, as applicable, in which such Transferring Employees participated (the “Cousins Cafeteria Plans”) made during the year in which the Distribution Date occurs by the Transferring Employees less the aggregate reimbursement payouts made for such year up to the day immediately prior to the Benefit Commencement Date from such accounts to such Transferring Employees (the “Net FSA Balance”). If the Net FSA Balance is (a) positive, the Cousins Group shall pay to the New Parkway Group an amount in cash equal to the Net FSA Balance or (b) negative, the New Parkway Group shall pay to the Cousins Group, the absolute value of the Net FSA Balance attributable to Transferring Parkway Employees. New Parkway or its applicable Subsidiary shall cause the balance (whether positive or negative) of each Transferring Employee’s accounts under the Cousins Cafeteria Plans as of the Benefit Commencement Date to be credited to the Transferring Employee’s corresponding accounts under the New Parkway Cafeteria Plan in which such Transferring Employee participates following the Benefit Commencement Date. On and after the Benefit Commencement Date, New Parkway shall assume and be solely responsible for all claims for reimbursement by the Transferring Employees with respect to the plan year that includes the Distribution Date, whether incurred prior to, on or after the Distribution Date, that have not been paid in full as of the Benefit Commencement Date, which claims shall be paid pursuant to and under the terms of the New Parkway Cafeteria Plan. New Parkway agrees to cause the New Parkway Cafeteria Plan to honor, through the end of the calendar year in which the Distribution Date occurs, the elections made by each Transferring Employee under the Cousins Cafeteria Plans in respect of the flexible spending reimbursement accounts that are in effect immediately prior to the Benefit Commencement Date.

  • Effective Date of Benefit Termination Medical, dental and life coverage termination will take effect on the first of the month following the loss of eligible employee or dependent status. Disability benefit coverage terminations will take effect on the day following loss of eligible employee status.

  • Employee Contribution Eligible employees shall contribute one percent (1%) of their salary on a per pay period basis to the HCSP.

  • Retirement Plans In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, JHSS shall provide the following administrative services:

  • Full Employer Contribution - Basic Eligibility Employees covered by this Agreement who are scheduled to work at least seventy-five (75) percent of the time are eligible for the full Employer Contribution. This means:

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