Common use of Section 125 Plan Clause in Contracts

Section 125 Plan. The Employer agrees to continue its current Internal Revenue Service Code Section 125 Plan to provide an opportunity for unit members to voluntarily participate in a flexible spending account, subject to provisions of IRS Code Section 125. Unit members may choose to set aside an amount from their paychecks only, which is not taxed, in a medical or dependent care account for payment of eligible expenses.

Section 125 Plan. The Employer Board agrees to continue its current Internal Revenue Service Code Section 125 Plan to provide an opportunity for unit members employees to voluntarily participate in a flexible spending account, subject to provisions of IRS Code Section 125. Unit members Employees may choose to set aside an amount from their paychecks only, which is not taxed, in a medical or dependent care account for payment of eligible expenses.