Section 125 Pre-Tax Contribution. In accordance with Public Act No. 07-185, any employee for which any portion of the premiums for health insurance are deducted from the employees’ pay shall be offered the opportunity to have such portion excluded from their gross income for state or federal income tax purposes, except as required under Section 125 of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, from time to time amended. In order to be eligible for this benefit, a Salary Reduction Agreement signed by the employee must be submitted.
Appears in 4 contracts
Section 125 Pre-Tax Contribution. In accordance with Public Act No. 07-185, 185 any employee for which any portion of the premiums for health insurance are deducted from the employees’ pay shall be offered the opportunity to have such portion excluded from their gross income for state or federal income tax purposes, except as required under Section 125 of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, from time to time amended. In order to be eligible for this benefit, benefit a Salary Reduction reduction Agreement signed by the employee must be submitted.
Appears in 3 contracts
Samples: Agreement, Agreement Between Town of Rocky Hill And, Agreement
Section 125 Pre-Tax Contribution. In accordance with Public Act No. 07-185, any employee for which any portion of the premiums for health insurance are deducted from the employees’ pay shall be offered the opportunity to have such portion excluded from their gross income for state or federal income tax purposes, except as at required under Section 125 of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code Internal Revenue Code of the United States, from time to time amended. In order to be eligible for this benefit, a Salary Reduction Agreement signed by the employee must be submitted.
Appears in 1 contract
Samples: Agreement
