125 Plan definition
Examples of 125 Plan in a sentence
The Section 125 Plan (Flexible Spending Plan) offered by the School District is a plan established to provide a way to save money on costs for medical and dependent care expenses.
For purposes of Section 5(c) of this Agreement, Base Salary shall be defined as the amount reported in Box 1 of the Executive’s Form W-2, plus amounts deferred under the Bank’s 401(k) Plan and/or Section 125 Plan (if any), or deferred at the Executive’s election or on behalf of the Executive to any non-qualified deferred compensation plan of the Bank or the Company.
Employee medical premium payments can be made via a pre-tax Section 125 Plan option when available.
Employees electing to participate in this 125 Plan shall be responsible for any required monthly administration fees.
Premium costs for eligible group insurance plans will be processed through the 125 Plan (flexible spending plan) with the Agency paying the administrative fee for the insurance premium account.
This comprehensive program currently covers medical and dental benefits, life and disability insurances, and a Section 125 Plan.
Part-time employees may utilize the IRS Section 125 Plan for payments.
The District shall provide for full- time employees, an Internal Revenue Service Section 125 Plan, with a District approved program administrator, to cover medical and dependent care expenses.
During open enrollment or within 30 days of a qualifying event (as defined by the County of Marin Section 125 Plan), any employee covered by this Agreement may make written application to the Human Resources Director for waiver of required participation in a County medical plan if said employee provides acceptable proof of equivalent coverage in a group plan through other sources.
To the extent allowable by law or regulation, the Employee may sign an agreement authorizing that any such premium amounts be payroll deducted through the Board's Section 125 Plan.