Salary Reduction means the amount by which the Participant's Compensation is reduced and applied by the Employer under this Plan to pay for one or more of the Benefits, as permitted for the applicable Component, before any applicable state and/or federal taxes have been deducted from the Participant's Compensation (i.e., on a pre-tax basis).

Salary Reduction means the amount by which the Participant’s Compensation is reduced and applied by the Employer under this Health Care FSA to pay for Benefits and the Administrative Fee, before any applicable state and federal taxes have been deducted from the Participant’s Compensation.

Salary Reduction means a specified amount by which a Participant’s Compensation is decreased, pursuant to a Salary Reduction Election, for federal income tax and Social Security tax purposes and, wherever permitted, under applicable law for state and local income tax purposes.

Examples of Salary Reduction in a sentence

An Eligible Employee can (a) elect benefits under the Premium Payment Component by electing to pay for his or her share of the Contributions for Medical Insurance Benefits on a pretax Salary Reduction basis (Premium Payment Benefits); or (b) elect no benefits under the Premium Payment Component and to pay for his or her share of the Contributions, if any, for Medical Insurance Benefits with after-tax deductions outside of this Plan.
In other words, unless an exception applies, the Participant may not change any elections for the duration of the Period of Coverage regarding: - Participation in this Plan;- Salary Reduction amounts; or- election of particular Benefit Package Options.
This Plan is designed to allow an Eligible Employee to pay for his or her share of Contributions under one or more Insurance Plans on a pre-tax Salary Reduction basis.
In the event that contributions need to be reduced for a class of Participants, the Plan Administrator will reduce the Salary Reduction amounts for each affected Participant, beginning with the Participant in the class who had elected the highest Salary Reduction amount and continuing with the Participant in the class who had elected the next-highest Salary Reduction amount, and so forth, until the defect is corrected.
Even though this Plan may allow pre-tax Salary Reduction contributions to an HSA, the HSA is not intended to be an ERISA benefit plan sponsored or maintained by the Employer.

More Definitions of Salary Reduction

Salary Reduction means the amount by which the Participant’s Compensation is reduced and applied by the Employer under this Plan, as permitted, before any applicable Social Security and federal taxes have been deducted from the Participant’s compensation (i.e., on a pre-tax basis).

Salary Reduction means the amount by which the Participant’s Compensation is reduced and applied by the Employer under this Plan to pay for one or more of the Benefits, as permitted for the applicable Component, before any applicable state and/or federal taxes have been

Salary Reduction means the amount by which the Participant's Compensation is reduced and applied by the Employer under this Plan to pay for one or more of the benefits provided under this Plan.

Salary Reduction means: (a) the voluntary reduction of an Employee’s Compensation made in consideration of such Employee’s participation in the Pre-Tax Premiums and/or Flexible Spending Accounts pursuant to an Election, and (b) the dollar amount of such reduction.

Salary Reduction means: (a) the voluntary reduction of an Employee’s Compensation made in consideration of such Employee’s participation in the Premium Only Plan, Flexible Spending Accounts, and/or the Health Savings Account pursuant to an Election; and (b) the dollar amount of such reduction.

Salary Reduction means the amount of a Participant’s Compensation which has been reduced pursuant to Section 3(b).