Section 125 definition
Examples of Section 125 in a sentence
The City has a Flexible Benefits Plan which is consistent with Section 125 of the Internal Revenue Code.
Also pursuant to Section 125 of the Internal Revenue Code, participants may participate in flexible spending accounts to be used for out-of-pocket medical expenses and dependent care expenses on a pretax basis.
HCSA dollars may be expended on any eligible medical expenses allowed by Internal Revenue Code Section 125.
The City has implemented an Internal Revenue Section 125 program which allows employees to allocate specified amounts of monthly pre-tax salary or wages for the reimbursement of health care expenses or dependent care expenses, or both.
The County offers the Premium Conversion Plan (PCP) designed to qualify for tax savings under Section 125 of the Internal Revenue Code, but tax savings are not guaranteed.
ARTICLE 23A FLEXIBLE SPENDING ACCOUNT The City of Lowell will implement an IRS Section 125 Flexible Spending Account (FSA) Plan.
During the term of the MOU, the Town agrees to maintain a Cafeteria Plan, pursuant to Section 125 of the Internal Revenue Code, for the purpose of providing eligible active employees with access to various health and welfare benefits.
Employees may also participate in pre-tax deductions as may be permitted under Section 125 of the IRS Code.
The Plan will allow for pre-tax payroll deductions for unreimbursed medical expenses and child/dependent care expenses in accordance with Section 125 of the Internal Revenue Code.
The premium charges will be paid for as follows: City Employee Blue Cross Blue Shield HMO Blue New England 75% 25% Blue Cross Blue Shield – Blue Care Elect Plan 50% 50% Blue Cross Blue Shield Dental Plan 75% 25% Those bargaining unit employees enrolled in the health, dental and/or life insurance plans may also elect participation in the City’s Section 125 Cafeteria plan for the premiums of the health, dental and/or life insurance plans.