Section 125 Flexible Benefits Plan Sample Clauses

Section 125 Flexible Benefits Plan. Association members shall be eligible to participate in the 125 Plan (premium only).
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Section 125 Flexible Benefits Plan. The District will make available to each eligible employee a Dependent Care Assistance Plan and a Medical Expense Reimbursement Plan that may be elected by an employee on an annual basis, said Plans to be effective September 1 of each fiscal year. An employee may allocate up to the IRS limit (currently at $5,000) annually for the Dependent Care Assistance Plan. The annual limit for the Medical Expense Reimbursement Plan will be announced during the enrollment period each fiscal year.
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Section 125 Flexible Benefits Plan. Bargaining unit members have the option to participate in the 125 Flexible Benefits Plan. This Plan allows employees to participate in medical reimbursement, dependent care reimbursement, and premium pass-through of employee contributions for insurances, together with annual carryover, up to the IRS maximum per the Plan. Information regarding this Plan is available through the Treasurer's office. There is an open enrollment period once during the calendar year. Any money left unused beyond the IRS maximum carryover in the medical reimbursement account plus any unused funds in the dependent care reimbursement accounts at the end of the calendar year plus two months and a half will be neither refundable nor usable at any time in the future. Should a 125 Flexible Benefits Plan participant separate from employment at any time prior to the end of the calendar year, they will be responsible to repay the Board of Education for any medical reimbursements that exceed the balance of available funds in the member’s 125 Flexible Benefits Plan account at the time that their employment ends. The Flexible Benefits Plan’s medical reimbursement amount shall move to the IRS maximum.
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Section 125 Flexible Benefits Plan. Bargaining unit members have the option to participate in the 125 Flexible Benefits Plan. This Plan allows employees to participate in medical reimbursement up to $2,500 (or to the IRS maximum per the Plan) with $500 annual carryover; dependent care reimbursement up to $5,000 to be spent within 14 ½ months per the Plan; and premium pass-through of employee contributions for insurances. Information regarding this Plan is available through the Treasurer's office. There is an open enrollment period once during the calendar year. Any money left unused beyond the $500 carryover in the medical reimbursement account plus any unused funds in the dependent care reimbursement accounts at the end of the calendar year plus two months and a half will be neither refundable nor usable at any time in the future. Should a 125 Flexible Benefits Plan participant separate from employment at any time prior to the end of the calendar year, s/he will be responsible to re-pay the Board of Education for any medical reimbursements that exceed the balance of available funds in the member’s 125 Flexible Benefits Plan account at the time that their employment ends. Effective January 1, 2020 the Flexible Benefits Plan’s medical reimbursement amount shall move to the IRS maximum.
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Section 125 Flexible Benefits Plan. The Manchester Board of Education agrees to establish a Section 125 Flexible Benefits Plans subject to Federal and State Law and IRS Rules and Regulations. The Board will modify its Section 125 Plan to:
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Section 125 Flexible Benefits Plan. A. Bargaining unit members have the option to participate in the 125 Flexible Benefits Plan. This Plan allows employees to participate in medical reimbursement up to the IRS maximum per the Plan with permissible annual carryover; dependent care reimbursement per the Plan; and premium pass-through of employee contributions for insurances. Information regarding this Plan is available through the Treasurer’s office. There is an open enrollment period once during the calendar year.
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Section 125 Flexible Benefits Plan. The District will maintain a Section 125 Flexible Spending Account Plan to allow participants to use tax laws to their advantage in funding medical insurance premium contributions, waiver options, medical/dental co-payments, unreimbursed medical expenses, and dependent care expenses as permitted by law.
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Section 125 Flexible Benefits Plan. The Manchester Board of Education agrees to maintain a Section 125 Flexible Benefits Plans subject to Federal and State Law and IRS Rules and Regulations. The Section 125 Plan will provide for pre-tax treatment of dependent care expenses, subject to the provisions of Section 125 of the Internal Revenue Code. The Board of Education reserves the right to use a third party to administer the Section 125 Flexible Benefits Plan. If a third party is used to administer the 125 flexible benefits plan, the Board shall pay the set-up fee for such accounts and the nurses shall pay the monthly service fee if required.
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Section 125 Flexible Benefits Plan. West-Comm, via the JPA Member Party designated to administer fringe benefits for West-Comm personnel, shall maintain a flexible benefits benefit plan which will allow affected employees to utilize pre-tax dollars for health care, dependent day care and premium expense contributions.
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Related to Section 125 Flexible Benefits Plan

  • Flexible Benefits Plan A flexible benefits plan, which is in accordance with Section 125 of the Internal Revenue Code, was implemented for eligible employees covered by this Agreement on October 1, 1990.

  • Flexible Benefit Plan The Board shall provide the following flexible benefit plan to employees who are paid more than twenty (20) hours per week, if employed prior to July 1, 2012. All employee benefits plans provided by the Board under this article shall have plan years based on the calendar year. Effective July 1, 2012, the Board shall provide the following flexible benefit plan to employees who hold the position of Food Service Manager. No Coverage - Employees who produce proof of other medical insurance coverage may elect no coverage. Those electing no coverage as of June 30, 2001, will receive a cash "buy-out" equal to 40% of the annual premium for the “Point-of-Service Plan Individual Coverage” up to $1,200.44 per year. Any employee receiving a cash “buy-out” who elects coverage on or after July 1, 2001 will no longer receive a cash “buy-out” at a later date. DENTAL Traditional - See Traditional Dental Chart below. No Coverage - Employees may elect no coverage. Those electing no coverage as of June 30, 2001, will receive a cash "buy-out" equal to 40% of the annual premium for "Traditional Individual Coverage” up to $89.70 per year. Any employee receiving a cash “buy-out” who elects coverage on or after July 1, 2001 will no longer receive the cash “buy-out” at a later date. TRADITIONAL DENTAL No Deductible Per Person Per Calendar Year Deductible* Per Person Per Calendar Year Deductible* 100%** 80%** 50%** Emergency treatment Oral examinations X-Rays Teeth cleaning Fluoride treatments for children to age 19 Space maintainers Laboratory tests Fillings Amalgam Silicate Acrylic Root canal Repair and maintenance of bridgework and dentures Periodontal services Extractions and other oral surgery Anesthesia Gold and porcelain fillings and crowns Installation of bridgework and crowns Orthodontia (Subject to separate $2,500 lifetime maximum per person) – Effective January 1, 2017 Major Services Preventative Services Basic Services $1,500 Per Person - Calendar Year Maximum** $2,000 Per Person – Calendar Year Maximum** Effective January 1, 2017 * $50 per person; $150 - Family maximum - when three (3) Family Members have each met the $50 Deductible - See the Schedule of Insurance. **Paid by Traditional Dental.

  • Section 125 Plan The Trustees shall continue the Section 125 plan to allow pretax treatment of the employee’s share of health and dental insurance premiums. The plan will be available as soon as practicable, but no later July 1, 1998. The plan will be amended to include a medical reimbursement account and a dependent care reimbursement account to be available for enrollment no earlier than July 1, 2003, but no later than December 31, 2003.

  • RETIREE HEALTH SAVINGS PLAN Effective, December 24, 2006, or as soon as administratively possible, the County shall establish a retiree health savings plan (RHSP) by contributing an amount of $25.00 to the employee’s RHSP each biweekly pay period.

  • Flexible Flexible and agile in practices, process, and guidelines to recognise and reward performance;

  • Cafeteria Plan As of the Benefit Commencement Date, New Parkway or any of its Subsidiaries shall establish a cafeteria plan qualifying under Section 125 of the Code (the “New Parkway Cafeteria Plan”) and health care and dependent care flexible spending reimbursement accounts thereunder in which Transferring Employees who meet the eligibility criteria thereof may be immediately eligible to participate. As soon as practicable following the Benefit Commencement Date, the Cousins Group shall determine the aggregate accumulated contributions to the flexible spending reimbursement accounts under Cousin’s cafeteria plan or Legacy Parkway’s cafeteria plan, as applicable, in which such Transferring Employees participated (the “Cousins Cafeteria Plans”) made during the year in which the Distribution Date occurs by the Transferring Employees less the aggregate reimbursement payouts made for such year up to the day immediately prior to the Benefit Commencement Date from such accounts to such Transferring Employees (the “Net FSA Balance”). If the Net FSA Balance is (a) positive, the Cousins Group shall pay to the New Parkway Group an amount in cash equal to the Net FSA Balance or (b) negative, the New Parkway Group shall pay to the Cousins Group, the absolute value of the Net FSA Balance attributable to Transferring Parkway Employees. New Parkway or its applicable Subsidiary shall cause the balance (whether positive or negative) of each Transferring Employee’s accounts under the Cousins Cafeteria Plans as of the Benefit Commencement Date to be credited to the Transferring Employee’s corresponding accounts under the New Parkway Cafeteria Plan in which such Transferring Employee participates following the Benefit Commencement Date. On and after the Benefit Commencement Date, New Parkway shall assume and be solely responsible for all claims for reimbursement by the Transferring Employees with respect to the plan year that includes the Distribution Date, whether incurred prior to, on or after the Distribution Date, that have not been paid in full as of the Benefit Commencement Date, which claims shall be paid pursuant to and under the terms of the New Parkway Cafeteria Plan. New Parkway agrees to cause the New Parkway Cafeteria Plan to honor, through the end of the calendar year in which the Distribution Date occurs, the elections made by each Transferring Employee under the Cousins Cafeteria Plans in respect of the flexible spending reimbursement accounts that are in effect immediately prior to the Benefit Commencement Date.

  • Salaried Employees 1. Employees in this unit who qualify for exemption from the FLSA overtime provisions based upon duties and who are assigned to a class or pay grade, if the class has multiple pay grades, with a top step regular biweekly rate, without bonuses, above the top step regular biweekly rate for the class of Shift Superintendent Wastewater Treatment I shall be treated as salaried employees, in accordance with the provisions of the FLSA as identified in Los Angeles Administrative Code section 4.113(b). Salaried employees may be assigned 5/40, 4/10, 9/80 or other schedules at the discretion of Management. Notwithstanding any LAAC and MOU provisions, or other City department rules and regulations to the contrary, these employees shall not be required to record specific hours of work for compensation purposes, although hours may be recorded for other purposes. These employees will be paid the predetermined salary for each biweekly pay period, as indicated in the appropriate salary appendices, and shall not receive overtime compensation. Salaried employees shall not be subject to deductions from salary or any leave banks for absence from work for less than a full workday. This provision applies to occasional partial day absences from work which is authorized by the appropriate supervisor designated by management. This provision does not apply to long-term or recurring partial day absences (e.g., intermittent leave/reduced work schedule for purposes of Family/Medical Leave). Salaried employees shall not be subject to disciplinary suspension for a period of less than a workweek (seven days; half of the biweekly pay) unless based on violations of a safety rule of major significance. This requirement shall be superseded by the revised Department of Labor FLSA regulations pertaining to disciplinary suspensions of FLSA-exempt employees on the operative date of the FLSA regulations. The appointing authority of each City department may grant time off for hours worked due to unusual situations.

  • 401K Plan The Company presently offers its employees a 401k plan with a Company match to be determined annually by the Compensation Committee of the Board of Directors. You may elect to contribute pre-tax deferrals through payroll deduction pursuant to the terms of the 401k plan.

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