Section 125 Salary Reduction Benefits. The Board of Education shall furnish employees of USD 434, Osage County, with a choice of receiving certain tax-free benefits provided by the district in lieu of taxable compensation. It is the intention of the district that the plan qualifies as a salary reduction “Cafeteria Plan” within the meaning of Section 125 (d) of the Internal Revenue Code of 1954, as amended, and that the benefits which an employee elects to receive under the Plan be eligible for exclusion from such employee’s income under Section 125 (a) of the Internal Revenue Code of 1954, as amended. Provided further the sum of money to be used by the professional employee toward the purchase of nontaxable benefits shall not exceed $2600 per year for medical expenses or $5000 per year for dependent care expenses in 2017. The amount shall be determined by the professional employees once each year on or before August 30, unless such date falls on or during a school holiday, vacation or weekend. The date would then be the last previous working day. These benefits, which are hereinafter referred to as the “plan,” may include (1) health insurance (hospitalization), (2) vision insurance, (3) dental insurance, (4) childcare expense, and (4) unreimbursed medical expense. A teacher deciding to reduce his/her salary must provide written notice to the superintendent, on forms provided by the superintendent, on or before August 30 for new employees (for either health or disability insurance) or prior employees selecting enrollment in disability insurance and August 30 of each year for current employees selecting new enrollment in either health or disability insurance. (Current employees may enroll in the health insurance program only on the policy anniversary.) Teachers who become employed after the school year begins may enroll in the health and/or disability insurance plan within 30 days after the date of employment. The notification shall include the dollar amount of salary reduction and the benefits desired. The benefits or the amount of salary reduction may not be changed during the plan year except changes in the amount of salary reduction will be allowed upon a change of family status of the employee as provided in the plan agreement or in the event of a termination of one of the plan benefits. In the event of a premium refund from the participating health insurance company, such refund shall be returned to the teachers in the proportion of the share of the cost assumed by each individual teacher.
Section 125 Salary Reduction Benefits. The Board of Education shall furnish employees of USD 434, Osage County, with a choice of receiving certain tax-free benefits provided by the district in lieu of taxable compensation. It is the intention of the district that the plan qualify as a salary reduction “Cafeteria Plan” within the meaning of Section 125 (d) of the Internal Revenue Code of 1954, as amended, and that the benefits which an employee elects to receive under the Plan be eligible for exclusion from such employee’s income under Section 125 (a) of the Internal Revenue Code of 1954, as amended. Provided further the sum of money to be used by the professional employee toward the purchase of nontaxable benefits shall not exceed $1,800 per month. The amount shall be determined by the professional employees once each year on or before August 30, unless such date falls on or during a school holiday, vacation or weekend. The date would then be the last previous working day. These benefits, which are hereinafter referred to as the “plan,” may include: (1) health insurance (hospitalization), (2) vision insurance, (3) dental insurance, (4) childcare expense, and (4) unreimbursed medical expense. A teacher deciding to reduce his/her salary must provide written notice to the superintendent, on forms provided by the superintendent, on or before August 30 for new employees (for either health or disability insurance) or prior employees selecting enrollment in disability insurance and August 30 of each year for current employees selecting new enrollment in either health or disability insurance. (Current employees may enroll in the health insurance program only on the policy
