125 FLEXIBLE BENEFIT PLAN CONTRIBUTION. 1. The City shall make a monthly contribution to each eligible member of the unit to be used toward the §125 Flexible Benefit Plan. These funds shall only be used for eligible plans as provided in 26 USCS §125. All excess benefit dollars shall be added to each employee’s taxable earnings. 2. All employees must enroll in one of the PERS health program plans, unless they: a. Submit to the City both proof of health coverage, and, b. Sign a health insurance waiver. c. Employees who fail to complete both requirements shall not be allowed to utilize their §125 Flexible Benefit Plan contributions for any other eligible plans. Employees who meet both requirements shall be allowed to utilize their §125 Flexible Benefit Plan contributions for any of the eligible plans as provided in 26 USCS § 125. 3. The definition of eligible employee for this article shall be as follows: a. Employees who regularly work 30 to 40 hours a week are defined as full-time employees. b. Employees who regularly work 20 to less than 30 hours a week are defined as part-time employees.
Appears in 8 contracts
Samples: Memorandum of Understanding, Memorandum of Understanding, Memorandum of Understanding
