Common use of Allocation of Flex Credits Clause in Contracts

Allocation of Flex Credits. All allocations of Flex Credits must be made in fifty-dollar ($50) increments. • This election must be made by November 30th of the year prior to the calendar year in which the credits will be allocated to the various accounts. Only one (1) election may be made in any year. • The election as to the allocation of Flex Credits rests exclusively with the employee and once made is irrevocable. • Where an employee fails to make an election for the Flex Credits, as an automatic default, one hundred percent (100%) will be automatically credited to the employee’s HCSA, with no allocation to the Taxable Wellness Account.

Appears in 4 contracts

Samples: Collective Agreement, Collective Agreement, Collective Agreement

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Allocation of Flex Credits. All allocations of Flex Credits must be made in fifty-fifty dollar ($50) increments. • This election must be made by November 30th of the year prior to the calendar year in which the credits will be allocated to the various accounts. Only one (1) election may be made in any year. • The election as to the allocation of Flex Credits rests exclusively with the employee and once made is irrevocable. • Where an employee fails to make an election for the Flex Credits, as an automatic default, one hundred percent per cent (100%) will be automatically credited to the employee’s HCSA, with no allocation to the Taxable Wellness Spending Account.

Appears in 4 contracts

Samples: Memorandum of Agreement, Collective Agreement, Collective Agreement

Allocation of Flex Credits. All allocations of Flex Credits must be made in fifty-dollar ($50) increments. • This election must be made by November 30th of the year prior to the calendar year in which the credits will be allocated to the various accounts. Only one (1) election may be made in any year. • The election as to the allocation of Flex Credits rests exclusively with the employee and once made is irrevocable. • Where an employee fails to make an election for the Flex Credits, as an automatic default, one hundred percent per cent (100%) will be automatically credited to the employee’s HCSA, with no allocation to the Taxable Wellness Spending Account.

Appears in 3 contracts

Samples: Collective Agreement, Collective Agreement, Collective Agreement

Allocation of Flex Credits. All allocations of Flex Credits must be made in fifty-dollar ($50) increments. • This election must be made by November 30th of the year prior to the calendar year in which the credits will be allocated to the various accounts. Only one (1) election may be made in any year. • The election as to the allocation of Flex Credits rests exclusively with the employee and once made is irrevocable. • Where an employee fails to make an election for the Flex Credits, as an automatic default, one hundred percent (100%) will be automatically credited to the employee’s 's HCSA, with no allocation to the Taxable Wellness Account.

Appears in 2 contracts

Samples: Collective Agreement, Collective Agreement

Allocation of Flex Credits. All allocations of Flex Credits must be made in fifty-dollar ($50) increments. • This election must be made by November 30th of the year prior to the calendar year in which the credits will be allocated to the various accounts. Only one (1) election may be made in any year. • The election as to the allocation of Flex Credits rests exclusively with the employee and once made is irrevocable. • Where an employee fails to make an election for the Flex Credits, as an automatic default, default one hundred percent (100%) will be automatically credited to the employee’s HCSA, with no allocation to the Taxable Wellness Spending Account.

Appears in 1 contract

Samples: Letter of Agreement

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Allocation of Flex Credits. All allocations of Flex Credits must be made in fifty-dollar fifty‐dollar ($50) increments. • This election must be made by November 30th of the year prior to the calendar year in which the credits will be allocated to the various accounts. Only one (1) election may be made in any year. • The election as to the allocation of Flex Credits rests exclusively with the employee and once made is irrevocable. • Where an employee fails to make an election for the Flex Credits, as an automatic default, one hundred percent (100%) will be automatically credited to the employee’s HCSA, with no allocation to the Taxable Wellness Account.

Appears in 1 contract

Samples: Collective Agreement

Allocation of Flex Credits. All allocations of Flex Credits must be made in fifty-fifty dollar ($50) increments. • This Normally, this election must be made by November 30th of the year prior to the calendar year in which the credits will be allocated to the various accounts. Only one (1) election may be made in any year. • The election as to the allocation of Flex Credits rests exclusively with the employee and once made is irrevocable. • Where an employee fails to make an election for the Flex Credits, as an automatic default, one hundred percent per cent (100%) will be automatically credited to the employee’s HCSA, with no allocation to the Taxable Wellness Spending Account.

Appears in 1 contract

Samples: Memorandum of Settlement

Allocation of Flex Credits. All allocations of Flex Credits must be made in fifty-dollar ($50) increments. • This election must be made by November 30th of the year prior to the calendar year in which the credits will be allocated to the various accounts. Only one (1) election may be made in any year. • The election as to the allocation of Flex Credits rests exclusively with the employee and once made is irrevocable. • Where an employee fails to make an election for the Flex Credits, as an automatic default, default one hundred percent (100%) will be automatically credited to the employee’s HCSA, with no allocation to the Taxable Wellness Spending Account.. LETTER OF AGREEMENT 10 - FLEXIBLE SPENDING CREDITS (CONT’D)

Appears in 1 contract

Samples: Collective Agreement

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