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 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 a default, fifty per cent (50%) of the employee’s Flex Credits will automatically be credited to the PDR account, and fifty per cent (50%) will be automatically credited to the employee’s HCSA with no allocation to the Taxable Wellness Spending Account.

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 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 a default, fifty per cent (50%) of the employee’s Flex Credits will automatically be credited to the PDR account, and fifty per cent (50%) will be automatically credited to the employee’s HCSA with no allocation to the Taxable Wellness Spending Account.

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 a default, fifty per cent (50%) of the employee’s Flex Credits will automatically be credited to the PDR account, and fifty per cent (50%) will be automatically credited to the employee’s HCSA HCSA, with no allocation to the Taxable Wellness Spending AccountTWSA.