Common use of Board Paid Shelterability of Insurance Premiums Clause in Contracts

Board Paid Shelterability of Insurance Premiums. According to the authority granted under section 125 of the Internal Revenue Code, employees who elect to shelter premium contributions of the single or family plan of the major medical/health insurance plan of the District may do so by completing the appropriate election form provided by the District. The employee agrees to follow all rules and regulations of the Internal Revenue Code regarding the sheltering of such contributions. The Board shall not be responsible for the failure of the above plan to meet the writing, enforceability, etc. as determined by the Internal Revenue Code. Should any of the above be declared improper by the Internal Revenue ruling or opinion, that clause or portion thereof shall be deleted from this Agreement to the extent it violates the ruling or opinion. Any individual financial liability because of an adverse ruling by the Internal Revenue Service shall be borne by the individual teacher. The Board will pay only the monthly premium for each employee participating in the plan. The Board will pay no start-up fee or administrative fee of any kind as an added cost after an agreement has been reached.

Board Paid Shelterability of Insurance Premiums. According to the authority granted under section 125 of the Internal Revenue Code, employees who elect to shelter premium contributions of the single or family plan of the major medical/health insurance plan of the District may do so by completing the appropriate election form provided by the District. The employee agrees to follow all rules and regulations of the Internal Revenue Code regarding the sheltering of such contributions. The Board of Education shall not be responsible for the failure of the above plan to meet the writing, enforceability, etc. as determined by the Internal Revenue Code. Should any of the above be declared improper by the Internal Revenue ruling or opinion, that clause or portion thereof shall be deleted from this Agreement to the extent it violates the ruling or opinion. Any individual financial liability because of an adverse ruling by the Internal Revenue Service shall be borne by the individual teacher. The Board will pay only the monthly premium for each employee participating in the plan. The Board will pay no start-up fee or administrative fee of any kind will be paid by the Board as an added cost after an agreement has been reached.