Cafeteria Plan and Optional Benefits. In accordance with IRS Code Section 125, the City will provide a Flexible Benefits Plan (“Cafeteria Plan”) to all eligible employees. Employees may elect to participate in the following three Section 125 programs offered by the City: • Premium Conversion, • Dependent Care (IRS contribution limits apply), and • Flexible Spending Account (IRS contribution limits apply). Each of these programs will be administered in accordance with the IRS Code. Consistent with applicable laws and regulations, each employee may use his/her HPSF for any benefits permitted by law and provided for in the Cafeteria Plan document. Those benefits include: ● Health insurance in accordance with CalPERS regulations and Federal law; ● Dependent dental coverage; ● Additional life insurance, provided by the City’s insurance carrier, up to the maximum allowed by the City’s carrier; ● Dependent Care Assistance Plan (DCAP) Employees will pay any administration fee for this service through payroll deductions; ● Flexible Spending Account (FSA) Employees will pay any administration fee for this service through payroll deductions; ● To take any unused cash value after selecting from the above options as taxable cash-in-lieu. Effective January 1, 2021 this cash back option is no longer available.
Cafeteria Plan and Optional Benefits. 10.3.1. In accordance with IRS Code Section 125, the City will provide a Flexible Benefits Plan (“Cafeteria Plan”) to all eligible employees. Employees may elect to participate in the following three (3) Section 125 programs offered by the City: • Premium Conversion • Dependent Care (IRS contribution limits apply), and • Flexible Spending Account (IRS contribution limits apply).
10.3.2. Each of these programs will be administered in accordance with the IRS Code.
10.3.3. Consistent with applicable laws and regulations, each employee may use their HPSF for any benefits permitted by law and provided for in the Cafeteria Plan document but will not receive any remaining HPSF balance as cash. Those benefits include: • Health insurance in accordance with PERS regulations and Federal law, • Dependent dental coverage, • Additional life insurance, provided by the City’s insurance carrier, up to the maximum allowed by the City’s carrier, • Dependent Care Assistance Plan (DCAP), employees will pay any administration fee for this service through payroll deductions, • Flexible Spending Account (FSA), employees will pay any administration fee for this service through payroll deductions.
10.3.4. For each month when the benefit options selected by the employee under this plan exceed the appropriate City contributions (Health Plan Spending Fund), that employee shall pay by pre or post-tax payroll deductions the full cost (100%) which exceeds the City’s contributions for that employee.
Cafeteria Plan and Optional Benefits. 12.6.1. In accordance with IRS Code Section 125, the City will provide a Flexible Benefits Plan (“Cafeteria Plan”) to all eligible employees. Employees may elect to participate in the following three (3) Section 125 programs offered by the City: • Premium Conversion; • Dependent Care (IRS contribution limits apply); and • Flexible Spending Account (IRS contribution limits apply).
12.6.2. Each of these programs will be administered in accordance with the IRS Code.
12.6.3. Consistent with applicable laws and regulations, each employee may use his/her HPSF for any benefits permitted by law and provided for in the Cafeteria Plan document. Those benefits include: • Health insurance in accordance with CalPERS regulations and Federal law; • Dependent dental coverage; • Additional life insurance, provided by the City’s insurance carrier, up to the maximum allowed by the City’s carrier; • Dependent Care Assistance Plan (DCAP), Employees will pay any administration fee for this service through payroll deductions; and • Flexible Spending Account (FSA), Employees will pay any administration fee for this service through payroll deductions.
Cafeteria Plan and Optional Benefits a. In accordance with IRS Code Section 125, the City will provide a Flexible Benefits Plan (“Cafeteria Plan”) to all eligible employees. Employees may elect to participate in the following three (3) Section 125 programs offered by the City: • Premium Conversion; • Dependent Care (IRS contribution limits apply); and • Flexible Spending Account (IRS contribution limits apply).
b. Each of these programs will be administered in accordance with the IRS Code.
c. Consistent with applicable laws and regulations, each employee may use his/her HPSF for any benefits permitted by law and provided for in the Cafeteria Plan document. Those benefits include: • Health insurance in accordance with CalPERS regulations and Federal law; • Dependent dental coverage; • Additional life insurance, provided by the City’s insurance carrier, up to the maximum allowed by the City’s carrier; • Dependent Care Assistance Plan (DCAP) Employees will pay any administration fee for this service through payroll deductions; • Flexible Spending Account (FSA) Employees will pay any administration fee for this service through payroll deductions; and • Effective January 1, 2021, the option to take any unused cash value after selecting from the above options has been eliminated.
Cafeteria Plan and Optional Benefits. 7.3.1. In accordance with IRS Code Section 125, the City will provide a Flexible Benefits Plan (“Cafeteria Plan”) to all eligible employees. Employees may elect to participate in the following three (3) Section 125 programs offered by the City: • Premium Conversion • Dependent Care (IRS contribution limits apply), and • Flexible Spending Account (IRS contribution limits apply).
