Cafeteria Plans. 17.1.1 Each active and each retired employee shall receive a City contribution equal to the minimum employer contribution for agencies participating in the Public Employees Medical and Hospital Care Act (PEMHCA).
Cafeteria Plans. Effective as of the Closing Date, Buyer shall cause an Acquired Company or one of Buyer’s Subsidiaries to establish or maintain a flexible spending reimbursement account under a cafeteria plan that is intended to meet the requirements of Section 125 of the Code (the “Company Cafeteria Plan”) in which Transferred Employees can participate. Buyer shall cause an Acquired Company or one of Buyer’s Subsidiaries to use commercially reasonable efforts to allow Transferred Employees who participated as of the Employee Transfer Date (collectively, the “Cafeteria Plan Participants”) in an Employee Benefit Plan that is intended to meet the requirements of Section 125 of the Code (a “Seller Cafeteria Plan”) to participate in the Company Cafeteria Plan effective as of the applicable Employee Transfer Date. During the period from the Employee Transfer Date until the last day of the plan year of the Seller Cafeteria Plan that commenced immediately prior to the Employee Transfer Date, Buyer shall cause an Acquired Company or one of Buyer’s Subsidiaries to continue, the salary reduction elections made by the Cafeteria Plan Participants as in effect as of the Employee Transfer Date (adjusted, to the extent necessary, to take into account any changes to applicable premiums related to any Buyer Benefit Plan) and allow each Cafeteria Plan Participant to receive reimbursement from such participant’s flexible spending reimbursement account under the Company Cafeteria Plan on substantially comparable terms and conditions as would have been applicable to such participant as if such Cafeteria Plan Participant were employed by Seller or one of its Affiliates following the Employee Transfer Date during such period and continued to participate in a Seller Cafeteria Plan. As of the Employee Transfer Date, (i) if the aggregate accumulated contributions to the flexible spending reimbursement accounts made by Cafeteria Plan Participants prior to the Employee Transfer Date during the year in which the Employee Transfer Date occurs exceeds the aggregate reimbursement amounts paid to Cafeteria Plan Participants for such year from such accounts, Seller shall transfer, or cause an Affiliate to transfer, to Buyer, an Acquired Company or one of Buyer’s other Subsidiaries, as applicable, an amount equal to such excess as soon as practicable following the applicable Employee Transfer Date and (ii) if the aggregate reimbursement amounts paid to Cafeteria Plan Participants for such year from the fle...
Cafeteria Plans. Each faculty member shall have the option to participate in a flexible spending account program for out-of-pocket medical expenses and/or dependent care in accordance with Section 125 of the Internal Revenue Service Codes. An outside administrator will administer such plans and the full cost to participate in such plans will be the responsibility of the COMMITTEE.
Cafeteria Plans. The District will provide dependent care accounts as part of its cafeteria plan. The terms of the plans will be subject to Section 125 of the IRS Code, including limits and “use it or lose it”, and further will require reimbursement of the District for any payments in excess of contributions in excess of contributions.
Cafeteria Plans. Without in any way limiting the provisions of Section 5.10(a) or (b), as of the Closing Date, to the extent Buyer and its Subsidiaries (including the Company Group) are not assuming or retaining any Company Plan that is a cafeteria plan or plan subject to Section 125 of the Code in which any Buyer Employee participated immediately prior to the Closing (“Company Group/Seller 125 Plans”), Buyer and its Subsidiaries (including the Company Group) shall (i) cause each Buyer Employee to be credited under similar plans of Buyer and its Subsidiaries (including the Company Group) (“Buyer 125 Plans”), with a “Credit Balance” representing the aggregate amount of an employee’s payroll deductions less the aggregate amount of disbursements, but not below zero, under each Buyer Employee’s account under the applicable Company Group/Seller 125 Plan immediately prior to the Closing Date and (ii) give effect, or cause the applicable Buyer 125 Plan to give effect, to elections made by each Buyer Employee for the calendar year during which the Closing Date occurs under each Company Group/Seller 125 Plan in which such Buyer Employee participates.
Cafeteria Plans. Each plan listed on Part 3.13 of the Disclosure Letter which is intended to constitute a “cafeteria plan” as defined in IRC § 125(d) has been established and administered in compliance with all requirements of IRC § 125.
Cafeteria Plans. On Buyer's written request, from the Closing Date until such date on or before December 31, 2001 as Buyer may determine upon reasonable prior written notice ("Cafeteria Plan Cut-off Date"), Regular Employees will continue to participate in the Group Benefits Program (consisting of a premium conversion feature and medical and dental flexible spending accounts); provided that, in the case of Affected Employees, such employees had participated in the Group Benefits Program prior to the Closing Date. During that period, the responsibilities of Buyer and Seller shall be determined in accordance with the methodology set forth in Schedule 6.6(d). Effective on the Cafeteria Plan Cut-off Date, all coverage and benefits for Regular Employees (and former employees) and their dependents under the Group Benefits Program will be discontinued, including coverage for any qualified beneficiaries under COBRA. Notwithstanding the immediately preceding sentence, Buyer shall provide COBRA continuation coverage for those current and former Regular Employees (and their beneficiaries) who are qualified COBRA beneficiaries and who are receiving COBRA continuation coverage as of the Cafeteria Plan Cut-off Date for so long as such individuals are eligible for COBRA coverage. On and after the Cafeteria Plan Cut-off Date, cafeteria plan coverage for Regular Employees (and former employees) and their dependents will be solely the responsibility and liability of Buyer and future benefits shall be determined by Buyer in accordance with applicable law.
Cafeteria Plans. 43 (f) 401(k) Plan...........................................................................43 (g)
Cafeteria Plans. Contemporaneously with the Closing, Automated will adopt a plan covering the Automated Employees substantially identical to the CCBG (Southwest) Flexible Compensation Plan .
Cafeteria Plans. Prior to the Closing, New Image shall transfer from the Cafeteria Plan Account to a bank account included in the Transferred Assets any cash not derived from amounts properly withheld under the Cafeteria Plan. At least through the last day of the fourth month following Closing, New Image shall (a) maintain the Cafeteria Plan in accordance with its terms and applicable Legal Requirements and (b) permit the reimbursement of claims arising thereunder on or prior to Closing at least until such last day; provided, however, that if written consent of Buyer is obtained, New Image may terminate the Cafeteria Plan in accordance with its terms and applicable Legal Requirements and distribute the amounts constituting the Cafeteria Plan Account to the participants and/or beneficiaries under such plan.
