Common use of Dependent Care FSA Clause in Contracts

Dependent Care FSA. 1. Under the Cafeteria Plan, each employee will be allowed to make a pre-tax “salary reduction” election up to the maximum amount allowable under IRC Section 129, and receive a corresponding credit under a dependent care FSA. Under the dependent care FSA, reimbursement may be received for dependent care expenses described in IRC Section 129. 2. The salary reduction and corresponding credits will be made and issued in accordance with the pay schedule. 3. No employee may be entitled to reimbursement from the dependent care account in excess of the amount credited to the account.