Flexible Compensation Plan. The Employer shall maintain the current Flexible Compensation Plan for employees in this Bargaining Unit. Employees in this Bargaining Unit will be offered participation in the State of Michigan Dependent Care and Medical Spending Accounts authorized in accordance with Section 125 of the Internal Revenue Code, except as provided in Article 22, Section 3, Health Insurance. Beginning January 1, 2021, the Employer shall offer employees the option of enrolling in either a general-purpose flexible spending account or a limited-purpose flexible spending account, as authorized by federal law for healthcare expenses.
Flexible Compensation Plan. The Employer shall maintain the current flexible compensation plan for employees in these Bargaining Units. Employees in the Human Services and Administrative Support Bargaining Units are eligible to participate in the State of Michigan Dependent Care and Medical Spending Accounts authorized in accordance with Section 125 of the Internal Revenue Service Code.
Flexible Compensation Plan. Faculty members are eligible to participate in the NMC's flexible compensation plan, including reimbursement accounts for dependent care and unreimbursed health care expenses. Faculty member on leaves of absence are not eligible to participate (e.g. non-pay status.)
Flexible Compensation Plan. The City shall continue to offer a bona fide Flexible Compensation Plan and to make monthly contributions for employee benefit allowance for allocation to health insurance and health and dependent care reimbursement accounts. It is understood that the City may establish such regulations as may become necessary to ensure that the cafeteria plan remains a bona fide plan for the purpose of taxation and FLSA compliance, subject to meet and confer to the extend required by state law. The City’s contribution to the Flexible Compensation Plan (cafeteria plan) shall increase as follows: .
Flexible Compensation Plan. The City shall continue to offer a bona fide Flexible Compensation Plan and to make monthly contributions for allocation to health insurance and health and dependent care reimbursement accounts. It is understood that the City may establish such regulations as may become necessary to ensure that the cafeteria plan remains a bona fide plan for the purpose of taxation and FLSA compliance, subject to meet and confer to the extend required by state law. The City’s contribution to the Flexible Compensation Plan (cafeteria plan) shall increase as follows:
1. Effective December 2022, the City’s contribution toward the Flexible Compensation Plan will increase by 3% to the following amounts: Single Party: $835.29 + PEMHCA Two Party: $1831.81 + PEMHCA Family: $2429.77 + PEMHCA
2. Effective December 2023, the City’s contribution toward the Flexible Compensation Plan will increase by 3% to the following amounts Single Party: $860.35 + PEMHCA Two Party: $1886.76 + PEMHCA Family: $2502.66 + PEMHCA
3. Effective December 2024, the City’s contribution toward the Flexible Compensation Plan will increase by 3% to the following amounts: Single Party: $886.16 + PEMHCA Two Party: $1943.37 + PEMHCA Family: $2577.74 + PEMHCA
4. Effective December 2025, the City’s contribution toward the Flexible Compensation Plan will increase by 3% to the following amounts: Single Party: $912.74 + PEMHCA Two Party: $2,001.67 + PEMHCA Family: $2,655.07 + PEMHCA The overall increase in the cafeteria plan will be no more than a cumulative 17% over the four- year period. Increases above the guaranteed rates will occur if the Xxxxxx rate increases above the cumulative guaranteed rate. Calendar Year Guaranteed Increase Amount Available based on Cumulative Xxxxxx Increase above Cumulative Guaranteed Increase 2022 3% 2023 3% 5% 2024 3% 5% unless a portion used in previous year 2025 3% 5% unless a portion used in previous year
Flexible Compensation Plan. 33 The Employer's pre-tax dollar deduction program is extended to bargaining 34 unit employees. Under such a program, employee contributions for premiums 35 for health insurance and dental insurance shall be made after FICA 36 calculations, but before income tax withholding calculations are made. 37 Bargaining unit employees shall be offered the option to participate in the 38 State of Michigan dependent care and/or medical spending accounts 1 authorized by, and established by the State in accordance with current 2 Section 125 of the U.S. Internal Revenue Service Code.
Flexible Compensation Plan. 17 A. Employees in this bargaining unit shall be eligible for a pre-tax dollar 18 deduction of group insurance premiums from gross pay.
19 B. Employees in this bargaining unit will be eligible to participate in the State of 20 Michigan Dependent Care and Medical Spending Accounts authorized in 21 accordance with Section 125 of the Internal Revenue Service code. 22 Enrollment period for the accounts is during the month of November. 23 Article 29
Flexible Compensation Plan. Employees in this bargaining unit shall be eligible for a pre-tax dollar deduction of group insurance premiums from gross pay.
Flexible Compensation Plan. The City shall offer a Flexible Compensation Plan and make monthly contributions for employee benefit allowance for allocation to health insurance, and health and dependent care reimbursement accounts.
Flexible Compensation Plan. Faculty chairs are eligible to participate in the NMC's flexible compensation plan, including reimbursement accounts for dependent care and unreimbursed health care expenses. Faculty chairs on leaves of absence are not eligible to participate (e.g. non-pay status.)
