Common use of FLEXIBLE FRINGE BENEFIT PROGRAM Clause in Contracts

FLEXIBLE FRINGE BENEFIT PROGRAM. 1. The benefits provided to teachers by Section 125 of the Internal Revenue Act of 1978 shall be made available to any bargaining unit members so requesting and upon approval by the Internal Revenue Service. An amount not to exceed fifty percent (50%) of salary may be set aside by the teacher for the selection of benefits under Section 125 of the Internal Revenue Code, which are non-taxable benefits of Medical Insurance, Dental Insurance, Vision Insurance, Section 79 Life Insurance, Non-Reimbursed Medical Expenses, Dependent Care and taxable benefits of cash. The Board shall pay the fees for the Trust Account. Participants in the reimbursement account(s) shall pay the monthly administration fee. 2. The Flexible Fringe Benefit Election Form shall be an Appendix to this Agreement. The enabling Flexible Fringe Benefit Program, a copy of which may be found in the office of the Superintendent, is hereby incorporated by reference.