Common use of Flexible Spending Account (FSA) Clause in Contracts

Flexible Spending Account (FSA). An Educational Support Professional may designate an amount per calendar year to be placed into a flexible spending account (as defined in Section 125 of the Internal Revenue Code as amended from time to time). The amounts in the account may be used to reimburse the Educational Support Professional for uncovered medical expenses. Amounts placed in the account are not subject to federal, state and Social Security and Medicare taxes. Reports of earnings to applicable pension plans will be based on gross earnings.

Appears in 11 contracts

Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement

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