Flexible Spending Accounts and Dependent Care Assistance Accounts Sample Clauses

Flexible Spending Accounts and Dependent Care Assistance Accounts. AHD shall, or shall cause its Affiliates to, have in effect, as of the Effective Time, flexible spending reimbursement accounts and dependent care assistance accounts under a cafeteria plan qualifying under Section 125 of the Code (the “AHD Group Cafeteria Plan”) that provides benefits to each AHD Group Employee. AHD shall cause the AHD Group Cafeteria Plan to accept, effective as of the Effective Time, a transfer of the flexible spending reimbursement accounts and dependent care assistance accounts of AHD Group Employees from the flexible spending reimbursement accounts and dependent care assistance accounts under the cafeteria plan of Atlas in which such AHD Group Employees participate immediately prior to the Effective Time (the “Atlas Group Cafeteria Plan”) to the AHD Group Cafeteria Plan and to honor and continue, through the end of the plan year in which the Effective Time occurs, the elections by each AHD Group Employee under the Atlas Group Cafeteria Plan in effect immediately prior to the Effective Time. If the aggregate reimbursement payouts made to AHD Group Employees prior to the Effective Time from the Atlas Group Cafeteria Plan flexible spending reimbursement accounts during the plan year in which the Effective Time occurs are less than the aggregate accumulated contributions to such accounts made by the AHD Group Employees prior to the Effective Time for such plan year, Atlas shall cause an amount equal to the amount by which such contributions are in excess of such reimbursement payouts to be transferred to AHD by wire transfer of immediately available funds as soon as practicable but in no event later than 45 days following the Effective Time. If the aggregate reimbursement payouts made to AHD Group Employees prior to the Effective Time from the Atlas Group Cafeteria Plan flexible spending reimbursement accounts during the plan year in which the Effective Time occurs exceed the aggregate accumulated contributions to such accounts made by the AHD Group Employees prior to the Effective Time for such plan year, AHD shall cause an amount equal to the amount by which such reimbursement payouts are in excess of such contributions to be transferred to Atlas by wire transfer of immediately available funds as soon as practicable but in no event later than 45 days following the Effective Time. Notwithstanding Section 4.2(a) above, on and after the Effective Time, the AHD Group shall assume, and cause the AHD Group Cafeteria Plan to be solely respons...
Sample 1
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Related to Flexible Spending Accounts and Dependent Care Assistance Accounts

  • Health Care Spending Account After six (6) months of permanent employment, full time and part time (20/40 or greater) employees may elect to participate in a Health Care Spending Account (HCSA) Program designed to qualify for tax savings under Section 125 of the Internal Revenue Code, but such savings are not guaranteed. The HCSA Program allows employees to set aside a predetermined amount of money from their pay, not to exceed the maximum amount authorized by federal law, per calendar year, of before tax dollars, for health care expenses not reimbursed by any other health benefit plans. HCSA dollars may be expended on any eligible medical expenses allowed by Internal Revenue Code Section 125. Any unused balance is forfeited and cannot be recovered by the employee.

  • Flexible Spending Accounts Employees in the unit shall have access to the County’s flexible spending account program, which provides employees with the options of dependent care assistance benefits with a calendar year maximum of $5,000, and medical expense reimbursement benefits with a calendar year maximum of $2,400. The County shall maintain this plan in compliance with IRC §125. Employee premiums for flexible spending account benefits shall be deducted on a pre-tax basis from employee pay.

  • Flexible Spending Account The parties agree that the State shall have the right to use State Employee Health Plan funds to cover the administrative costs of operating the medical and dependent care flexible spending account programs.

  • Health Spending Account (HSA Wellness Spending Account (WSA)/Registered Retirement Savings Plan (RRSP) utilization rates;

  • Health Spending Account contributions by the Executive will cease on the Effective Date. The Executive may submit claims against the balance accrued to the Effective Date, until the end of the calendar year in which the Effective Date occurs.

  • Dependent Care Assistance Program The County offers the option of enrolling in a Dependent Care Assistance Program (DCAP) designed to qualify for tax savings under Section 129 of the Internal Revenue Code, but such savings are not guaranteed. The program allows employees to set aside up to five thousand dollars ($5,000) of annual salary (before taxes) per calendar year to pay for eligible dependent care (child and elder care) expenses. Any unused balance is forfeited and cannot be recovered by the employee.

  • Dental Care Plan The Welfare Plan will include a Dental Care Plan which will reimburse members for expenses incurred in respect of the coverages summarized in Appendix "1". The Plan will not duplicate benefits provided now or which may be provided in the future by any government program.

  • Additional Benefits/Card Enhancements The Credit Union may from time to time offer additional services to your account, such as travel accident insurance, at no additional cost to you. You understand that the Credit Union is not obligated to offer such services and may withdraw or change them at any time.

  • Retirement Accounts With respect to certain retirement plans or accounts (such as individual retirement accounts (“IRAs”), SIMPLE IRAs, SEP IRAs, Xxxx IRAs, Education IRAs, and 403(b) Plans (such accounts, “Retirement Accounts”), the Transfer Agent, at the request and expense of the Fund, provide or arrange for the provision of various services to such plans and/or accounts, which services may include custodial agent services such as account set-up maintenance, and disbursements as well as such other services as the parties hereto shall mutually agree upon.

  • Medical/Dental Expense Account The Employer agrees to allow insurance eligible employees to participate in a medical and dental expense reimbursement program to cover co- payments, deductibles and other medical and dental expenses or expenses for services not covered by health or dental insurance on a pre-tax basis as permitted by law or regulation, up to the maximum amount of salary reduction contributions allowed per calendar year under Section 125 of the Internal Revenue Code or other applicable federal law.

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