Flexible Spending Plan. As of the Employment Commencement Date, the Seller shall transfer, or use commercially reasonable efforts to cause to be transferred, from the Employee Plans that are medical and dependent care account plans (each, a “Seller FSA Plan”) to one or more medical and dependent care account plans established or designated by Buyer (collectively, the “Buyer FSA Plan”) the account balances (positive or negative) of Transferred Employees, and Buyer shall be responsible for the obligations of the Seller FSA Plans to provide benefits to the Transferred Employees with respect to such transferred account balances at or after the Employment Commencement Date (whether or not such claims are incurred prior to, on or after such date). Each Transferred Employee shall be permitted to continue to have payroll deductions made as most recently elected by him or her under the applicable Seller FSA Plan. As soon as reasonably practicable following the end of the plan year for the Buyer FSA Plan, including any grace period, Buyer shall promptly reimburse Seller for benefits paid by the Seller FSA Plans to any Transferred Employee prior to the Employment Commencement Date to the extent in excess of the payroll deductions made in respect of such Transferred Employee at or prior to the Employment Commencement Date but only to the extent that such Transferred Employee continues to contribute to the Buyer FSA Plan the amount of such deficiency. This Section 8.07 shall be interpreted and administered in a manner consistent with Rev. Rul. 2002-32.
Flexible Spending Plan. The District will offer a flexible spending, dependent care excess medical cost reimbursement account plan under Section 125 of the Internal Revenue Code (IRC). A Flexible Spending Account (FSA) allows unit members to designate a certain amount of taxable income on a pre- tax basis to pay out of pocket medical and dependent care expenses.
Flexible Spending Plan. If you enrolled in the Company’s Flexible Spending Plan and established a Healthcare Reimbursement Account and/or Dependent Care Reimbursement Account for the current plan year, you have 90 days following your Separation Date (as long as it is prior to March 31 of the following plan year) to submit any covered expenses for reimbursement provided the expenses were incurred from January 1 of the current plan year through your Separation Date. You may only submit expenses that you incurred prior to the Separation Date.
Flexible Spending Plan. Certificated employees may choose to participate in a flexible spending plan for health insurance premiums provided by the school district.
Flexible Spending Plan. Unit members are eligible to participate in the City Flexible Spending Plan (unreimbursed medical expenses and dependent care), with the City paying the administrative fee.
Flexible Spending Plan. Bargaining unit members may also participate in a section 125 plan, where all expenses authorized by the relevant IRS regulations and in accordance with the plan provider.
Flexible Spending Plan. The Board provides a Flexible Spending Plan. The Board shall determine the administration and benefits available through the plan and may discontinue the plan at the Board’s discretion. These funds may be used for medical, dental, prescription, vision or other medical costs that are permitted by federal and state regulations for payment from a flex spending account.
Flexible Spending Plan. The Board will offer a Flexible Spending Plan during the term of this Agreement that complies with all federal tax guidelines and shall make it available for inspection and/or copying by any faculty member in the District’s Human Resources Office. The Board will establish flexible spending limits annually.
Flexible Spending Plan. Effective as of the last day of the month in which the Closing occurs (the “Company FSA End Date”), Transferred Employees who participate in the Company Plan that is a flexible spending account plan (such accounts, the “Company FSA” and such participants in the Company FSA, “FSA Participants”) shall no longer be eligible to contribute to the Company FSA except as otherwise provided by and in accordance with COBRA. Effective as of the Closing Date, to the extent not previously established or already maintained, the Acquiror, or one of its Affiliates, shall establish a flexible spending account plan which shall (i) permit immediate participation as of the first day of the month immediately following Closing for all FSA Participants and (ii) accept for reimbursement any claims related to the calendar year in which the Closing Date occurs and eligible for reimbursement on the basis of participant elections initially made under the Company FSA, to the extent such claims have not been previously reimbursed by the Company. The salary reduction election of FSA Participants under the Company FSA will be continued by the Acquiror following Closing (and no such FSA Participant shall be able to change such an election as a result of the transactions contemplated by this Agreement). The Company shall provide to the Acquiror as soon as administratively feasible, but in no event later than ten (10) Business Days following the date of this Agreement, a schedule setting forth the FSA Participants and (x) if applicable, the amount each FSA Participant has elected to contribute to the Company FSA for the calendar year in which the Closing Date occurs and (y) the account balance of each FSA Participant (the “FSA Balances”). In addition, the Company shall provide to the Acquiror as soon as administratively feasible, but in no event later than ten (10) Business Days, following the Company FSA End Date, an updated schedule setting forth the FSA Balance for each FSA Participant as of the Company FSA End Date. To the extent the FSA Balances in the aggregate are positive, the Company shall make a payment to the Acquiror equal to the aggregate positive FSA Balances by the fifteenth (15th) Business Day following the Closing Date. To the extent the FSA Balances in the aggregate are negative, the Acquiror shall make a payment to the Company equal to the aggregate negative FSA Balances by the fifteenth (15th) Business Day following the Closing Date. The Company shall reasonably cooperat...
Flexible Spending Plan. The District will provide a flexible-spending plan pursuant to IRS Section 125 regulations. This plan may be utilized for premium payments, dependent care and unreimbursed medical expenses.
