Common use of Forfeiture of Unused Allocations Clause in Contracts

Forfeiture of Unused Allocations. To comply with the requirement of IRC Section 125, amounts remaining in either the dependent care or health care FSA at the end of each plan year will be forfeited. In the event an employee separates from employment during a plan year with a remaining balance in the FSA account(s), the employee may continue to receive reimbursements from the account(s) through the end of that plan year.

Forfeiture of Unused Allocations. To comply with the requirement of IRC Section 125, amounts remaining in either the dependent care or health care FSA at the end of each plan year will be forfeitedforfeited or carried forward in a limited amount and for a limited period as provided for in the plan made available by the board and as permitted by law. In the event an employee separates from employment during a plan year with a remaining balance in the FSA account(s), the employee may continue to receive reimbursements from the account(s) through the end of that plan year.

Forfeiture of Unused Allocations. To comply with the requirement of IRC Section 125, amounts remaining in either the dependent care or health care FSA at the end of each plan year will be forfeited. In the event an employee a member separates from employment during a plan year with a remaining balance in the FSA account(s), the employee member may continue to receive reimbursements from the account(s) through the end of that plan year.

Forfeiture of Unused Allocations. To comply with the requirement of IRC Section 125, amounts remaining in either the dependent care or of health care FSA at the end of each plan year will be forfeited. In the event an employee separates from employment during a plan year with a remaining balance in the FSA account(s), the employee may continue contribute to receive reimbursements from the account(s) through the end of that plan year.