Fringe Benefit Plan. The Board shall provide for fringe benefits through a flexible benefit plan under and in compliance with the provisions of Section 125 of the Internal Revenue Code, related statutory provisions, and applicable regulations. Any administrative costs for individual offerings within the Section 125 plan will be the responsibility of the employee choosing that option. 1. For each teacher electing to participate in the group health insurance plan, the Board will provide a contribution proposed in the annual benefit handbook. 2. Under no condition will the Board’s contribution toward a single, employee + 1 or family option exceed the cost of the premium for the lowest option for that respective coverage.
Appears in 6 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
