Common use of Full Flex Cafeteria Plan Clause in Contracts

Full Flex Cafeteria Plan. Effective January 1, 2010, the City implemented a full flex cafeteria plan for active employees, in accordance with IRS Code Section 125. Active employees participating in the City’s full flex cafeteria plan shall receive a monthly flex dollar allowance to purchase benefits under the full flex cafeteria plan. Effective January 1, 2021, the monthly flex dollar allowance shall be: For employee only: $ 781.06 For employee and one dependent: $1,563.18 For employee and two or more dependents: $2,032.23 The flex dollar allowances shall increase on the December 15th paycheck up to a maximum of three percent (3.0%) on an annual basis, based on but not to exceed the Kaiser Bay Area premium rate increase for the upcoming calendar year. The City shall contribute to the cost of medical coverage for each eligible employee and his/her dependents, an amount not to exceed the California Public Employees’ Medical and Hospital Care Act (PEMHCA) Minimum Employer contribution, as determined by CalPERS on an annual basis. This portion of the monthly flex dollar allowance is identified as the City’s contribution towards PEMHCA. The monthly flex dollar allowance (including the PEMHCA minimum contribution) may be used in accordance with the terms of the cafeteria plan to purchase health benefits or may be converted to taxable income.

Full Flex Cafeteria Plan. Effective January 1, 2010, the City implemented a full flex cafeteria plan for active employees, in accordance with IRS Code Section 125. Active employees participating in the City’s full flex cafeteria plan shall receive a monthly flex dollar allowance to purchase benefits under the full flex cafeteria plan. Effective January 1, 20212016, the monthly flex dollar allowance shall be: For employee only: $ 781.06 736.00 For employee and one dependent: $1,563.18 1,473.00 For employee and two or more dependents: $2,032.23 The 1,915.00 Effective December 2017, flex dollar allowances shall increase on the December 15th paycheck up to a maximum of three percent (3.0%) on an annual basis, based on but not to exceed the Kaiser Bay Area premium rate increase for the upcoming calendar year. The City shall contribute to the cost of medical coverage for each eligible employee and his/her dependents, an amount not to exceed the California Public Employees’ Medical and Hospital Care Act (PEMHCA) Minimum Employer contribution, as determined by CalPERS on an annual basis. This portion of the monthly flex dollar allowance is identified as the City’s contribution towards PEMHCA. The monthly flex dollar allowance (including the PEMHCA minimum contribution) may be used in accordance with the terms of the cafeteria plan to purchase health benefits benefits, or may be converted to taxable income.

Full Flex Cafeteria Plan. Effective January 1, 2010, the City implemented a full flex cafeteria plan Full Flex Cafeteria Plan for active employees, in accordance with IRS Code Section 125. Active employees participating in the City’s full flex cafeteria plan Full Flex Cafeteria Plan shall receive a monthly flex dollar allowance to purchase benefits under the full flex cafeteria plan. Effective January 1, 2021, the The monthly flex dollar allowance effective the paycheck of December 15, 2020 shall be: For employee only: $ 781.06 803.50 For employee and one dependent: $1,563.18 1,606.99 For employee and two or more dependents: $2,032.23 The flex 1,771.10 Flex dollar allowances shall increase on the December 15th paycheck of each subsequent year up to a maximum of three percent (3.03%) on an annual basis, based on but not to exceed the Kaiser Bay Area premium rate increase for the upcoming calendar year. The City shall contribute to the cost of medical coverage for each eligible employee and his/her dependents, an amount not to exceed the California Public Employees’ Medical and Hospital Care Act (PEMHCA) Minimum Employer contribution, as determined by CalPERS on an annual basis. This portion of the monthly flex dollar allowance is identified as the City’s contribution towards PEMHCA. The balance of the monthly flex dollar allowance (including after the PEMHCA minimum contribution) may be used in accordance with the terms of the cafeteria plan to purchase health benefits or may be converted to taxable income.

Full Flex Cafeteria Plan. Effective January 1, 2010, the City implemented a full flex cafeteria plan for active employees, in accordance with IRS Code Section 125. Active employees participating in the City’s full flex cafeteria plan shall receive a monthly flex dollar allowance to purchase benefits under the full flex cafeteria plan. Effective January 1, 20212018, the monthly flex dollar allowance shall be: For employee only: $ 781.06 758.08 For employee and one dependent: $1,563.18 1,517.19 For employee and two or more dependents: $2,032.23 1,972.45 The flex dollar allowances shall increase on the December 15th paycheck up to a maximum of three percent (3.0%) on an annual basis, based on but not to exceed the Kaiser Bay Area premium rate increase for the upcoming calendar year. The City shall contribute to the cost of medical coverage for each eligible employee and his/her dependents, an amount not to exceed the California Public Employees’ Medical and Hospital Care Act (PEMHCA) Minimum Employer contribution, as determined by CalPERS on an annual basis. This portion of the monthly flex dollar allowance is identified as the City’s contribution towards PEMHCA. The monthly flex dollar allowance (including the PEMHCA minimum contribution) may be used in accordance with the terms of the cafeteria plan to purchase health benefits or may be converted to taxable income.