Common use of IRC 125 Plan Clause in Contracts

IRC 125 Plan. An IRC 125 benefit plan is available to employees for the purposes of providing for the medical, dental, vision, and dependent care for unit members and their dependents and retirees and their dependents. The District shall provide for financing the operation and administration of the IRC 125 plan with the District Insurance Committee deciding costs (fees) of the plan administrator. At the end of each fiscal year, the District shall contribute to the self-insurance fund an amount equal to the money not spent by unit members covered by this IRC 125 plan which shall be used to offset future costs of the District’s benefits plans. The IRC 125 plan shall be for the sole purposes of providing childcare, elder care, the employee’s contribution toward medical insurance premiums, and out-of-pocket expenses for medical, dental, and vision care and shall be held in an interest- bearing trust account. The selection of a licensed independent third party IRC 125- plan administrator shall be made by the District Insurance Committee. Such administrator shall not advertise, sell or otherwise influence plan participants with any other product marketed by the administrator. Administrative costs shall be subject to Governing Board approval.

IRC 125 Plan. An IRC 125 benefit plan is available to employees for the purposes of providing for the medical, dental, vision, and dependent care for unit members and their dependents and retirees and their dependents. The District shall provide for financing the operation and administration of the IRC 125 plan with the District Insurance Committee deciding costs (fees) of the plan administrator. At the end of each fiscal year, the District shall contribute to the self-insurance fund an amount equal to the money not spent by unit members covered by this IRC 125 plan which shall be used to offset future costs of the District’s benefits plans. The IRC 125 plan shall be for the sole purposes of providing childcare, elder care, the employee’s contribution toward medical insurance premiums, and out-of-pocket expenses for medical, dental, and vision care and shall be held in an interest- interest-bearing trust account. The selection of a licensed independent third party IRC 125- 125-plan administrator shall be made by the District Insurance Committee. Such administrator shall not advertise, sell or otherwise influence plan participants with any other product marketed by the administrator. Administrative costs shall be subject to Governing Board approval.

IRC 125 Plan. An IRC 125 benefit plan is available to employees for the purposes of providing for the medical, dental, vision, and dependent care for unit members and their dependents and retirees and their dependents. The District shall provide for financing the operation and administration of the IRC 125 plan with the District Insurance Committee deciding costs (fees) of the plan administrator. At the end of each fiscal year, the District shall contribute to the self-insurance fund an amount equal to the money not spent by unit members covered by this IRC 125 plan which shall be used to offset future costs of the District’s benefits plans. The IRC 125 plan shall be for the sole purposes of providing childcare, elder care, the employee’s contribution toward medical insurance premiums, and out-of-pocket expenses for medical, dental, and vision care and shall be held in an interest- bearing trust account. The selection of a licensed independent third party IRC 125- 125-plan administrator shall be made by the District Insurance Committee. Such administrator shall not advertise, sell or otherwise influence plan participants with any other product marketed by the administrator. Administrative costs shall be subject to Governing Board approval.