Common use of IRC 125 Plan Clause in Contracts

IRC 125 Plan. The District shall maintain an IRC 125 Plan whereby unit members can pay for out-of-pocket health insurance premiums, excess medical costs, child care, and elder care with pre-tax dollars consistent with carrier requirements. No fee or expenses shall be charged to unit members for implementation and operation of the IRC 125 Plan. In lieu of the $400 IRC 125 contribution, the District will provide a $400 stipend to any unit member who provides proof that s/he has paid at least $400 during the fiscal year towards student loan debt.

IRC 125 Plan. The District shall maintain an IRC 125 Plan whereby unit members can pay for out-of-pocket health insurance premiums, excess medical costs, child care, and elder dependent day care with pre-tax dollars consistent with carrier requirements. No fee or expenses shall be charged to unit members for implementation and operation of the IRC 125 Plan. In lieu of the The District will match up to $400 per year any contribution a unit member makes to the unit member’s medical or limited purpose IRC 125 contribution, the District will provide a $400 stipend to any unit member who provides proof that s/he has paid at least $400 during the fiscal year towards student loan debtplan.