IRC Section 125. At such time as the City institutes the Flexible Benefits Plan, the City agrees to implement an IRC Section 125 plan to redirect the employees, pre-selected amount of salary to pay employee paid insurance premiums and other approved expenses with "pre-tax" instead of "after tax" dollars.
IRC Section 125. “Cafeteria” Fringe Benefit Plan
IRC Section 125. The City will continue to make available the provisions of Internal Revenue Code Section 125, allowing employees to use pre-tax compensation for dependent care expenses, medical premiums and excess medical expenses, at such time as the City reaches agreement with all other employee organizations representing City employees to do so. Participation by interested employees is voluntary.
IRC Section 125. The parties agree to implement an IRC Section 125 plan, the terms and conditions of which shall be subject to the mutual agreement of the parties.
