IRS Section 125 Clause Samples
IRS Section 125, commonly known as a cafeteria plan provision, allows employees to choose between receiving taxable cash compensation or selecting from a menu of qualified, tax-free benefits offered by their employer. In practice, this clause enables employees to allocate a portion of their pre-tax salary toward benefits such as health insurance, dependent care assistance, or flexible spending accounts. The core function of this clause is to provide tax advantages to employees while giving them flexibility in tailoring their benefits package to suit their individual needs.
IRS Section 125. A teacher may participate in this school corporation’s flexible benefits plan, with all monthly user fees paid by the participating teachers. Such plan shall be established with a carrier mutually agreed upon by the NCCTA and the NCSC in accordance with the provisions of Section 125 of the Internal Revenue Code. The administrative costs for the IRS Section 125 plan shall be borne equally by the corporation and the plan participants.
IRS Section 125. An IRS Section 125 salary reduction program shall be made available to all bargaining unit employees for insurance premiums and eligible non-reimbursed medical expenses.
IRS Section 125. The current District IRS Section 125 Plan will be revised to cover child care, elder care, and medical expenses effective March 1, 1996.
IRS Section 125. An IRS Section 125 plan to be implemented for eligible employees on February 1, 1992, with American Fidelity as the carrier.
IRS Section 125. A teacher may participate in this school corporation's flexible benefits plan. Such plan shall be solely determined and adopted by the Board under the provisions of Section 125 of the Internal Revenue Service Code. The plan will provide for the employee share of group insurance premiums. The individual teachers who elect to participate in the plan shall be responsible for payment of any monthly costs incurred thereafter
IRS Section 125. Section 1. The Employer will provide on or before July 1, 1991, IRS Section 125 document(s), allowing employees who choose to participate, the ability to pay for employee contributions with pre-tax dollars for the following:
1. Medical hospitalization expenses
2. Dependent care programs
3. Employee payroll deductions for health care premiums The above requirement is subject to and contingent upon CPA verification that the same is permissible and will not jeopardize County tax deductions and is authorized by the IRS.
IRS Section 125. The District shall provide an IRS Section 125 Program in accordance with relevant law.
IRS Section 125. A. In order to enable bargaining unit members to use pre-tax dollars to pay dental insurance premiums for which the bargaining unit member is liable, dependent child care costs, and medical costs -- including dental and eye care -- the Board agrees to make available a Premium Conversion Plan, a Dependent Care Reimbursement Account, and a Medical Expense Reimbursement Account, administered by Blue Cross/Blue Shield or other administrator. The Premium Conversion Plan, Dependent Care Reimbursement Account, and the Medical Reimbursement Account will be set up in conformity with, and will adhere to, the Provisions of Section 125 of the Internal Revenue Code.
IRS Section 125. A full-time employee is eligible to participate in the ▇▇▇▇▇▇ College Flexible Benefits Program. The program includes premium conversion, medical reimbursement, and dependent care components; and conforms to provisions contained in Internal Revenue Service Section 125.
IRS Section 125. The EMPLOYER will provide as soon as feasible, I.R.S. Section 125 document(s) allowing employees who choose to participate, the ability to pay for employee contributions with pre-tax dollars for the following:
A. Medical and hospitalization expenses.
B. Dependent care programs.
C. Employee payroll deductions for health care premiums.