IRS Section 125 Plan. The Board of Education shall select a Section 125 IRS Fringe Benefit plan for voluntary teacher participation. The Board will pay all fees for the establishment of the Section 125 Plan and the teacher participants will pay their own monthly fees.
IRS Section 125 Plan. The Board shall provide to the extent available under the Internal Revenue Code and Regulations (Section 125) Section 125 Plan for the payment of unit members’ insurance premium contributions on a pre-tax basis.
IRS Section 125 Plan. The District shall offer an IRS Section 125 Cafeteria Plan. The District’s Section 125 Plan shall include a Premium Only Payment Plan and Flexible Spending Accounts (“FSA”) for reimbursement of eligible medical care, dependent care and other authorized expenses. Faculty members shall be allowed all elections permitted by law and the District’s adopted Plan, as IRS Section 125 Plan requirements and applicable laws may change from time-to- time.
IRS Section 125 Plan. Fringe benefits covered under the IRS Section 125 plan allow employee-paid premiums to be paid with pre-tax dollars except for IRS rules governing imputed income.
IRS Section 125 Plan. Tax sheltering of the individual’s contribution for health costs shall be implemented under IRS Section 125, upon agreement of the Superintendent and the Association President.
IRS Section 125 Plan. The Board shall establish a Section 125 Plan, such plan to remain in effect as long as laws and Internal Revenue Service rules remain the same.
IRS Section 125 Plan. The employer shall provide the opportunity for all members to participate in (at their individual option) a Section 125 Plan. 405 STRS PICK-UP The Board of Education of the Plymouth-Shiloh Local School District herewith agrees with the Plymouth Education Association to pick-up and pay through the salary reduction method the contributions to the State Teachers Retirement System paid on behalf of the members of the bargaining unit under the terms and conditions:
IRS Section 125 Plan. 4.5.1 The District will provide members with access to a plan established pursuant to Section 125 of the Internal Revenue Code.
IRS Section 125 Plan. A. The benefits provided to Unit Members by Section 125 of the Revenue Act of 1978 shall be made available to any Member so requesting that their benefit elections be nontaxable. All provisions included under Section 125 of the Internal Revenue Code will be made available to Members. The Superintendent and the Association shall mutually agree upon a company as the enroller and record keeper of the plan. The company selected shall be required to provide the District (i.e., the Employer and the Association) a hold harmless and a record keeping agreement that will further hold the Employer risk free under IRS provisions regulating non-reimbursed medical payments.
IRS Section 125 Plan. The Board agrees to continue the practice and rights with respect to the IRS Section 125 Plan
