IRS Section 125 Salary Reduction Program Sample Clauses

IRS Section 125 Salary Reduction Program. The Board shall make available to faculty members within a reasonable time an IRS Salary Reduction Program for insurance premiums, eligible non-reimbursed medical expenses, and dependent care expenses. The maximum non-reimbursed medical expenses shall be two thousand five hundred dollars ($2,500) and the maximum reimbursement for non-reimbursed dependent care shall be five thousand dollars ($5,000). Any administrative costs of the dependent care part of this program shall be paid for by each faculty member electing to participate in this portion of the program.
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IRS Section 125 Salary Reduction Program. The Board shall implement and make available to all mid-managers an IRS Section 125 Salary Reduction Program to the fullest extent provided by the IRS rules and regulations for insurance premiums, eligible non-reimbursed medical expenses, and dependent care expenses. All enhancements, reductions, alterations, and changes hereinafter adopted by the IRS shall have a like effect on the plan provided by the Board. Each full-time employee who elects to participate in this program shall, individually, undertake and be responsible for the payment of monthly administrative costs of the program, in full, as to such full-time employees. This program shall be supplemental to the other insurance coverage contained in the agreement with the Association and shall not permit the employee to withdraw from these basic insurance coverages.
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IRS Section 125 Salary Reduction Program a. The board shall implement and make available to faculty members, at board expense, an IRS Section 125 salary reduction program to the fullest extent provided by the IRS rules and regulations for eligible non- reimbursed medical expenses, and dependent care expenses. All enhancements, reductions, alterations, and changes hereinafter adopted by the IRS shall have a like effect on the plan provided by the board. This program shall be supplemental to the other insurance coverages contained in the agreement with the association and shall not permit the employee to withdraw from these basic insurance coverages.
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IRS Section 125 Salary Reduction Program. The Board shall implement and make available to all classified an IRS Section 125 Salary Reduction Program to the fullest extent provided by the IRS rules and regulations for insurance premiums, eligible non-reimbursed medical expenses, and dependent care expenses. All enhancements, reductions, alterations, and changes hereinafter adopted by the IRS shall have a like effect on the plan provided by the Board. The Board shall pay any administrative cost to the program. This program shall be supplemental to the other insurance coverage’s contained in the agreement with the Association and shall not permit the employee to withdraw from these basic insurance coverage’s. Blank
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Related to IRS Section 125 Salary Reduction Program

  • Dependent Care Salary Reduction Plan The Employer agrees to maintain the current dependent care salary reduction plan that allows eligible employees, covered by this Agreement, the option to participate in a dependent care reimbursement program for work-related dependent care expenses on a pretax basis as permitted by federal tax law or regulation.

  • Salary Reduction A reduction in pay from one step to another, which is not below the minimum rate established for the position by the salary plan. A copy of the notice of reduction shall be sent promptly to the City Manager Department for inclusion in the employee's official personnel file.

  • Basic Plan All services are subject to an annual deductible of $50 per person and $100 per family. Preventive services are covered at 100%. After paying the deductible, the plan provides usual, customary, and reasonable (UCR) coverage at 100% for diagnostic and restorative services, and 80% for major services. Orthodontia is not covered.

  • Full Employer Contribution - Basic Eligibility Employees covered by this Agreement who are scheduled to work at least seventy-five (75) percent of the time are eligible for the full Employer Contribution. This means:

  • Beneficiary Rollovers from Employer-Sponsored Retirement Plans If you are a spouse Beneficiary, nonspouse Beneficiary, or the trustee of an eligible type of trust named as Beneficiary of a deceased employer plan participant, you may directly roll over inherited assets from a qualified retirement plan, 403(a) annuity, 403(b) tax-sheltered annuity, or 457(b) governmental deferred compensation plan to an inherited IRA. The IRA must be maintained as an inherited IRA, subject to the beneficiary distribution requirements.

  • Safe Harbor The recipient government will then compare the reporting year’s actual tax revenue to the baseline. If actual tax revenue is greater than the baseline, Treasury will deem the recipient government not to have any recognized net reduction for the reporting year, and therefore to be in a safe harbor and outside the ambit of the offset provision. This approach is consistent with the ARPA, which contemplates recoupment of Fiscal Recovery Funds only in the event that such funds are used to offset a reduction in net tax revenue. If net tax revenue has not been reduced, this provision does not apply. In the event that actual tax revenue is above the baseline, the organic revenue growth that has occurred, plus any other revenue-raising changes, by definition must have been enough to offset the in-year costs of the covered changes.

  • Partial Employer Contribution - Basic Eligibility The following employees covered by this Agreement receive the full Employer Contribution for basic life coverage, and at the employee's option, a partial Employer Contribution for health and dental coverages if they are scheduled to work at least fifty (50) percent but less than seventy-five (75) percent of the time. This means:

  • Effective Date of Benefit Termination Medical, dental and life coverage termination will take effect on the first of the month following the loss of eligible employee or dependent status. Disability benefit coverage terminations will take effect on the day following loss of eligible employee status.

  • Program Benefits Under the Probation Status, the Participating Contractor will be eligible for all contractor incentives, its customers will have access to financing offered through the Program, and income- eligible households will be eligible to receive Program incentives.

  • What Forms of Distribution Are Available from a Xxxxxxxxx Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

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