Opt-Out Provision. 1. The Board agrees to establish a Section 125 (I.R.S. Code) Plan for the purpose of making available a cash option. If an employee selects the cash option, it shall be included in the employee’s gross income as compensation. If an employee selects the insurance coverage, the value of such coverage is excludable in the employee’s gross income as compensation.
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Samples: Negotiated Agreement, Negotiated Agreement, Negotiated Agreement
Opt-Out Provision. 1. The Within the regulations of the carrier, the Board agrees to establish a Section 125 (I.R.S. Code) Plan for the purpose of making available a cash option. If an employee selects the cash option, it shall be included in the employee’s 's gross income as compensation. If an employee selects the insurance coverage, the value of such coverage is excludable in the employee’s 's gross income as compensation.
Appears in 2 contracts
Samples: Agreement, www.perc.state.nj.us
Opt-Out Provision. 1. The Within the regulations of the carrier, the Board agrees to establish a Section 125 (I.R.S. Code) Plan for the purpose of making available a cash option. If an employee selects the cash option, it shall be included in the employee’s gross income as compensation. If an employee selects the insurance coverage, the value of such coverage is excludable in the employee’s gross income as compensation.
Appears in 2 contracts
