Common use of Reimbursement Account Plan Clause in Contracts

Reimbursement Account Plan. The Town will maintain, pursuant to the provisions of Section 125 of the Internal Revenue Code, a Reimbursement Account Plan (an "RA Plan") for the purpose of enabling eligible Employees to divert a portion of their gross salaries, prior to reduction for federal income or social security taxes, into an account from which, during the course of the Plan Year, they can be reimbursed for their share of Group Insurance Premiums (“Premium Conversion”), Health Care costs (“Health Care Reimbursement”) which are not covered by the Medical or Dental Plans described in this ARTICLE, and Dependent Care costs (“Dependent Care Reimbursement”). Each Employee will be permitted to divert a maximum of $5,000 per Twelve (12)-Month Year for Dependent Care and $2,700 per Plan Year for Health Care Reimbursement. There is no specific maximum limit for Premium Conversion, but all diversions of income to the RA Plan are subject to applicable provisions of the Internal Revenue Code. In addition, the following provisions will apply:

Reimbursement Account Plan. The Town will maintaincontinue, pursuant to the provisions of Section 125 of the Internal Revenue Code, a Reimbursement Account Plan (an "RA Plan") for the purpose of enabling eligible Employees to divert a portion of their gross salariespay, prior to reduction for federal income or social security Social Security taxes, into an account from which, during the course of the Plan Year, they can be reimbursed for their share of Group Insurance Premiums (“Premium Conversion”), Health Care costs (“Health Care Reimbursement”) which are not covered by the Medical or Dental Plans described in this ARTICLEArticle, and Dependent Care costs (“Dependent Care Reimbursement”). Each Employee will be permitted to divert a maximum of $5,000 per Twelve (12)-Month Month-Year for Dependent Care and $2,700 1,500 per Plan Year for Health Care Reimbursement. There is no specific maximum limit in this Agreement for Premium Conversion, but all diversions of income to the RA Plan are subject to applicable provisions of the Internal Revenue Code. In addition, the following provisions will apply:

Reimbursement Account Plan. The Town will maintain, pursuant to the provisions of Section 125 of the Internal Revenue Code, a Reimbursement Account Plan (an "RA Plan") for the purpose of enabling eligible Employees to divert a portion of their gross salaries, prior to reduction for federal income or social security taxes, into an account from which, during the course of the Plan Year, they can be reimbursed for their share of Group Insurance Premiums (“Premium Conversion”), Health Care costs (“Health Care Reimbursement”) which are not covered by the Medical or Dental Plans described in this ARTICLE, and Dependent Care costs (“Dependent Care Reimbursement”). Each Employee will be permitted to divert a maximum of $5,000 per Twelve (12)-Month Year for Dependent Care and $2,700 5,000 per Plan Year for Health Care Reimbursement. There is no specific maximum limit for Premium Conversion, but all diversions of income to the RA Plan are subject to applicable provisions of the Internal Revenue Code. In addition, the following provisions will apply: