Common use of Section 125 Account Clause in Contracts

Section 125 Account. A Section 125 flexible spending account shall be available to each employee for premium conversion plan. Dependent care and medical reimbursement plan will be available at the option of the Board. Participation in such account shall be at the option of each individual employee. The Board shall pay such administrative costs as may be required by the plan.

Section 125 Account. A Section 125 Account flexible spending account shall be available to each employee bargaining unit member for premium conversion plan. Dependent IRS-approved care and medical reimbursement plan plans will be available at the option of the Boardavailable. Participation in such an account shall be at the option of each individual employeebargaining unit member. The Board shall pay such administrative costs as may be required by the plan.