Section 125 and Premium Pass-Through Benefits. The University shall contract with a carrier to serve as Third Party Administrator (TPA) for Section 125; those plans are premium pass-through, flexible spending account and dependent care account benefits for University employees. Eligibility for, and use of, this program shall be governed by IRC Section 125. There shall be no initiation or sign up fees for employees. Monthly administrative charges, if any, for the TPA shall be paid by payroll deduction by those employees selecting this benefit. Employee contributions under Section 125 shall also be made by payroll deduction up to the maximum allowable amount for the Flexible Spending Account and the Dependent Day Care under applicable federal regulations per account. An individual selecting this plan shall participate in the plan from January 1 to December 31.
Section 125 and Premium Pass-Through Benefits. The University shall contract with a carrier to serve as Third Party Administrator (TPA) for Section 125; those plans are premium pass-through, flexible spending account and dependent care account benefits for University employees. Eligibility for, and use of, this program shall be governed by IRC Section 125. There shall be no initiation or sign up fees for employees. Monthly administrative charges, if any, for the TPA shall be paid by payroll deduction by those employees selecting this benefit and shall not increase for the duration of this Agreement. Employee contributions under Section 125 shall also be made by payroll deduction up to the maximum of $5,000.00 per account. An individual selecting this plan shall participate in the plan from January 1 to December 31.
Section 125 and Premium Pass-Through Benefits. The University shall contract with a carrier to serve as Third Party Administrator (TPA) for Section 125 and premium pass-through benefits for University employees. Eligibility for, and use of, this program shall be governed by IRC Section 125. There shall be no initiation or sign-up fees for employees. Monthly administrative charges, if any, for the TPA shall be paid by payroll deduction by those employees selecting this benefit and shall not increase for the duration of this Agreement. Employee contributions under Section 125 shall also be made by payroll reduction. An individual selecting this plan shall participate in the plan from January 1 to December 31.
