Common use of Section 125 Benefit Plan Clause in Contracts

Section 125 Benefit Plan. A Section 125 Benefit Plan will be offered to all employees as specified under the terms of the Section 125 contract. Employees may reduce salary annually at the start of each plan year by up to fifty percent (50%) of salary for the selection of benefits, under section 125 of the Internal Revenue Code, which are non-taxable benefits of health insurance, long term and short-term disability, life insurance, non-reimbursed medical costs, and dependent care. Administrative costs of the plan shall be paid by the Board. Individual monthly administrative costs for each employee's plan shall be paid by the employee.

Section 125 Benefit Plan. A Section 125 Benefit Plan will be offered to all employees as specified under the terms of the Section 125 contract. Employees may reduce salary annually at the start of each plan year by up to fifty percent (50%) of salary for the selection of benefits, under section 125 of the Internal Revenue Code, which are non-taxable benefits of health insurance, long term and short-short term disability, life insurance, non-reimbursed medical costs, and dependent care. Administrative costs of the plan shall be paid by the Board. Individual monthly administrative costs for each employee's plan shall be paid by the employee.