Common use of Section 125 Flexible Benefits Plan Clause in Contracts

Section 125 Flexible Benefits Plan. The Manchester Board of Education agrees to establish a Section 125 Flexible Benefits Plans subject to Federal and State Law and IRS Rules and Regulations. The Board will modify its Section 125 Plan to: 1. Provide for pre-tax treatment of dependent care expenses, subject to the provisions of Section 125 of the Internal Revenue Code. The Board of Education reserves the right to use a third party to administer the Section 125 Flexible Benefits Plan. If a third party is used to administer the 125 flexible benefits plan, the Board shall pay the set-up fee for such accounts and the teachers shall pay the monthly service fee if required.

Section 125 Flexible Benefits Plan. The Manchester Board of Education agrees to establish maintain a Section 125 Flexible Benefits Plans subject to Federal and State Law and IRS Rules and Regulations. The Board will modify its Section 125 Plan to: 1. Provide will provide for pre-tax treatment of dependent care expenses, subject to the provisions of Section 125 of the Internal Revenue Code. The Board of Education reserves the right to use a third party to administer the Section 125 Flexible Benefits Plan. If a third party is used to administer the 125 flexible benefits plan, the Board shall pay the set-up fee for such accounts and the teachers nurses shall pay the monthly service fee if required.