Section 125 Flexible Spending Account Plan Sample Clauses

Section 125 Flexible Spending Account Plan. The District shall perform the same service for Federation members for any insurance plans offered exclusively by the Federation for Federation members, within the software and hardware constraints of the District payroll system. Upon appropriate written request from an employee, the District shall deduct from the salary of the employee and make direct deposit to a checking and/or savings account.
Sample 1Sample 2Sample 3See All (11)
AutoNDA by SimpleDocs
Section 125 Flexible Spending Account Plan. Upon appropriate written request from the employee, the District will make direct deposit of wages to financial institutions as directed by the employee.
Sample 1Sample 2Sample 3See All (9)
Section 125 Flexible Spending Account Plan. Employees may elect to have a certain dollar amount transferred from his/her paycheck into a special account to pay for expenses as they occur. This money is taken from the employee’s gross pay prior to taxes. The employee saves by not having to pay federal and most state and local taxes on the amount he/she set aside. Employees can pay for eligible out-of-pocket health care and dependent care expenses with pre-tax dollars. A flex plan is a Section 125 Plan, which provides tax savings by reducing employee medical premiums and employee elected dollars for out-of- pocket health care expenses and dependent care expenses from the employee’s gross salary prior to calculation of federal income and FICA taxes, as allowed under Internal Revenue Code (IRC) Section 125. Each employee’s participation is purely voluntary. To enroll an employee must:
Sample 1Sample 2Sample 3See All (5)
Section 125 Flexible Spending Account Plan. An employee may elect to have a certain dollar amount transferred from his/her paycheck into a special account to pay for expenses as they occur. This money is taken from the employee’s gross pay prior to taxes. The employee saves by not having to pay federal and most state and local taxes, as well as Social Security and Medicare taxes, on the amount he/she set aside. Employees can pay for eligible out-of-pocket health care and dependent care expenses with pre-tax dollars. A flex plan is a Section 125 Plan, which provides tax savings by reducing employee medical premiums and employee elected dollars for out-of-pocket health care expenses and dependent care expenses from the employee’s gross salary prior to calculation of federal income and FICA taxes, as allowed under Internal Revenue Code (IRC) Section 125. Each employee’s participation is purely voluntary. To enroll an employee must:
Sample 1Sample 2
Section 125 Flexible Spending Account Plan. Employees may elect to have a certain dollar amount transferred from his/her paycheck into a special account to pay for expenses as they occur. This money is taken from the Employee’s gross pay prior to taxes. The Employee saves by not having to pay federal and most state and local taxes on the amount he/she set aside. Employees can pay for eligible out-of-pocket health care and dependent care expenses with pre-tax dollars. A flex plan is a Section 125 Plan, which provides tax savings by reducing Employee medical premiums and Employee elected dollars for out-of-pocket health care expenses and dependent care expenses from the Employee’s gross salary prior to calculation of federal income and FICA taxes, as allowed under Internal Revenue Code (IRC) Section 125. Each employee’s participation is purely voluntary. To enroll an Employee must:
Sample 1
Section 125 Flexible Spending Account Plan. The District shall perform the same service for Federation members for any insurance plans offered exclusively by the Federation for Federation members, within the software and hardware constraints of the District payroll system. Upon appropriate written request from an employee, the District shall deduct from the salary of the employee and make direct deposit to a checking and/or savings account. The District may withhold from an employee’s final paycheck any amount of overpayment that results from an employee who has been issued equal monthly paychecks pursuant to Article 25.B and has terminated employment during the school year. The District warrants and agrees to indemnify, defend, and hold the Federation harmless for any withholding under this Section (Article 9, Section D).
Sample 1

Related to Section 125 Flexible Spending Account Plan

  • Flexible Spending Account (FSA) Beginning January 1, 1993, an employee may designate an amount per year to be placed into the employee’s Flexible Spending Account (as defined in Section 125 of the Internal Revenue Code as amended from time to time). The amounts in the account may be used to reimburse the employee for uncovered medical expenses. Amounts placed in the account are not subject to federal, state and Social Security (FICA) taxes. Reports of earnings to MTRFA and pension deductions will be based on gross earnings.

  • Flexible Spending Account The parties agree that the State shall have the right to use State Employee Health Plan funds to cover the administrative costs of operating the medical and dependent care flexible spending account programs.

  • Flexible Spending Accounts Employees in the unit shall have access to the County’s flexible spending account program, which provides employees with the options of dependent care assistance benefits with a calendar year maximum of $5,000, and medical expense reimbursement benefits with a calendar year maximum of $2,400. The County shall maintain this plan in compliance with IRC §125. Employee premiums for flexible spending account benefits shall be deducted on a pre-tax basis from employee pay.

  • Flexible Spending Plan As of the Employment Commencement Date, the Seller shall transfer, or use commercially reasonable efforts to cause to be transferred, from the Employee Plans that are medical and dependent care account plans (each, a “Seller FSA Plan”) to one or more medical and dependent care account plans established or designated by Buyer (collectively, the “Buyer FSA Plan”) the account balances (positive or negative) of Transferred Employees, and Buyer shall be responsible for the obligations of the Seller FSA Plans to provide benefits to the Transferred Employees with respect to such transferred account balances at or after the Employment Commencement Date (whether or not such claims are incurred prior to, on or after such date). Each Transferred Employee shall be permitted to continue to have payroll deductions made as most recently elected by him or her under the applicable Seller FSA Plan. As soon as reasonably practicable following the end of the plan year for the Buyer FSA Plan, including any grace period, Buyer shall promptly reimburse Seller for benefits paid by the Seller FSA Plans to any Transferred Employee prior to the Employment Commencement Date to the extent in excess of the payroll deductions made in respect of such Transferred Employee at or prior to the Employment Commencement Date but only to the extent that such Transferred Employee continues to contribute to the Buyer FSA Plan the amount of such deficiency. This Section 8.07 shall be interpreted and administered in a manner consistent with Rev. Rul. 2002-32.

  • Flexible Spending The Board shall make flexible spending accounts available to employees in the bargaining unit.

  • Health Spending Account (HSA Wellness Spending Account (WSA)/Registered Retirement Savings Plan (RRSP) utilization rates;

  • Payment Plans Employees covered by the Samaritan Choice medical insurance plan who have outstanding balances that are payable to Samaritan Health Services for in network, covered, and authorized (if medically necessary) services will be provided payment plan offerings upon request from the employee. The request will be made to Patient Financial Services, and may be directed through the Hospital Patient Financial Counselor. Patient Financial Services will work with employees to identify the appropriate payment arrangement based on the employee financial needs/eligibility. Within 120 days from first patient statement, employees must contact Patient Financial Services and identify themselves as a SHS SEIU member and ask for a payment plan arrangement that does not exceed six percent (6%) of their household income. Such requests will be granted using the existing SHS payment options and funding programs. To be eligible for a payment plan, employees must comply with all requirements for establishing appropriate payment options/eligibility, including the completion of a financial assistance application with supporting documentation. Employees who comply with all terms of the payment plan(s) will not be subject to collections or wage garnishment.

  • Health Spending Account contributions by the Executive will cease on the Effective Date. The Executive may submit claims against the balance accrued to the Effective Date, until the end of the calendar year in which the Effective Date occurs.

  • Health Care Spending Account After six (6) months of permanent employment, full time and part time (20/40 or greater) employees may elect to participate in a Health Care Spending Account (HCSA) Program designed to qualify for tax savings under Section 125 of the Internal Revenue Code, but such savings are not guaranteed. The HCSA Program allows employees to set aside a predetermined amount of money from their pay, not to exceed the maximum amount authorized by federal law, per calendar year, of before tax dollars, for health care expenses not reimbursed by any other health benefit plans. HCSA dollars may be expended on any eligible medical expenses allowed by Internal Revenue Code Section 125. Any unused balance is forfeited and cannot be recovered by the employee.

Time is Money Join Law Insider Premium to draft better contracts faster.