Common use of Section 125 Flexible Spending Account Clause in Contracts

Section 125 Flexible Spending Account. Unit member expanded use of section 125 flexible spending accounts will be determined by the District/Association JBC, consistent with the terms of a December 17, 1999, memo from the District to the Association. Any net District FICA savings as determined by the formula in the December 17, 1999, memo in excess of thirty thousand three hundred thirty one dollars ($30,331.00) per year shall be transferred to the JBC reserve fund in Section 6.4.a.

Section 125 Flexible Spending Account. Unit member expanded use of section 125 flexible spending accounts will be determined by the District/Association JBC, consistent with the terms of a December 17, 1999, memo from the District to the Association. Any net District FICA savings as determined by the formula in the December 17, 1999, memo in excess of thirty thousand three hundred thirty one dollars ($30,331.00) per year shall be transferred to the JBC reserve fund in Section 6.4.a6.3.