Common use of Section 125 Flexible Spending Accounts Clause in Contracts

Section 125 Flexible Spending Accounts. Employee 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 on section 125 flexible spending accounts. Any net District FICA savings as determined by the formula in the December 17, 1999, memo in excess of twenty two thousand three hundred eighty one dollars ($22,381.00) per year shall be transferred to the JBC reserve fund in section 17.6.