Common use of Section 125 Flexible Spending Clause in Contracts

Section 125 Flexible Spending. The BOARD will extend Section 125 flexible spending benefits to its full-time TEACHERS. Coverage will extend to qualified benefits under Section 125 of the Internal Revenue Code for qualified health care and dependent care expenses. 1. The BOARD will have the right to select the administrating agent of the IRS Section 125 individual accounts. 2. Each full-time TEACHER may take the maximum payroll deduction for medical expenses and the maximum payroll deduction for dependent care expenses that are allowable under the IRS regulation. It remains the full-time TEACHER’S responsibility to make sure that the deduction meets the IRS regulation.

Section 125 Flexible Spending. The BOARD will extend Section 125 flexible spending benefits to its full-time TEACHERS. Coverage will extend to qualified benefits under Section 125 of the Internal Revenue Code for qualified health care and dependent care expenses. 1. The BOARD will have the right to select the administrating agent of the IRS Section 125 individual accounts. 2. Each full-time TEACHER may take the maximum payroll deduction for medical expenses and the maximum payroll deduction for dependent care expenses that are allowable under the IRS regulation. It remains the full-time TEACHER’S 'S responsibility to make sure that the deduction meets the IRS regulation.