Section 125 Generation II. This paragraph IV (E) will apply only to employees new to the Manchester Community Schools beginning with the 1992-93 year. The benefits provided to employees by Section 125 of the Revenue Act of 1978 shall be made available to any Teacher who is eligible to participate. An amount of the individual’s salary, not to exceed the IRS guidelines, may be set aside by the employee for the selection of benefits under Section 125 of the Internal Revenue Code, which are non-taxable benefits of major medical and dependent care. This plan shall be administered by a vendor recommended to the School Board by the Insurance Committee. All administration fees will be paid by the Board. Those electing Option B, high deductible plan, are prohibited by IRS Guidelines from participating in a Section 125 plan.
Appears in 5 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
