Common use of Section 125 Premium Conversion Plan Clause in Contracts

Section 125 Premium Conversion Plan. Eligible employees shall be provided with a Section 125 Premium Conversion Plan. The purpose of the Plan is to provide employees a choice between paying premiums with either pre-tax salary reductions or after-tax payroll deductions for medical insurance. The amount of the pre-tax salary reduction or after-tax payroll deduction must be equal to the required insurance premium.

Section 125 Premium Conversion Plan. Eligible employees shall be provided with a Section 125 Premium Conversion Plan. The purpose of the Plan is to provide employees a choice between paying premiums with either pre-tax salary reductions or after-tax payroll deductions for medical insurance. The amount of the pre-pre- tax salary reduction or after-tax payroll deduction must be equal to the required insurance premium.

Section 125 Premium Conversion Plan. A. Eligible employees shall be provided with a Section 125 Premium Conversion Plan. The purpose of the Plan is to provide employees a choice between paying premiums with either pre-tax salary reductions or after-tax payroll deductions for medical health insurance, dental insurance, voluntary life (to the IRS specified limit) and accidental death and dismemberment insurance premiums currently maintained for Unit employees or any other program(s) mutually agreed upon by the parties. The amount of the pre-tax salary reduction or after-tax payroll deduction must be equal to the required insurance premium.