Common use of Section 125 Program Clause in Contracts

Section 125 Program. The North East School District shall establish a Flexible Spending Account Plan and select a plan administrator with the provisions of Section 125 of the Internal Revenue Code. Employees may voluntarily participate in the Flexible Spending Account to pay for dependent care and unreimbursed medical expenses in accordance with the provisions of Section 125 of the Internal Revenue Code. North East School District will establish a payroll deduction slot for the Section 125 Plan. An employee may elect to withdraw or enroll from the plan on a yearly basis at times approved by the District, the plan administrator and the Internal Revenue Code.

Section 125 Program. The North East School District shall establish a Section 125 Flexible Spending Account Benefit Plan and select a plan administrator in accordance with the provisions of Section 125 of the Internal Revenue Code. Employees may voluntarily participate in the Flexible Spending Account to pay for dependent care and unreimbursed medical expenses in accordance with the provisions of Section 125 of the Internal Revenue Code. North East School District will establish a payroll deduction slot for the District selected Third Party Administrator of the Section 125 Flexible Benefit Plan. An employee may elect to withdraw or enroll from the plan on a yearly basis at times approved by the District, the plan administrator and the Internal Revenue Code.