Common use of Section 125 Provisions Clause in Contracts

Section 125 Provisions. The benefits provided to employees by the provisions of Section 125 of the U.S. Revenue Code (Flexible Benefit Plan), Generation I and Generation II, shall be made available by the Board to all employees. The monthly administrative costs/fees shall be paid by the Board. The amount paid to the Public Employees’ Retirement Fund (PERF) for each employee covered by the Public Employees’ Retirement Fund and who participates in Section 125 shall be based on the employee’s gross earnings before the Section 125 deductions are made and shall not cause such employee’s PERF contributions to be reduced as a result of participation in Section 125.

Section 125 Provisions. The benefits provided to employees Employees by the provisions of Section 125 of the U.S. Revenue Code (Flexible Benefit Plan), Generation I and Generation II, shall be made available by the Board to all employeesBus Drivers. The monthly administrative costs/fees shall be paid by the Board. The amount paid to the Public Employees’ Employees Retirement Fund (PERF) for each employee Employee covered by the Public Employees’ Employees Retirement Fund and who participates in Section 125 shall be based on the employeeEmployee’s gross earnings before the Section 125 deductions are made and shall not cause such employeeEmployee’s PERF contributions to be reduced as a result of participation in Section 125.