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) shall be made available by the Board to all employees. Any payroll deductions required by the plan shall be instituted by the Board. Neither the Association nor the Board shall be responsible for the advisability of the plan or its conformity to law. All costs including all monthly administrative costs/fees shall be paid by the Board. The amount paid to the Public Employees Retirement Fund for each employee 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 by the provisions of Section 125 of the U. S. Revenue Code (Flexible Benefit Plan) shall be made available by the Board to all employees. The Association shall select the carrier/administrator and the plan. Any payroll deductions required by the plan shall be instituted by the Board. Neither the Association nor the Board shall be responsible for the advisability of the plan or its conformity to law. All costs including all monthly administrative costs/fees shall be paid by the Board. The amount paid to the Public Employees Retirement Fund for each employee 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.