125 Plan definition

125 Plan. The part of any employee’s insurance premium not paid for by the District shall be deducted from the employee’s checks under a Section 125 Plan administered by the District. In addition, employees may use the Section 125 Plan for non-reimbursed medical and child-care costs.
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125 Plan shall allow for a “sheltering benefit” for unreimbursed medical expenses and/or dependent care. Any administrative fee for this “sheltering benefit” shall be paid by the employee.
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125 Plan has the meaning set forth in Section 4.12(b).
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Examples of 125 Plan in a sentence

  • The employee shall contribute the employee’s 5% share of the monthly health and dental insurance premium cost for the 2024-2025 contract year, which covers the months of September 2024 through August 2025, through a Section 125 Plan deduction from salary.

  • The Board will maintain a Section 125 plan for premiums only in addition to a flexible account that includes eligible medical expenses and dependent care expenses with participating employees paying whatever the administrative charge is to run the 125 Plan.

  • No fee or expenses shall be charged to unit members for implementation and operation of the IRC 125 Plan.

  • The Board will make a Section 125 Plan available to the employee.

  • The Authority agrees to maintain the health and dependent care 125 Plan up to the maximum amounts approved by the Internal Revenue Service (IRS).

  • The Board shall, at no cost to the Board, provide a Section 125 Plan opportunity to all teachers which shall include three sections and shall comply with Ohio and Federal tax law.

  • The district shall provide a Section 125 Plan under the Internal Revenue code for all employees.

  • The District shall maintain an IRC 125 Plan whereby unit members can pay for out-of-pocket health insurance premiums, excess medical costs, dependent day care with pre-tax dollars consistent with carrier requirements.


More Definitions of 125 Plan

125 Plan. The Board will offer a Premium Only Section 125 Plan. This plan will provide tax-exempt treatment of Employee premium contributions for the group health insurance offered to Teachers. If the IRS declares this Section 125 plan to be illegal, it will be discontinued.
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125 Plan has the meaning ascribed to such term in Section 3.17(a)(iii).
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Related to 125 Plan

  • Flexi Plan means any individual indemnity hospital insurance plan under the VHIS framework with enhancement(s) to any or all of the protections or terms and benefits that the Standard Plan provides to the Policy Holder and the Insured Person, subject to certification by the Government. Such plan shall not contain terms and benefits which are less favourable than those in the Standard Plan, save for the exception as may be approved by the Government from time to time.

  • Savings Plan or "plans" means a plan that provides different investment strategies and allows account distributions for qualified higher education expenses.

  • Plan 3 means the teachers' retirement system, plan 3

  • 401(k) Plan has the meaning set forth in Section 6.10.

  • EHC plan means an Education, Health and Care plan made under sections 37(2) of the Children and Families Act 2014.

  • Dental plan means any dental insurance policy, including those of nonprofit health service plans, and those of commercial group, blanket, and individual policies, any subscriber contracts issued by Health Maintenance Organizations (HMOs), and any other established programs under which the insured may make a claim. The term Dental Plan includes coverage under a governmental plan, or coverage required to be provided by law. This does not include a State plan under Medicaid (Title XIX, Grants to States for Medical Assistance Programs, of the United States Social Security Act, as amended from time to time.)

  • Plan means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA.

  • Restoration Plan means all technical and organisational measures necessary for the restoration of the system back to normal state;

  • Qualified Plan means a Benefit Arrangement that is intended to be tax-qualified under Section 401(a) of the Internal Revenue Code.

  • Health benefits plan means a benefits plan which pays or

  • Retirement Plan means a plan which provides retirement benefits to you and which is not funded wholly by your contributions. The term shall not include a profit-sharing plan, informal salary continuation plan, registered retirement savings plan, stock ownership plan, 401(K) or a non-qualified plan of deferred compensation.

  • Basin plan means the same as “water quality control plan” as defined in Division 7 (commencing with Section 13000) of the Water Code. Basin Plans are adopted by each Regional Water Board, approved by the State Water Board and the Office of Administrative Law, and identify surface water and groundwater bodies within each Region’s boundaries and establish, for each, its respective beneficial uses and water quality objectives. Copies are available from the Regional Water Boards, electronically at each Regional Water Boards website, or at the State Water Board’s Plans and Policies web page (http://www.waterboards.ca.gov/plans_policies/).