125 Plan definition

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. 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 has the meaning set forth in Section 5.09.
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Examples of 125 Plan in a sentence

  • Teachers are provided benefits in accordance with the negotiated agreement, group health insurance plan requirements, and the school district’s Section 125 Plan document.

  • The Section 125 Plan (Flexible Spending Plan) offered by the School District is a plan established to provide a way to save money on costs for medical and dependent care expenses.

  • For purposes of Section 5(c) of this Agreement, Base Salary shall be defined as the amount reported in Box 1 of the Executive’s Form W-2, plus amounts deferred under the Bank’s 401(k) Plan and/or Section 125 Plan (if any), or deferred at the Executive’s election or on behalf of the Executive to any non-qualified deferred compensation plan of the Bank or the Company.

  • The employee may elect to receive the money in lump-sum payment or defer receipt for purchase of eligible insurance benefits through an Internal Revenue Code, Section 125 Plan.

  • Employee medical premium payments can be made via a pre-tax Section 125 Plan option when available.

  • Premium costs for eligible group insurance plans will be processed through the 125 Plan (flexible spending plan) with the Agency paying the administrative fee for the insurance premium account.

  • Employees electing to participate in this 125 Plan shall be responsible for any required monthly administration fees.

  • This comprehensive program currently covers medical and dental benefits, life and disability insurances, and a Section 125 Plan.

  • Part-time employees may utilize the IRS Section 125 Plan for payments.

  • The District shall provide for full- time employees, an Internal Revenue Service Section 125 Plan, with a District approved program administrator, to cover medical and dependent care expenses.


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

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

  • Company 401(k) Plan has the meaning set forth in Section 6.4(e).

  • Plan means any “employee benefit plan” (as such term is defined in Section 3(3) of ERISA) established by the Borrower or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate.

  • 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.

  • Retirement Savings Plan means the Air Products and Chemicals, Inc. Retirement Savings Plan, as amended from time to time, together with any similar, succeeding or substitute plan.

  • 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/).

  • Plan A means the 1997 Incentive Stock Option Plan;