Dependent Care Account definition

Dependent Care Account means the bookkeeping account established for each Participant to reflect the transactions of the FSA Plan in providing Dependent Care Account benefits to Participants in accordance with this FSA Plan summary plan description, and in accordance with the NAD Section 125 Cafeteria Plan.
Dependent Care Account means the Dependent Care Account established pursuant to Chapter
Dependent Care Account means the individual account established under the Plan in the name of each Participant for the purpose of accounting for credits and benefits for Qualifying Dependent Care Expenses paid for or on behalf of the Participant.

Examples of Dependent Care Account in a sentence

  • An Employee who re-enrolls in a Health Flexible Spending Account or Dependent Care Account after such time must re-enter the Plan and reinstate their original elections for that Plan Year with adjustments to the annual election amount as the Administrator deems necessary to prorate the annual election amount over the remainder of the Plan Year.

  • If such Employee returns within the same Plan Year, prior contributions made to the Health Flexible Spending Account and/or the Dependent Care Account will be taken into consideration so as not to exceed Plan or IRS maximums.

  • If you are married filing separately, the amount contributed for a Dependent Care Account cannot be greater than $2,500.

  • If an employee has dependents that need care in order for the employee to work, the employee may use the Dependent Care Account to pay this cost with pre-tax dollars.

  • If there are enough credits to your Dependent Care Account, you will be reimbursed for your Eligible Employment Related Expenses on the next scheduled processing date.

  • If your claim was for an amount that was more than your current Dependent Care Account balance, the excess part of the claim will be carried over into following months, to be paid out as your balance becomes adequate.

  • In general, the amount contributed for a Dependent Care Account cannot be greater than the earned salary of you or your spouse, whichever is less.

  • Employees shall continue to be permitted to contribute up to $2,500 to the Medical Spending Account and $5,000 to the Dependent Care Account.

  • Faculty members participating in the Dependent Care Account (DCA), may set aside part of their salary each payday through payroll salary reduction and request reimbursement from this account after a dependent care expense is incurred.

  • Other deductions may be made, upon request, for one or more of the following purposes: retirement annuities, including supplemental payments; medical coverage, and other insurance; charitable contributions (through the United Way); contributions to the College for the Student Emergency Fund, Dependent Care Account (see section P) or other purposes; and Credit Union savings or loan payments.


More Definitions of Dependent Care Account

Dependent Care Account means the Dependent Care Account established pursuant toChapter 7..
Dependent Care Account. Eligible Expenses from Day Care Centers for dependents under age 15, disabled child(ren), spouse, parent. $ (Amount rounded to $100 increments but no more than $2,500 if filing single or separate returns, and $5,000 if filing joint) Your selections are irrevocable during the effective period except for changes in family status (e.g. birth, death, marriage, divorce, adoption, or change in your spouse’s employment. I agree that my employer may change or suspend the reduction of compensation if the Internal Revenue Service, through legislation of restrictive regulation, limits or prohibits salary reduction under Section 125(g) of the Internal Revenue Code. I understand that services must be incurred by Sept. 15th. I have until November 15th to file a reimbursement claim. Any amount still remaining at that time shall be forfeited. Further, I accept responsibility for the proper treatment of benefits paid under this plan with respect to all individual income tax reporting. Employee Signature: Date:
Dependent Care Account. The Company will continue its flexible spending ---------------------- account program that allows pre-tax funding of dependent care and child care expenses.

Related to Dependent Care Account

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Inactive Account means a trader’s Account which had Client-Initiated activity and subsequently it remained inactive for a period of 90 days.