Dependent Care Assistance Plan definition
Examples of Dependent Care Assistance Plan in a sentence
The Employer shall continue the voluntary Dependent Care Assistance Plan (DCAP), which complies with the requirement for federal tax deductibility.
All full-time faculty members shall be given the opportunity to participate in a Dependent Care Assistance Plan established by the administration.
Employees should consult this handbook before electing to participate in the Dependent Care Assistance Plan.
The purpose of this Section 125 Dependent Care Assistance Plan (DCAP) is to permit eligible employees to make an election to pay for certain dependent care expenses with salary reduction from compensation contributed to the Plan before federal income or social security taxes are paid to the Internal Revenue Service (“Salary Reduction”) in accordance with Sections 125 and 129 of the Internal Revenue Code (IRC) of 1986 and regulations issued pursuant thereto.
This agreement (1) is subject to the terms of the employer's Flexible Benefits Plan, Medical Care Reimbursement Plan and/or Dependent Care Assistance Plan in effect as amended from time to time, (2) shall be governed by and construed in accordance with applicable laws, (3) shall take effect as a sealed instrument under applicable laws, and (4) to the extent allowed by law, revokes any prior election and compensation redirection agreement relating to such plan(s) for the corresponding Plan Year.
For so long as such plans exist, all employees who are employed in a regular .5 FTE or greater position in the bargaining unit shall be eligible for participation in the County Medical Reimbursement Plan and the Dependent Care Assistance Plan.
The Employer agrees to enable Association members, who so elect, to participate in any Dependent Care Assistance Plan that is generally made available to employees of the Commonwealth.
Once a salary reduction has begun, in no event will changes in elections be permitted during the Plan Year except to the extent permitted under Internal Revenue Service rulings and regulations and the County’s Dependent Care Assistance Plan Document.
For so long as such plans exist, all employees who are employed in a regular half-time or greater position shall be eligible for participation in the County Medical Reimbursement Plan and the Dependent Care Assistance Plan.
DEPENDENT CARE ASSISTANCE PLAN (DCAP) The purpose of Section 125 Dependent Care Assistance Plan (DCAP) is to permit eligible employees to make an election to pay qualifying dependent care expenses with salary reduction from compensation contributed to the Plan before federal income or social security taxes are paid to the Internal Revenue Service (“Salary Reduction”) in accordance with Sections 125 and 129 of the Internal Revenue Code (IRC) of 1986 and regulations issued pursuant thereto.