Qualified Benefit definition

Qualified Benefit means any benefit excluded from the Employee’s taxable income under Chapter 1 of the Code other than Sections 106(b), 117, 124, 127 or 132 and any other benefit permitted by the Income Tax Regulations (i.e., any group term life insurance coverage that is includable in gross income by virtue of exceeding the dollar limitation on nontaxable coverage under Code Sec. 79) Notwithstanding the previous sentence, long-term care insurance is not a “Qualified Benefit.”

Qualified Benefit means one or more of the following benefits permitted under Section 125 of the Code and offered through the Plan (as specified in the Plan Highlights): (i) payment of Dental Insurance premiums; (ii) payment of Disability Insurance premiums; (iii) payment of Health Insurance premiums; (iv) payment of Life Insurance premiums; (v) payment of Vision Insurance premiums; (vi) reimbursement of Adoption Expenses, but only to the extent not otherwise reimbursable; (vii) reimbursement of Dependent Care Expenses, but only to the extent not otherwise reimbursable; (viii) reimbursement of Medical Expenses, but only to the extent not otherwise reimbursable; and (ix) Health Savings Account contributions.

Qualified Benefit means any benefit excluded from the Employee's taxable income under Chapter 1 of the Code other than Sections 106(b), 117, 124, 127, or 132 and any other benefit permitted by the Income Tax Regulations (i.e., any group-term life insurance coverage that is includable in gross income by virtue of exceeding the dollar limitation on nontaxable coverage under Code Sec. 79). Notwithstanding the previous sentence, long-term care insurance is not a "Qualified Benefit."

Examples of Qualified Benefit in a sentence

• Administration of the PlanThe Investment and Administrative Committee of The Walt Disney Company Sponsored Qualified Benefit Plans and Key Employees Deferred Compensation and Retirement Plan (the “Committee” or “Plan Administrator”) administers the Plan, interprets its provisions and resolves all issues arising in the administration of the Plan.

• Claims and appeals relating solely to eligibility to participate in the Plan (including eligibility to make or change elections for a particular Qualified Benefit available under the Plan) are subject only to the Eligibility Claims and Appeal Procedure contained in Section 7.2 below.

• The following procedures apply if a Claimant is inquiring about eligibility to participate in the Plan (including eligibility to make or change elections for a particular Qualified Benefit available under the Plan).

• The benefits, participation requirements, and other terms and conditions for Qualified Benefits are provided subject to the terms and conditions of the plan or policy governing each Qualified Benefit.

• Administration of the Plan The Investment and Administrative Committee of The Walt Disney Company Sponsored Qualified Benefit Plans and Key Employees Deferred Compensation and Retirement Plan (the “Committee” or “Plan Administrator”) administers the Plan, interprets its provisions and resolves all issues arising in the administration of the Plan.

More Definitions of Qualified Benefit

Qualified Benefit means any benefit excluded from the Employee's taxable income under Chapter 1 of the Code other than Sections 106(b), 117, 124, 127, or 132 and any other benefit permitted by the Income Tax Regulations (i.e., any life insurance coverage that is includable in gross income by virtue of exceeding the dollar limitation on nontaxable coverage under Code Sec. 79). Notwithstanding the previous sentence, benefits prohibited under Section 125(f) (e.g. qualified health plans (as defined in Section 1301 of the Affordable CareAct) that are purchased in the individual market through a public Exchange and long-term care insurance) are not "Qualified Benefits".

Qualified Benefit means the aggregate annual benefit payable to a Participant pursuant to the Qualified Plan by reason of the Participant’s termination of employment with PSEG and all Affiliates for any reason other than death.

Qualified Benefit means any Benefit which, with the application of Code Section 125(a), is not includable in the gross income of an Employee by reason of an express provision of Chapter 1 of the Code.

Qualified Benefit means a benefit offered under a Component Plan attributable to employer contributions to the extent that it is not currently included in the Participant’s income and is included as a qualified benefit in Code Section 125(f).

Qualified Benefit means a benefit that is excludable from gross income under an express provision of IRS Section 125.

Qualified Benefit means any benefit excluded from taxation under Chapter I of the Code (other than Sections 117, 124, 127, or 132), including (a) any group-term life insurance coverage that is includible in gross income only by virtue of exceeding the dollar limitation on nontaxable coverage under Section 79 of the Code; and (b) any other benefit permitted by the Income Tax Regulations.

Qualified Benefit means any benefit excluded from the Employee’s taxable income under Chapter 1 of the Code (other than benefits excluded under Code §§ 106(b), 117, 127, or 132) and any other benefit permitted by regulations under the Code (i.e., any group-term life insurance coverage that is includible in gross income by reason of exceeding the dollar limitation on non- taxable coverage under Code § 79). Long-term care insurance shall not be a Qualified Benefit.