Common use of Salary Reduction Plan Clause in Contracts

Salary Reduction Plan. The Board shall maintain a salary reduction plan which meets the requirements of Section 125 of the Internal Revenue Code of 1986, as amended (“Code”). If at any time Code Section 125 or its related regulations are amended, the parties shall promptly revise the plan to comply with the amendment(s). An employee may elect to participate by choosing to receive benefits for the purposes set forth below, and in the amounts specified. The total amount elected shall be deducted from each employee’s compensation along with the deduction of contributions to the Illinois Municipal Retirement Fund which may be required on such salary reduction plan payments. Prior to the beginning of the plan year (which begins January 1 of each year), each employee shall, in writing, designate the dollar amount(s) elected for that year for each of the following benefits: A. Premiums for group health and dental insurance. B. Reimbursement for the amount of medical care expenses not covered by insurance or otherwise, as defined in Code Section 213, up to the maximum allowed under the law. C. Reimbursement for dependent care assistance as defined in Code Section 129, up to the maximum allowed under the law. The amounts designated may not be changed during the plan year except on account of a change in the participant’s family status or other circumstances provided in Code Section 125 or its related regulations. Any amount designated for reimbursement which remains unused at the end of a plan year shall be forfeited and not otherwise paid to the employee during that year, or carried over to a succeeding plan year. The total amount(s) of the benefits elected pursuant to the plan shall be deducted in equal amounts from the employee’s salary payments during the plan year, unless otherwise specified. Claims for reimbursement may be submitted no more than once per month, unless an agreement with a plan administrator provides otherwise. Claims for reimbursement must be for services received during the plan year.

Salary Reduction Plan. The Board shall maintain a salary reduction plan which meets the requirements of Section 125 of the Internal Revenue Code of 1986, as amended (“Code”"). If at any time Code Section 125 or its related regulations are amended, the parties shall promptly revise the plan to comply with the amendment(s). An employee may elect to participate by choosing to receive benefits for the purposes set forth below, and in the amounts specified. The total amount elected shall be deducted from each employee’s compensation along with the deduction of contributions to the Illinois Municipal Retirement Fund which may be required on such salary reduction plan payments. Prior to the beginning of the plan year (which begins January 1 of each year), each employee shall, in writing, designate the dollar amount(s) elected for that year for each of the following benefits: A. Premiums for group health and dental insurance. B. Reimbursement for the amount of medical care expenses not covered by insurance or otherwise, as defined in Code Section 213, up to the a maximum allowed under the lawof five thousand dollars ($5,000.00). C. Reimbursement for dependent care assistance as defined in Code Section 129, up to the a maximum allowed under the lawof five thousand dollars ($5,000.00) or two thousand, five hundred dollars ($2,500.00) if a married participant files a separate return. The amounts designated may not be changed during the plan year except on account of a change in the participant’s 's family status or other circumstances circumstance provided in Code Section 125 or its related regulations. Any amount designated for reimbursement which remains unused at the end of a plan year shall be forfeited and not otherwise paid to the employee during that year, or carried over to a succeeding plan year. The total amount(s) of the benefits elected pursuant to the plan shall be deducted in equal amounts from the employee’s 's salary payments during the plan year, unless otherwise specified. Claims for reimbursement may be submitted no more than once per month, unless an agreement with a plan administrator provides otherwise. Claims for reimbursement must be for services received during the plan year.

Salary Reduction Plan. The Board shall maintain a salary reduction plan which meets the requirements of Section 125 of the Internal Revenue Code of 1986, as amended (“Code”). If at any time Code time, such Section 125 or its related regulations are amended, the parties shall promptly revise the plan to comply with the amendment(s)amendment. An employee A teacher may elect to participate by choosing to receive benefits for the purposes set forth below, below and in the amounts specified. The total amount elected shall be deducted from each employee’s teacher's compensation along with the deduction of contributions to the Illinois Municipal Teachers' Retirement Fund System which may be required on such salary reduction plan payments. Prior to the beginning day of the plan year (which begins January 1 of each year), each employee teacher shall, in writing, designate the dollar amount(s) elected for that year for each of the following benefits: A. Premiums a. $ Premium for group health and dental heath insurance. B. b. $ Reimbursement for the amount of the deductibles on the group health insurance and for any other un-reimbursed medical care expenses not covered by insurance or otherwise, as defined in Section 213 of the Internal Revenue Code Section 213, up to the maximum allowed under the lawamount of fifteen thousand dollars ($15,000). C. c. $ Reimbursement for dependent care assistance as defined in Section 129 of the Internal Revenue Code Section 129, up to the maximum allowed under the lawfive thousand dollars ($5,000), or two thousand five hundred dollars ($2,500) if married participant files separate return. d. $ Premium for group term life insurance equal to nearest thousand dollar of salary up to fifty thousand dollars ($50,000). The amounts designated may not be changed during the plan year except on account of if there is a change in the participant’s family status or other circumstances circumstance provided in Code Section 125 or its related regulationsthe Regulations issued by the Internal Revenue Service. Any amount amounts designated for which valid reimbursement which remains unused at the end of claims are not made on a plan year timely basis shall be forfeited and not otherwise paid to the employee teacher during that year, year or carried over to a succeeding plan year. The dollar total amount(s) of the designated fringe benefits elected pursuant to the plan shall be deducted in equal amounts from the employee’s teacher's salary payments during the plan year, year unless otherwise specified. Claims for reimbursement may be submitted no more than once per month, month unless an agreement with a plan administrator provides otherwise. Claims for reimbursement must be for services received during the plan year. This agreement is contingent upon the district's appointed claims administrator approving the language. The Board shall pay for the set up fee. The teacher shall pay the monthly fee.

Salary Reduction Plan. The Board shall maintain a salary reduction plan which meets the requirements of Section 125 of the Internal Revenue Code of 1986, 1986 as amended (“"Code”"). If at any time Code Section 125 or its related regulations are amended, the parties shall promptly revise the plan to comply with the amendment(s). An employee A teacher may elect to participate by choosing to receive benefits for the purposes set forth below, below and in the amounts specified. The total amount elected shall be deducted from each employee’s teacher's compensation along with the deduction of contributions to the Illinois Municipal Teachers' Retirement Fund System which may be required on such salary reduction plan payments. Prior to the beginning day of the plan year (which begins January 1 of each year), each employee teacher shall, in writing, designate the dollar amount(s) elected for that year for each of the following benefits: A. a. Premiums for group health and dental insurance. B. b. Reimbursement for the amount of medical care expenses not covered by insurance or otherwise, as defined in Code Section 213, up to the a maximum allowed under the lawof five thousand dollars ($5,000.00). C. c. Reimbursement for dependent care assistance as defined in Code Section 129, up to the a maximum allowed under the lawof five thousand dollars ($5,000.00) or two thousand, five hun- dred dollars ($2,500.00) if a married participant files a separate return. The amounts designated may not be changed during the plan year except on account of a change in the participant’s 's family status or other circumstances circumstance provided in Code Section 125 or its related regulations. Any amount designated for reimbursement which remains unused at the end of a plan year shall be forfeited and not otherwise paid to the employee teacher during that year, or carried over to a succeeding plan year. The total amount(s) of the benefits elected pursuant to the plan shall be deducted in equal amounts from the employee’s teacher's salary payments during the plan year, unless otherwise specified. Claims for reimbursement may be submitted no more than once per month, unless an agreement with a plan administrator provides otherwise. Claims for reimbursement must be for services received during the plan year. The Board and the Association shall each pay one-half (1/2) of the initial set-up fee. Teachers participating in the plan shall pay any subsequently required individual monthly fees, including any administrative expenses.

Salary Reduction Plan. 1. The Board shall maintain a salary reduction plan which that meets the requirements of Section 125 of the Internal Revenue Code of 1986and any other applicable statutory or regulatory provision. If, as amended (“Code”). If at any time Code time, such Section 125 or its related regulations Regulations are amended, the parties shall promptly revise the plan to comply with the amendment(s)amendment. 2. An employee A Teacher may elect to participate by choosing to receive benefits for the purposes set forth below, below and in the amounts specified. The total amount elected shall be deducted from each employeeTeacher’s compensation along with the deduction of contributions to the Illinois Municipal Teachers’ Retirement Fund which System that may be required on such salary reduction plan payments. The plan year shall commence on September 1 and extend through August 31 of each year. Prior to the beginning day of the plan year (which begins January 1 of each year), each employee Teacher shall, in writing, designate the dollar amount(s) elected for that year for each of the following benefits: A. a. Premiums for group health and dental insurance, single or family coverage. B. b. Reimbursement for the amount of the deductibles on the group health insurance and for any other unreimbursed medical care expenses not covered by insurance or otherwise, as defined in Section 213 of the Internal Revenue Code Section 213, up to the maximum as allowed under the by law. C. c. Reimbursement for dependent care assistance as defined in Section 129 of the Internal Revenue Code Section 129, as allowed by law. d. Premium for group term life insurance equal to the nearest thousand dollars of salary up to the maximum allowed under the lawfifty thousand dollars ($50,000). e. Premium for required participation in long term disability insurance. 3. The amounts designated may not be changed during the plan year except on account of if there is a change in the participant’s family status or other circumstances circumstance provided in Code Section 125 or its related regulationsthe Regulations issued by the Internal Revenue Service. Any amount amounts designated for which valid reimbursement which remains unused at claims are not made by October 1st of the end of a following plan year shall will be forfeited and not otherwise paid to the employee Teacher during that year, year or carried over to a succeeding plan year. 4. The dollar total amount(s) of the designated salary reduction benefits elected pursuant to the plan shall will be deducted in equal amounts from the employeeTeacher’s salary payments during the plan year, year unless otherwise specified. 5. Claims for reimbursement may be submitted no not more often than once per month, month in minimum amounts of not less than one hundred dollars ($100) except for the final month in the plan year unless an agreement Agreement with a plan administrator provides otherwise. Claims for reimbursement must be for services received during the plan year.

Salary Reduction Plan. 1. The Board shall maintain a salary reduction plan which meets the requirements of Section 125 of the Internal Revenue Code of 1986and any other applicable statutory or regulatory provision. If, as amended (“Code”). If at any time Code time, such Section 125 or its related regulations Regulations are amended, the parties shall promptly revise the plan to comply with the amendment(s)amendment. 2. An employee A Teacher may elect to participate by choosing to receive benefits for the purposes set forth below, below and in the amounts specified. The total amount elected shall be deducted from each employeeTeacher’s compensation along with the deduction of contributions to the Illinois Municipal Teachers’ Retirement Fund System which may be required on such salary reduction plan payments. The plan year shall commence on September 1 and extend through August 31 of each year. Prior to the beginning day of the plan year (which begins January 1 of each year), each employee Teacher shall, in writing, designate the dollar amount(s) elected for that year for each of the following benefits: A. a. Premiums for group health and dental insurance, single or family coverage. B. b. Reimbursement for the amount of the deductibles on the group health insurance and for any other unreimbursed medical care expenses not covered by insurance or otherwise, as defined in Section 213 of the Internal Revenue Code Section 213, up to the maximum allowed under the lawamount of fifteen thousand dollars ($15,000). C. c. Reimbursement for dependent care assistance as defined in Section 129 of the Internal Revenue Code Section 129, up to five thousand dollars ($5,000), or two thousand five hundred dollars ($2,500) if a married participant files a separate return per calendar year. d. Premium for group term life insurance equal to the maximum allowed under the lawnearest thousand dollars of salary up to fifty thousand dollars ($50,000). e. Premium for required participation in long term disability insurance. 3. The amounts designated may not be changed during the plan year except on account of if there is a change in the participant’s family status or other circumstances circumstance provided in Code Section 125 or its related regulationsthe Regulations issued by the Internal Revenue Service. Any amount amounts designated for which valid reimbursement which remains unused at claims are not made by October 1st of the end of a following plan year shall will be forfeited and not otherwise paid to the employee Teacher during that year, year or carried over to a succeeding plan year. 4. The dollar total amount(s) of the designated salary reduction benefits elected pursuant to the plan shall will be deducted in equal amounts from the employeeTeacher’s salary payments during the plan year, year unless otherwise specified. 5. Claims for reimbursement may be submitted no not more often than once per month, in minimum amounts of not less than one hundred dollars ($100) except for the final month in the plan year, unless an agreement Agreement with a plan administrator provides otherwise. Claims for reimbursement must be for services received during the plan year.

Salary Reduction Plan. The Board shall maintain a salary reduction plan which meets the requirements of Section 125 of the Internal Revenue Code of 1986, 1986 as amended (“Code”). If at any time time, Code Section 125 or its related regulations are amended, the parties shall promptly revise the plan to comply with the amendment(s). An employee may elect to participate by choosing to receive benefits for the purposes set forth below, below and in the amounts specified. The total amount elected shall be deducted from each employee’s compensation along with the deduction of contributions to the Illinois Teachers’ Retirement System or Illinois Municipal Retirement Fund which may be required on such salary reduction plan payments. Prior to the beginning day of the plan year (which begins January 1 of each year), each employee shall, in writing, designate the dollar amount(s) elected for that year for each of the following benefits: A. : Premiums for group health and dental insurance. B. . Reimbursement for the amount of medical care expenses not covered by insurance or otherwise, as defined in Code Section 213, up to the maximum allowed under the law. C. of fifteen thousand dollars ($15,000). Reimbursement for dependent care assistance as defined in Code Section 129, up to the a maximum allowed under the lawof five thousand dollars ($5,000.00), or two thousand five hundred dollars ($2,500.00) if a married participant files a separate return. Premiums for group term life insurance equal to nearest thousand dollar increment of salary, up to fifty thousand dollars ($50,000). The amounts designated may not be changed during the plan year except on account of a change in the participant’s family status or other circumstances circumstance provided in Code Section 125 or its related regulations. Any amount designated for reimbursement which remains unused at the end of a plan year shall be forfeited and not otherwise paid to the employee during that year, or carried over to a succeeding plan year. The total amount(s) of the benefits elected pursuant to the plan shall be deducted in equal amounts from the employee’s salary payments during the plan year, unless otherwise specified. Claims for reimbursement may be submitted no more than once per month, unless an agreement with a plan administrator provides otherwise. Claims for reimbursement must be for services service received during the plan year. The Board shall pay the initial set-up fee. Employees participating in the plan shall pay any subsequently required individual monthly fees, including any administrative expenses.

Salary Reduction Plan. The Board shall maintain a salary reduction plan which meets the requirements of Section 125 of the Internal Revenue Code of 1986, as amended (“Code”). If at any time Code time, such Section 125 or its related regulations are amended, the parties shall promptly revise the plan to comply with the amendment(s)amendment. An employee A teacher may elect to participate by choosing to receive benefits for the purposes set forth below, below and in the amounts specified. The total amount elected shall be deducted from each employee’s teacher's compensation along with the deduction of contributions to the Illinois Municipal Teachers' Retirement Fund System which may be required on such salary reduction plan payments. Prior to the beginning day of the plan year (which begins January 1 of each year), each employee teacher shall, in writing, designate the dollar amount(s) elected for that year for each of the following benefits: A. Premiums a. $ Premium for group health and dental insurance. B. b. $ Reimbursement for the amount of the deductibles on the group health insurance and for any other un-reimbursed medical care expenses not covered by insurance or otherwise, as defined in Section 213 of the Internal Revenue Code Section 213, up to the maximum allowed under the lawamount of fifteen thousand dollars ($15,000). C. c. $ Reimbursement for dependent care assistance as defined in Section 129 of the Internal Revenue Code Section 129, up to the maximum allowed under the lawfive thousand dollars ($5,000), or two thousand five hundred dollars ($2,500) if married participant files separate return. d. $ Premium for group term life insurance equal to nearest thousand dollar of salary up to fifty thousand dollars ($50,000). The amounts designated may not be changed during the plan year except on account of if there is a change in the participant’s family status or other circumstances circumstance provided in Code Section 125 or its related regulationsthe Regulations issued by the Internal Revenue Service. Any amount amounts designated for which valid reimbursement which remains unused at the end of claims are not made on a plan year timely basis shall be forfeited and not otherwise paid to the employee teacher during that year, year or carried over to a succeeding plan year. The dollar total amount(s) of the designated fringe benefits elected pursuant to the plan shall be deducted in equal amounts from the employee’s teacher's salary payments during the plan year, year unless otherwise specified. Claims for reimbursement may be submitted no more than once per month, month unless an agreement with a plan administrator provides otherwise. Claims for reimbursement must be for services received during the plan year. This agreement is contingent upon the district's appointed claims administrator approving the language. The Board shall pay for the set up fee. The teacher shall pay the monthly fee.

Salary Reduction Plan. The Board shall maintain a salary reduction plan which meets the requirements of Section 125 of the Internal Revenue Code of 1986, as amended (“Code”"). If at any time Code Section 125 or its related regulations are amended, the parties shall promptly revise the plan to comply with the amendment(s). An employee may elect to participate by choosing to receive benefits for the purposes set forth below, and in the amounts specified. The total amount elected shall be deducted from each employee’s compensation along with the deduction of contributions to the Illinois Municipal Retirement Fund which may be required on such salary reduction plan payments. Prior to the beginning of the plan year (which begins January 1 of each year), each employee shall, in writing, designate the dollar amount(s) elected for that year for each of the following benefits: A. Premiums for group health and dental insurance. B. Reimbursement for the amount of medical care expenses not covered by insurance or otherwise, as defined in Code Section 213, up to the a maximum allowed under the lawof two thousand, five hundred dollars ($2,500.00). C. Reimbursement for dependent care assistance as defined in Code Section 129, up to the a maximum allowed under the lawof five thousand dollars ($5,000.00) or two thousand, five hundred dollars ($2,500.00) if a married participant files a separate return. The amounts designated may not be changed during the plan year except on account of a change in the participant’s 's family status or other circumstances circumstance provided in Code Section 125 or its related regulations. Any amount designated for reimbursement which remains unused at the end of a plan year shall be forfeited and not otherwise paid to the employee during that year, or carried over to a succeeding plan year. The total amount(s) of the benefits elected pursuant to the plan shall be deducted in equal amounts from the employee’s 's salary payments during the plan year, unless otherwise specified. Claims for reimbursement may be submitted no more than once per month, unless an agreement with a plan administrator provides otherwise. Claims for reimbursement must be for services received during the plan year.