Common use of Section 125 Administration Clause in Contracts

Section 125 Administration. If IRS Rule changes threaten the tax exempt status of the Section 125 Plan, the parties will meet and confer regarding modifications to the Plan to allow it to retain its tax exempt status. To ensure this Section 125 plan shall not incur unreasonable costs, special coverage limits or exclusions may apply. If benefit options in effect as of ratification of this Agreement are no longer offered by the carrier during the term of this Agreement, MST shall notify MSTEA of changes in available benefits, and the parties shall meet and confer regarding this impact of the change, including alternate benefits or plan design. MST may also meet and confer with MSTEA as to the need or advantage to add, remove or modify benefit options (including, but not limited to, coverage levels and limits, deductible, and co-pay requirements) to this during the term of this Agreement without mutual agreement of the parties.