| Wilmot Union High School |
| Bylaws & Policies |
4419.03 - FLEXIBLE BENEFIT PLAN
The Board of Education shall maintain a cafeteria plan and flexible spending account which meets the requirements of Section 125 of the Internal Revenue Code. If, at any time such Section 125 or related Regulations are amended, the District shall promptly revise the plan to comply with the amendment.
An employee may annually elect to participate by choosing to receive benefits not to exceed $5,000 in any plan year for eligible dependent care expenses and $3,000 per year for eligible medical reimbursement. The amount elected shall be deducted from the employee’s compensation. Prior to the beginning day of the plan year, each employee shall, in writing, designate the dollar amounts(s) elected for that year for each of the following benefits:
| A. | Premiums for group medical, dental or other insurance, single or dependent coverage, to the extent such premiums are not paid by the Board. | |
| B. | Reimbursement for the amount of the deductibles on the group insurance and for any other qualified un-reimbursed medical care as defined in the Internal Revenue Code. | |
| C. | Reimbursement for qualified dependent care assistance as defined and allowed in the Internal Revenue Code. |
The amounts designated may not be changed during the plan year except if there is a change in family status or other circumstance provided in the Regulations issued by the Internal Revenue Service. Any amounts designated for which valid reimbursement claims are not made on a timely basis will be forfeited and not carried over to a succeeding plan year, and such amount shall become the property of the plan.
The dollar total of the designated benefits elected pursuant to the plan will be deducted in equal amounts from the employee’s salary payments during the plan year.
Claims for reimbursement may be submitted no more often than once per month in minimum amounts of not less than $50 (except for the final month in a plan year), unless an Agreement with a plan administrator provides otherwise. Claims for reimbursement must be for services received during the plan year.
Please see the Flexible Benefit Plan Summary Plan Description for more information regarding benefits under this Plan.
Adopted 10/12/11