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Section E - PersonnelPolicy Number E120Flexible Spending Account
The St. Charles-City County Library District has established a flexible spending plan for its employees. This plan shall be available to all employees who hold positions budgeted at 17.5 hours or greater per week. Eligibility shall commence upon the first day of the month following or coinciding with the date of employment. The District shall pay administrative fees connected with such plan but shall not provide or pay for benefits placed under the flexible spending account unless such benefits are agreed to under separate policies. The District may set up a separate account or accounts to disperse the money and may place funds in the account to insure coverage of eligible claims. The District shall administer a fund to reimburse employee charges for District supplied insurance, a fund for miscellaneous medical charges and deductions not covered under insurance if allowed under Section 125 and related sections of the Internal Revenue Code, and a fund for dependent care allowed under Section 129 and related sections of the Internal Revenue Code. Employees may not under the provisions of Section 125 and 129 transfer monies between funds. An employee shall not be allowed to place more than $3,600 into a medical contribution account. Disbursements of remaining balances, less beginning contributions, and operational expenses, but crediting interest earned in the account, with the exception of interest charged against initial balances placed by the District to pay claims, shall be distributed equally to all participants per fund. However no amounts less than $5.00 per employee shall be dispersed. The plan year shall run from January 1 to December 31 of each year and will include a grace period of 2.5 months immediately following the plan year as described in the amended Plan Document. Carryover funds shall not be allowed. The Flexible Benefit Plan Document adopted by the Board of Trustees on December 10, 1990 or succeeding documents as adopted by the Board of Trustees shall be an addendum to this policy.
(Revised 1/9/06) |
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