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CITY OF RAMSEY <br /> <br />EMPLOYEE FLEXIBLE BENEFIT ACCOUNT PLAN <br /> <br /> This Employee Flexible Benefit Account Plan was originally executed the 17th day of <br />December, 1991, effective January 1, 1992. <br /> <br /> PLAN ONE <br />HEALTH CARE REIMBURSEMENT ACCOUNT <br />AND GROUP LIFE INSURANCE BENEFIT <br /> <br />The purpose of this Plan is to increase the protection of eligible employees by providing such <br />employees the choice, within an amount of money to be provided as specified herein, among <br />different combinations of health care benefit coverage, life and disability insurance and direct <br />compensation. The Plan is intended to comply with the provisions of Sections 105 and 125 of the <br />Internal Revenue Code of 1954, as amended. <br /> <br />ARTICLE I <br />Dcfiniti0n~ <br /> <br /> Section 1.1. Definitions. Whenever used in the Plan, the following words and <br /> <br />phrases shall have the meanings set forth below unless the context plainly requires a different <br />meaning, and when the defined meaning is intended, the term is capitalized: <br /> <br />(a) "Code" means the Internal Revenue Code of 1986, as amended. <br /> <br /> (b) "Compensation" of a participant means the amount paid by the City to such <br />participant that is listed in Treasury Regulation Section 1.415-2(d)(1)(i) and shall exclude all <br />amounts which are listed in Treasury Regulation Section 1.4152(d)(2). <br /> <br /> (c) "Dependent" means an individual who qualifies as a dependent under the terms of <br />Section 152 of the Code. <br /> <br /> (d) "Effective Date" means the date on which the Plan became effective, i.e., January <br />1, 1992. The Plan originally became effective on January 1, 1992. <br /> <br /> (e) "Employee" means any person regularly employed by the City on a continuing <br />basis and whom the City reasonably expects to work more than 1,000 hours in a Plan year. <br /> <br /> 1 <br />12/11/91 <br /> <br /> <br />