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From the East Ohio Conference Board of
Pensions
Rev. Craig Redecker, chairman
Mr. Paul Gorman, vice
chairman
Mr. Bill Young, secretary
Subject:
Section 125 – Flexible Benefits
The Conference
Board of Pension and Health Benefits is pleased to offer your local
church an opportunity to sponsor a Section 125 – Flexible Benefits
Plan for clergy and employees of your church. Under Internal Revenue
Code Section 125, Flexible Spending Accounts are allowable, which
include Medical Reimbursement Account; and Dependent Care Account;
(commonly referred to as Flexible Benefits.) The primary advantage
is to be able to use pre-tax income to help with the medical, dental
and vision expenses not reimbursable under group health care
coverage.
It is important
that the local church thoroughly understand this benefit plan and
how the plan will be administered. The local church would be the
sponsor of the Section 125 Plan. We encourage the appropriate
committees to meet and discuss the Plan as soon as possible.
For questions, contact the Benefits Office at 1-800-831-3972 ext 103
(Betsy Stewart) or ext 151 (Robin Whitacre).
To implement the
plan, please open and copy all three files:
Participation in
a Section 125 – Flexible Benefits Plan is an annual election.
To establish this benefit for the Plan Year 2008, the Benefits
Office must receive ALL documentation/enrollments by December 14, 2007.
NO EXCEPTIONS |
