2016-129N - Laserfiche WebLink

Home Browse Search

3.04 Mid-Plan Year Election Changes. An eligible Employee may enroll in Qualified Benefits, change prior elections, or cease participation in Qualified Benefits during a Plan Year only under the following conditions: a. The Employee or a Dependent experiences a Qualifying Event that is listed under Section 125 of the Internal Revenue Code, as amended. Such Qualifying Events include but are not limited to marriage, divorce, legal separation, adding an eligible dependent, losing an eligible dependent, or a change in employment that affects eligibility for coverage including changes pursuant to FMLA. b. The Employee must notify the Human Resources Department of the Employer of the Qualifying Event and any desired changes in elections in writing on an Employer-approved form or electronic enrollment system on or before 30 days after the Qualifying Event. c. Any requested changes in elections (whether a new election, change or ceasing participation) must be on account of the Qualifying Event and consistent with the nature of the Qualifying Event. Except for special enrollment rights required by HIPAA for birth, adoption or placement for adoption for a child, all election changes will be prospective and will take effect on the date determined by the Plan Administrator. 3.05 Effect of Termination of Employment and Loss of Eligibility on Elections Termination of employment or cessation of eligibility will automatically revoke any elections made under this Plan. The effective date of such revocations will be determined by the Plan Administrator and may vary for each Qualified Benefit. Participants may have rights to continue certain Qualified Benefits under COBRA. Rehires that meet all eligibility requirements may make new elections in the Qualified Benefits subject to availability and timing with respect to the Plan Year. ARTICLE IV—BENEFIT FUNDING 4.01 Source of Benefit Funding The cost of Qualified Benefits may be funded through any or all of the following: • Employee pre-tax contributions • Employee post-tax contributions • Conditional Employer contributions The Employee's cost of each Qualified Benefit shall be reduced by conditional Employer contributions, if any. The Employee's contributions, if any, shall be pre-tax if made via payroll deductions and permitted by Section 125. Employee contributions made by some Page 7