5.3. ERMUSR 02-09-2010 - Laserfiche WebLink

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Deleted: other person may do so and receive reimbursement for dependent care expenses (j) Student shall have the meaning provided in Section 21(e)(7) of the Code which means under theocpian. an individual who during each of five (6) calendar months during the taxable year is a full Deleted: 1I time student at an educational organization which normally maintains a regular facility a is assumed mat all participants in the Dc and curriculum and normally has a regularly enrolled body of students in attendance at Plan will be entitled to treat the child as a the place where its educational activities are regularly carried on as provided in Sections Qualiryinq Individual For purposes or 21(e)(8) and 170(b)(1)(A)(ii) of the Code. reimbursement under the DC Plan.¶ 12.4 Account. The DC Account will be credited as of each date Compensation is Deleted: DC paid to the Participant with apro-rated portion of the Participant's Election for the Plan Year. A Participant's DC Account will be decreased from time to time in the amount of payments made to the Participant for eligible Dependent Care Expenses incurred during the Plan Year. Deleted: <#>Claims for Reimbursement. 12.6 Incurred Expenses. To be reimbursable, an eligible Dependent Care Expense must have been A Participant who has made an Election for a Plan near may apply to me Qaims Administrator incurred after participation in this portion of the Plan began and during the Plan Year for which for reimbursement of eligible Dependent Care reimbursement is claimed. An expense is "incurred" when the Participant is provided with the Expenses incurred during such Plan rear by care which gives rise to the eligible Dependent Care Expense, not when the service is billed or submitting a claim form provided by the Claims Administrator setting form at least the paid. Reimbursement shall not be made for future or projected expenses. foilowinq:Q <#>the amount, date and nature of the Reimbursement of Expense. The Participant shall be reimbursed expense,¶ from the Partici ant's DC Account for eli Ible De endent Care Ex enses incurred Burin the p g p p g <#>the name of the person or entity co wnicn the expense was paid,¶ applicable Plan Year for which the Participant submits the documentation required under <#>the Partidpant's statement that me In no case shall a payment be made which exceeds the balance in the Participant's DC expense has not been reimbursed or is no[ Account at the time reimbursement i5 reimbursable from any other source, and¶ <#>such other information as the Claims Administrator may require.¶ If a claim for reimbursement exceeds the balance in the Participant's DC Account, the Such claim form shall be accompanied by bills, excess part of the claim will be carried over paid as the Participant's becomes invoices, receipts, or other statements from an adequate. no circumstances will any balance remaining in a Participant's DC Account independent third party stating the eligible Dependent Care Expense has been incurred and at the end of the Plan Year be carried over to the next Plan the amount of the expense. Tne claims Admirnstrator may, to the extent provided by law, rely on information provided by 12.8 Maximum Reimbursement. The maximum reimbursement a Participant may receive in Participants.¶ a tax year under this portion of the Plan shall be the lesser of: Deleted: at least either (a) once per month, or (b) when the total reimbursement for (a) the Participant's Earned Income for the tax year; Dependent Care Expenses first equals or exceeds $50.00. Reimbursements shall be made (b) the actual or deemed Earned Income of the Participant's Spouse for the tax year; or Deleted: Section 12.5. (c) $5,000 or in the case of a Participant who is married and filing a separate income tax Deleted: requested. return from his or her Spouse, Deleted: into fallowing pay periods, to be Deleted: balance This maximum includes the Employer Contribution if DC Account forfeitures and the Deleted: However, under Participant's salary reduction. If a Participant is married and the of the Participant also participates in a dependent care program under Section 129 of the Code, the combined Deleted: Year. reimbursements may not exceed the limits described above for the tax year. It shall be the Deleted: that Participant's responsibility to monitor the combined reimbursements. Deleted: , Deleted: $2,500. Deleted: Deleted: any), Deleted: spouse © 2009 Hi[esman & Associates, P.A. 31 Elk River Municipal Utilities Flexible Benefts Plan (No. 8.0.0.0)