5.3. ERMUSR 02-09-2010 - Laserfiche WebLink

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12.9 Reimbursement Upon Termination of Participation. If an individual ceases to be a Participant in this portion of the Plan during a Plan Year, no further will be credited Deleted: allocations to the DC Account. However, incurred may be reimbursed Deleted: reimbursements shall continue for within in Section eligible Dependent Care Expenses 12.10 Participant's Death. In the event a Participant dies having incurred an eligible Dependent Deleted: before participation stopped Care Expense which would have been reimbursable out of the Participant's DC Account had Deleted: ninety (90) days following termination the Participant not died and a person or the Participant's estate has paid for or of participation. The remainder of the participant's DC Account shall be forfeited assumed liability reimbursement may be made to that person or the estate for that payment or assumption. The remainder of the Participant's DC Account shall be forfeited in accordance with Deleted: accordance with SectlOn 5.6. Deleted: 5.6. Deleted: for the expense, 12.11 Nondiscrimination. Not more than twenty-five percent (25%) of the amounts paid or incurred by the Employer for Dependent during the Plan Year shall be provided to Deleted: care assistance Participants who are shareholders or owners (or their Spouses or Dependents) of more than five percent (5%) of the stock or of the capital or profit interest in the Employer. This portion of the Plan shall not discriminate in favor of Highly Compensated Employees or their Dependents with respect to eligibility, contributions or benefits. The average eligible Dependent Care Expenses paid to Non-Highly Compensated Employees shall be at least fifty-five (55%) of the average eligible Dependent Care Expenses paid to Highly Compensated Employees. If benefits are provided through salary reduction agreements, Employees with annual compensation less than $25,000 may be excluded. If the Plan Administrator determines that the Plan is or will be discriminatory, the Plan Administrator may take any action permitted by law to avoid such result If this portion of the Plan Deleted: . to the extent required by law. 12.12 DC Account Forfeiture. Amounts attributed to a Participant's DC Account for any Plan Year shall be used only to reimburse the Participant for eligible Dependent Care Expenses incurred during such Plan Year. Any balance remaining in a Participant's DC Account for a Plan Year shall be forfeited following the and shall be forfeited in accordance with Section 5.6. Such forfeited amount shall not be distributed in cash, carried over to the next Plan Year or used by the Participant for any other purpose. tdxdble Deleted: the Plan fails any of these requirements, benefts provided under Deleted: will become 12.13 Dependent Care Limitations. Reimbursement or payment of eligible Dependent Care Expenses shall be made the only in the event and to the extent that such reimbursement or payment is: (a) not provided under any insurance policy, whether the premium on such policy is paid by the Employer or an individual, and (b) not provided for or reimbursable under any other or policy. 12.14 Reporting and Disclosure. Each Participant must be furnished with a written statement showing the amounts paid under this portion of the Plan by an Employer on behalf of the Participant for a calendar year. The statement must be furnished before January 31st of the following year. Deleted: on the f rst day Deleted: last day of March immediately following the end of such Plan Year (the "claims run-out period's Deleted: by Deleted: Employer Deleted: for Deleted: Plan Deleted: For calendar years beginning after December 31, 1988, the law requires that this information be placed on Internal Revenue Service Form W-2 for the applicable year. Deleted: ¶ © 2009 Hitesman & Associates, P.A. 32 Elk River Municipal Utilities Flexible Benefitr Plan (No. 8.0.0.0)