Pre-tax Automatic Payment Plan   Email     Print   PDF

Policy Information

• Issue Date: November 13, 1998
• Primary Contact: Director of Human Resources
• Responsible Member of Directorate: President and Director
• Responsible Office: Human Resources

Contents

Overview

II.  There are strict IRS restrictions regarding when an employee can request a change in the agreement to salary reduction amount.

A. An election to receive Automatic Premium Payments may be ammended or revoked on January 1st of each year or as of a change of status.

B. Status changes include:

1.the marriage or divorce of the employee,

2.birth or adoption of a child,

3.disability or death of the employee's child or spouse, or

4.loss or gain of employment by the employee's spouse,

5.significant change in health care benefits or premiums available to either the employee or employee's spouse.

C. Request for change must be made within 31 days of the qualifying change of status.