10-10-2022 Council Packet - Laserfiche WebLink

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© 2019 Hitesman & Wold, P.A. MEDSURETY, LLC Cafeteria Plan 1-888-816-4234, www.medsurety.com Basic Plan Document 37 modifications, or adjustments to the allocation of the account. In accordance with this part (1), a claim incurred during the preceding Plan Year and submitted during the Claims Run-out Period will be processed subsequent to a previously submitted claim incurred during the Grace Period, even if the account from the preceding Plan Year is exhausted by reimbursement of the claim incurred during the Grace Period. (3) Elections. No adjustment to a Participant’s election for the current Plan Year shall be made or allowed based upon the amount of claims reimbursed from the prior Plan Year’s account in accordance with part (1) hereof. (b) Claims Run-Out Period. Except as otherwise provided in this Section 10.12, (i) amounts attributed to a Participant’s DC Account f or any Plan Year shall be used only to reimburse the Participant for eligible Dependent Care Expe nses incurred during such Plan Year, and (ii) any balance remaining in a Participant’s DC Account for a Plan Year shall be forfeited following the end of the Claim Run-Out Period and shall be forfeited in accordance with Section 5.7. The Plan Administrato r may extend this period in the event the Participant cannot obtain proper documentation until after the expiration of the period. 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. 10.13 Dependent Care Limitations. (a) Reimbursement or payment of eligible Dependent Care Expenses shall be made to the Participant only in the event and to the extent that such reimbursement or payment is: (1) not otherwise provided for under any insurance policy, whether the premium on such policy is paid by the Employer or an individual, and (2) not provided for or reimbursable under any other plan or policy. (b) Other limitations, if any, shall be set forth in the Adoption Agreement. 10.14 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. If the actual amount paid is not known by this deadline, the Employer may report a reasonable estimate of the amounts paid under this portion of the Plan.