09-14-1992 Council Packet - Laserfiche WebLink

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ARTICLE II DEFINITIONS Sec. 2.1 Election. During each applicable Election Period, a Participant may file an Election designating the insurance premiums to be paid and the Medical Care Expense Account allocation desired by an eligible Participant, subject to the following: (a)The Election shall be in writing and shall specifically indicate the insurance premiums to be paid and the amounts to be allocated to the Medical Care Expense Account of an eligible Participant. An Election meeting the requirements of the Plan and not inconsistent with its terms shall become irrevocable on the last day of the Election Period in which it is filed with the Employer. (b)An Election filed in an Election Period prior to the beginning of a Plan Year shall be effective for each paycheck issued to the Par ticipant in the Plan Year (unless a new Election is made in an Election Period resulting from a change in the Participant's family status, as described in Sec. 2.2(a)). (c)An Election filed in an Election Period during a Plan Year pursuant to Sec. 2.2(a) shall be effective as soon as administratively fea sible following the date the Election is filed, but not sooner than the first day of the payroll period coinciding with or following the date the Election is filed. An Election filed in an Election Period during a Plan Year pursuant to Sec. 2.2(b) shall be effec tive on the first day of the month following the date on which the individual becomes a Qualified Employee, or on the first day of the payroll period coinciding with or following the date the Election is filed, in the case of an Election filed on or after said first day of the month. (d)If no Election is filed during an Election Period, the Participant will be deemed to have filed the same Election as was in effect for the Participant before the Election Period. If there was no prior Election in effect for the Participant, it shall be deemed that the Participant elected not to participate in the Plan. Sec. 2.2 Election Period. The "Election Period" for a Plan Tear is the period designated by the Employer that ends prior to the first day of such Plan Year. The following are also Election Periods: (a)If any of the following events occur with respect to a Participant, then the 31-day period immediately following the date the event occurs shall also be an Election Period for said Participant with respect to the remainder of said Plan Year: -2- III