SECTION 260:40-19-2. Costs in excess of flexible benefits allowance

Latest version.

If a participant elects benefits whose cost exceeds the participant's flexible benefits allowance, the excess cost shall be paid for with pay conversion dollars. At the participant's option, pay conversion dollars may be designated as pre-tax (premium conversion) dollars or after-tax dollars. The elected amount shall be deducted from the participant's compensation in equal amounts each pay period over the plan year [74 O.S.Supp.2007, §1370(F)].

[Source: Added at 31 Ok Reg 1358, eff 9-12-14]

                    
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