SECTION 260:40-23-4. Amount of insurance premium expense benefit available

Latest version.

Subject to the limitations in the Internal Revenue Code to avoid discrimination, the amount of insurance premium expenses under the insurance premium conversion option shall be that amount required to pay the participant's portion of the premiums for coverage under each qualified insurance plan included in this plan option. For purposes of the Internal Revenue Code and regulations promulgated thereunder, the amount required to pay the participant's portion of the premiums for coverage shall be the maximum amount of benefit available.

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

                    
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