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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 260. Office of Management and Enterprise Services |
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Chapter 40. Employee Benefits Department |
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Subchapter 25. Dependent Care Reimbursement Account Option |
SECTION 260:40-25-4. Amount of benefit available
Latest version.
- (a) Subject to any limitations imposed by federal law, the maximum amount which a participant may receive in a Plan Year in the form of dependent care expenses under the dependent care reimbursement account option shall be the least of the following:(1) The participant's earned income for the Plan Year (after all reductions in compensation including the reduction related to dependent care expenses);(2) The earned income of the participant's spouse for the Plan Year; or(3) $5,000 ($2,500 in the case of a married individual who files a separate income tax return,) but not to exceed the monthly maximum contribution of $416.67 as defined and allowed by the Plan Administrator.(b) The minimum salary adjustment amount for participation in the dependent care reimbursement account option shall be $50 per month.