SECTION 260:40-26-1. Qualified Transportation account option

Latest version.

(a) This option allows an employee to receive reimbursements for qualified mass transportation expenses which are excludable from gross income. This option is intended to be qualified under Section 132 of the Internal Revenue Code and is an optional benefit within the State Employee Flexible Benefits Plan. As a result, it is excluded as part of the cafeteria plan described in OAC 260:40-7-1.
(b) The Plan Administrator shall at all times administer this option in a manner consistent with the terms and provisions hereof, in a uniform and nondiscriminatory manner, and in accordance with the Internal Revenue Code and applicable regulations promulgated thereunder.

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

                    
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