SECTION 260:40-26-7. Qualified Transportation account option

  Each Plan Year, the Plan Administrator shall establish a Qualified Transportation account for each employee who elects to participate in a Qualified Transportation account. During the Plan Year, the applicable payroll office shall on a monthly basis deduct from the employee's payroll the amount designated by the employee and credit the employee's Qualified Transportation account. An employee's Qualified Transportation account for a Plan Year shall be reduced by the amount of any qualified Mass Transit expenses paid to the employee.

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