Flexible Spending Account
City of Plattsburgh Flexible Spending
|Plan Name:||City of Plattsburgh Flexible Spending|
|Description:||A Flexible Spending Account is an employee benefit plan established under IRC Section 125 that allows you to pay for everyday health care and/or dependent care expenses with pre-tax dollars.|
|Start Date - End Date:||01/01/2014 - 01/01/2015|
|COP Flexible Spending Example||FSA Plan||No FSA Plan|
|Annual Income (before taxes)||$24,000||$24,000|
|Pre-Tax Health Care Contribution||-$1,500||$0|
|Pre-Tax Dependent Care Contribution||-$4,000||$0|
|Estimated Taxes (25% Federal)||-$4,625||-$6,000|
|Health Care Expenses||$0||-$1,500|
|Dependent Care Expenses||$0||-$,4000|
Full-time employees who have met their new hire eligibility.
|Title/Department:||Client Account Manager|
Disclaimer: Every effort has been made to ensure that the information in this summary is accurate; however no warranty of complete accuracy is made. If a discrepancy is found between this summary and the benefits you selected or the Summary Plan Description (SPD), your selections and the provisions of the SPD will govern.