12-8-1998 Minutes - Laserfiche WebLink

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q ~r ()LJ~l( (t) Significant Change in Health Coverage Attributable to Spouse's Employment. A Participant may revoke a prior election and make a new election where there has been a significant change in the health coverage of the Participant or the Participant's Spouse attributable to the Spouse's employment. Such change is allowed only if the change is consistent (i.e., necessary or appropriate as a result of the significant change in health coverage attributable to the Spouse's employment). The Plan Administrator (in its sole discretion) shall determine whether a requested change is consistent with and attributable to a significant change in health coverage attributable to a Participant's Spouse's employment. An Employee who is eligible to become a Participant but declined to become a Participant during the initial election period pursuant to Section 3.02(a) or (b) or 3.03 may become a Participant and file a Pre-tax election within thirty (30) days of the occurrence of an event described in Section 3.04 (a),(b),(c), and (t) above, but only if the election under the new Salary Redirection Agreement is made on account of and is consistent with the event (as described above). A Participant otherwise entitled to make a new election under this Section must do so within 30 days of the event (e.g., Change in Status, significant change in coverage, Medicare or Medicaid eligibility, special enrollment right or judgment, decree, or order). Subject to the provisions of the underlying group health plan, elections made to add medical coverage for a newborn or newly adopted Dependent child pursuant to a HIPAA special enrollment right may be retroactive for up to 30 days. All other new election shall be effective no sooner than the first day of the payroll period coincident with or immediately following the date the Participant files his new Salary Redirection Agreement with the Plan Administrator. Elections made pursuant to this Section shall be effective for the balance of the Plan Year in which the election is made unless a subsequent event (described above) allows a further election change. 3.05 Impact of Termination of Employment on Election. Termination of employment shall automatically revoke any Salary Redirection Agreement. Except as provided below, if revocation occurs under this Section 3.05, no new election with respect to Pre-tax Contributions may be made by such Participant during the remainder of the Plan Year. Except as otherwise provided in the applicable Benefit Plans or Policies, former Participants who are rehired within 30 days or less of the date oftennination of employment will be reinstated with the same election(s) such individual had before termination. If a fonner Participant is rehired more than 30 days following tennination of employment and is otherwise eligible to participate in the Plan, the individual may make a new election. IN WITNESS WHEREOF, the Employer has adopted this Amendment on the date shown below, but effective as of the dates indicated above. Executed this 1 day of /0/i!rJU itc.. /9 q f /-7@4!0 Employer An;; JZZ& {J {j~:/,