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An employee who elected to reduce their salary at the beginning of the Plan Year or when the <br />employee is eligible for the Plan, cannot change their deduction unless there is a change in dependent or <br />employment status or at the beginning of the next year. <br /> <br /> The employee's compensation for any purposes besides Federal and State taxes, Social Security <br />and Workers' Compensation will include the salary reduction authorized in the plan as part of gross <br />pay. <br /> <br /> City of Martinsville and Martinsville City Schools will continue to make its contribution to the <br />Group Insurance Benefit Plans on a non-taxable basis. <br /> <br />TERMINATION OF EMPLOYMENT: <br /> <br /> Upon the participant's termination of employment for any reason whatsoever or upon the <br />participant's failure to meet the definition of full-time employment, all amounts deducted from the <br />Flexible Benefits Program will be forfeited. <br /> <br /> City of Martinsville and Martinsville City Schools establishes this plan pursuant to Code <br />Section 125 of the Internal Revenue Code. City of Martinsville and Martinsville City Schools reserves <br />the right to amend or terminate this plan for any reason whatsoever. City of Martinsville and <br />Martinsville City Schools denies any liability for present and future taxes that may apply. <br /> <br />13 <br /> <br /> <br />