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<br />M <br /> <br />.\ I <br /> <br />;;-.' i if; <br /> <br />City Council <br />Agenda Summary <br /> <br />Martinsville <br /> <br />Meeting Date: <br />Item No: <br />Department: <br /> <br />November 25, 2008 <br />4. <br /> <br />Human Resources <br /> <br />Issue: <br /> <br />Consider request to modifY Flexible Spending Account <br />Summary' Plan Description (SPD) <br /> <br />Summary: Pursuant to Internal Revenue Code Section 125, City <br />employees may set aside a portion of their salary to pay for qualified expenses. <br />Money deducted from the employee's pay is not subject to Federal and State taxes <br />and Social Security. Employees are reimbursed for eligible out-of-pocket expenses. <br />The City does not contribute to this account. <br /> <br />Request is to increase the maximum annual contribution allowed for Medical Care <br />Spending Account from $3600 to $5004 each year. <br /> <br />Attachment: <br /> <br />Flexible Spending Accounts Summary Plan Description (SPD) <br /> <br />Recommendation: Approve request to increase the maximum annual <br />contribution allowed for Medical Care Spending Account from $3600 to $5004 <br />each year. <br />