Academic Affairs Manual (ACD)

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Effective: 7/1/1996

Revised: 10/1/1998

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ACD 610: Flexible Spending Accounts

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Purpose

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To provide eligible staff the opportunity to participate in a dependent care and/or medical care tax-savings program through payroll reduction

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Sources

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Internal Revenue Code § 125
Arizona Board of Regents Policy Manual - 6–604

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Applicability

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Faculty and academic professionals who are employed to work 20 hours per week (50 percent FTE) or more for a continuous period of six or more months

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Policy

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Eligible faculty or academic professionals who meet the requirements can participate in the Dependent Care and/or the Medical Expense section of the Flexible Spending Account program through payroll reduction, by enrolling during the annual open enrollment period.

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Procedure

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The faculty or academic professional contacts Human Resources and completes a payroll reduction form. Human Resources checks for eligibility, and, if the staff member is eligible, processes the form.


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