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City of Casselberry <br /> <br />Finance Department Director <br /> <br />95 Triplet Lake Drive, Casselberry, Florida 32707 · Telephone (407) 26°-7700, Ext. 1147 <br /> Fax (407) 26e-7746 · Email jdreierr~casselberrv.or~ <br /> <br />Inter-Office Memorandum <br /> <br />Date: March 5, 2004 <br /> <br />To: <br /> <br />Frank W. Clifton Jr., City Manager <br /> <br />From Jeffrey S. Dreier, Director of Finance <br /> <br />Re: <br /> <br />Internal Revenue Code Section 125- Pre Tax <br />Medical Deductions <br /> <br /> On May 1, 199o the City adopted Internal Revenue Code Section 125 providing <br />for pre-tax medical deductions. This comes under the section called Cafeteria Plan by <br />the Internal Revenue Service. This means that an employee can elect to have most of <br />the medical benefit deductions taken from their paycheck on a pre-tax basis. <br /> <br /> Through the years the IRS code has changed. Aon Consulting, the City's benefit <br />consulting firm, has updated the Premium Only Plan. The City Attorney has reviewed <br />the document. Once Resolution No. o4-1484 is approved by the City Commission, a <br />copy of the summary plan description will be given to all employees. <br /> <br />Please place this on the agenda for the March 22, 2004 Commission meeting. <br /> <br />JSD/sm <br /> <br />CC: <br /> <br />Thelma L. McPherson, City Clerk <br />Cristina Vivo', Director of Personnel <br />Carol Thio, Payroll Specialist <br /> <br />P:\working\Word Documents~J effreyMemo\04_016.doc <br /> www.casselberry, org ,~. <br /> <br /> <br />