Laserfiche WebLink
<br />(b) With regard to Benefits available under the Plan for which <br />Premium Expenses apply, such Participant shall be deemed to have made <br />the same Benefit elections as are then in effect for the current Plan Year. The <br />Participant shall also be deemed to have elected Salary Redirection in an <br />amount necessary to purchase such Benefit options. <br /> <br />5.4 CHANGE OF ELECTIONS <br /> <br />(a) For all Benefits other than accident or health and group-term <br />life benefits, any Participant may change a Benefit election after the Plan <br />Year (to which such election relates) has commenced and make new <br />elections with respect to the remainder of such Plan Year if the changes are <br />necessitated by and are consistent with a change in family status which is <br />acceptable under rules and regulations promulgated by the Department of the <br />Treasury. Benefit election changes are consistent with family status changes <br />only if the election changes are necessary or appropriate as a result of the <br />family status change. Any new election under this Section 5.4 shall be <br />effective at such time as the Administrator shall prescribe, but not earlier than <br />the first pay period beginning after the election form is completed and <br />returned to the Administrator. For the purposes of this paragraph, the <br />following events shall be considered examples of a change in family status: <br /> <br />(1) the marriage or divorce of the Participant; <br /> <br />(2) the birth or adoption of a child by the Participant; <br /> <br />(3) the death of the Participant's spouse or a Dependent; <br /> <br />(4) the termination or commencement of employment of the <br />Participant's spouse; . <br /> <br />(5) the switching from part-time to full-time employment status (or <br />from full-time to part-time status) by the Participant or the Participant's <br />spouse; or <br /> <br />(6) the taking of an unpaid leave of absence by the Participant or <br />the Participant's spouse. <br /> <br />(b) Generally, the termination of employment by a Participant shall <br />not be considered a change in family status. Therefore, upon termination, <br />such Participant shall not be entitled to change existing Benefit elections. <br />Rather, such termination shall constitute a revocation of all existing benefit <br />elections. <br /> <br />(c) For accident or health and group-term life benefits, any <br />Participant may change a Benefit election after the Plan Year (to which such <br />election relates) has commenced and make new elections with respect to the <br />remainder of such Plan Year if, under the facts and circumstances, the <br />changes are necessitated by and are consistent with a change in status <br /> <br />11 <br />