2003-01-08 CC Packet - Laserfiche WebLink

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Section 4.8, (b) if there is a Status Change, a Participant shall be entitled to change the Participant's election of benefits on a prospective basis in a manner that is consistent with the Status Change. A Participant's revocation of a benefit election during a Period of Coverage and a new benefit election for the remaining portion of the Period of Coverage ("Election Change") is consistent with the Status Change if and only if: (a) the Status Change affects (i) eligibility for coverage under a plan or program of the Employer (including this Plan) or the employer of the Participant's spouse or Dependent, or (ii) in the case of dependent care reimbursement coverage described in paragraph 5.2.3, eligibility of dependent care expenses for the tax exclusions available under Section 129 of the Code; and (b) the Election Change is on account of and corresponds with such Status Change. For purposes of the preceding sentence, in the case of a Status Change that is described in Section 2.1 (r)(i) or is a change in the employment status of a Participant's spouse or Dependent under Section 2.1(r)(iii) or (iv), an election to increase or decrease theParticirdnt's life insurance coverage or long-term disability coverage is consider;;d to be consistent with such Status Change. For purposes of a Status Change described in Section 2.1 (r)(ii) and attributable to the birth or adoption of a new Dependent, an increase in the Participant's election to reflect the Dependent's enrollment may, subject to the provisions of the underlying group health plan, be effective retroactively (up to 30 days). The Participant must provide written notice of a Status Change to the Employer, on a form prescribed by the Employer, either prior to or after the Status Change, but not later than thirty (30) days after the occurrence of the Status Change; provided, however, that a Participant may not make any change that would reduce the Participant's level of health care reimbursement coverage under paragraph 5.2.2 to an amount that would be less than the amount of benefits claimed under such coverage as of the date the change would become effective. Any such change shall be effective for the first pay period for which the Employer can process the change, but not later than thirty (30) days after the date such Participant's written notice is received by the Employer. Notwithstanding the foregoing, any Participant whose benefit election has been revoked for such Plan Year pursuant to Section 4.7 below shall at no time be entitled to make a new benefit election for such Plan Year, and a Participant who has elected to pay for a benefit 12