Haw. Code R. § 14-51-34 - Forfeiture of unused compensation reduction amounts

Current through February, 2022

Amounts of compensation reduction will be used only for eligible expenses actually incurred during the period of coverage for which such designation applies. Any amount of compensation reduction designated by the employee which has not been paid on behalf of the employee for eligible expenses at the close of the plan year will be forfeited by the employee and revert in whole to the employer. Employee organizations and their employee organization plan representatives shall be responsible for providing a monthly accounting of any amounts received by the employee organization on behalf of an employee which were not paid for eligible expenses during the applicable plan year. Employee organizations shall return all unpaid amounts to the Plan administrator within 120 calendar days.

Notes

Haw. Code R. § 14-51-34
[Eff. DEC 15 1989] (Auth: SLH 1989, Act 63) (Imp: SLH 1989, Act 63)

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