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(123rd General Assembly)(Amended Substitute House Bill Number 379)
To enact section 505.603 of the Revised Code to provide townships with the
ability to offer cash payments, in lieu of otherwise offered health benefits
or life insurance benefits, to their officers and employees through a
"cafeteria plan" that meets Internal Revenue Code requirements.
Be it enacted by the General Assembly of the State of Ohio:
SECTION 1 . That section 505.603 of the Revised Code be enacted to read as
Sec. 505.603. In addition to or in lieu of providing benefits to
township officers and employees under section 505.60, 505.601, or 505.602
of the Revised Code, a board of township trustees may offer
benefits to officers and employees through a cafeteria plan that meets the
requirements of section 125 of the "Internal Revenue
of 1986," 100 Stat. 2085, 26 U.S.C.A. 125,
as amended, after first
adopting a policy authorizing an officer or employee to receive a cash payment
in lieu of a benefit otherwise offered to township officers or employees
under any of those sections, but only if the cash payment does not exceed
twenty-five per cent of the cost of
premiums or payments that otherwise would be paid by the board for
benefits for the officer or employee under an offered policy, contract, or
plan. No cash payment in lieu of a benefit shall be made pursuant
to this section unless the officer or employee signs a statement
affirming that the officer or employee is covered under another
health insurance or health care policy, contract, or plan in the
case of a health benefit, or a life insurance policy in the case
of a life insurance benefit, and setting forth the name of the
employer, if any, that sponsors the coverage, the name of the
carrier that provides the coverage, and an identifying number of the
applicable policy, contract, or plan.