(a) Subject to any limitations imposed by federal law, the maximum amount which a participant may receive in a Plan Year in the form of dependent care expenses under the dependent care reimbursement account option shall be the least of the following:
- (1) The participant's earned income for the Plan Year (after all reductions in compensation including the reduction related to dependent care expenses);
- (2) The earned income of the participant's spouse for the Plan Year; or
- (3) $5,000 ($2,500 in the case of a married individual who files a separate income tax return,) but not to exceed the monthly maximum contribution of $416.67 as defined and allowed by the Plan Administrator.
- (b) The minimum salary adjustment amount for participation in the dependent care reimbursement account option shall be $50 per month.
Added at 31 Ok Reg 1358, eff 9-12-14