Technicians
How Does the
Toolchex Program Work?
TOOLCHEX provides what is called
an "Accountable Plan." This
accountable plan has been reviewed and adopted by your company and is
being
offered to you as an employee benefit.
You may already be enrolled in a
401k Retirement Plan or a 125 Cafeteria
Health Insurance Plan offered by your employer. These allow pre-tax
treatment
of employee benefits.
Pre-tax benefit plans allow money
to be deducted from your paycheck without
payroll taxes being withheld.
The Toolchex accountable
plan also allows you to have money deducted from
your gross pay without taxes being withheld, then returned to you
through
Toolchex for more money in your pocket each payday. For this valued
service,
Toolchex withholds a nominal fee from the Toolchex benefits check.
