The Wretched Refuse of Your Teeming Shores. Take a close look at those refugees who are fleeing the war-torn Middle East and trying desperately to save their lives by escaping to Europe. Look at their faces. Examine their clothing.
Definition of grace period. : a period of time beyond a due date during which a financial obligation may be met without penalty or cancellation.
The grace period must remain in effect for the entire period even though the participant terminates employment prior to the end of the grace period. Employers may limit the application of the grace period to only certain benefits (e.g., a plan offering a health FSA and a dependent care FSA could limit the grace period to the health FSA). The maximum grace period is until the 15th day of the third calendar month after the end of the plan year, but a shorter period may be adopted as a grace period. A copy of Notice 2005-86 is attached. REPORTS. Notice 2005-86