(a) A fringe benefit is any of the following:
(1) A good or service for which the cost is paid to a third party or otherwise covered by the employer.
(2) Compensation allocated to an employee to cover a personal or business expense that could otherwise be provided in the form of a good or service as specified in paragraph (1).
(3) Cash in lieu of, or cash remaining from, a good or service as specified in paragraph (1).
(b) If any part of creditable compensation is restructured into a fringe benefit, that amount will not be considered creditable compensation beginning with the effective date of the restructure.
Authority cited:
Education Code 22119.2
Education Code 22305
Reference:
Education Code 22119.2
(Added by Register 2014, No. 47.)