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Noncreditable Compensation. Fringe Benefit   

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(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


Education Code 22119.2

(Added by Register 2014, No. 47.)