Cafeteria Pay Clause Samples

Cafeteria Pay. The City will provide 3.0% of total annual Mid Management and Confidential Compensation for implementation of a Cafeteria Type plan in addition to all other salary and employee benefits granted in the budget. This Plan covers all branches of Mid Management and Confidential Personnel. Each January exempt employees shall make their compensation selections for that calendar year. Non-exempt Mid management and confidential employees shall receive an equivalent benefit equal to 3% of base annual salary. This amount may be reduced by paid overtime or compensatory time earned or taken throughout the calendar year. Final payments due will be made by pay period #26 of each calendar year. Under no circumstances shall accrued compensatory time be carried over to a new calendar year. (For further information, see City's Management Cafeteria Plan Statement.) If a change in base compensation occurs during the calendar year, the employee’s cafeteria benefit shall also be adjusted at that time. This policy shall apply both to an increase and a decrease in base compensation. Should such an adjustment occur, the employee shall have the option at the time of the increase or decrease to revise their apportionment of the cafeteria plan selection(s).