Flexible Compensation Sample Clauses
The Flexible Compensation clause allows for adjustments to an employee's pay or benefits based on changing circumstances or performance metrics. In practice, this clause may enable employers to increase bonuses, modify commission structures, or alter benefit packages in response to company results or individual achievements. Its core function is to provide adaptability in compensation arrangements, ensuring that remuneration remains aligned with business needs and employee contributions.
Flexible Compensation. Should flexible compensation be instituted for any group of City employees, either party may reopen negotiations to consider allowing a similar opportunity for members of the RAPG units.
Flexible Compensation. The Board and the Union agree to establish a flexible compensation plan as provided by Section 125 of the Internal Revenue Code of 1954, as amended, to allow for payment of all tax deductible items (medical insurance, non-reimbursable medical expenses, and child care payments).
Flexible Compensation. Effective the first full pay period following City Council Adoption, and in lieu of an increase to the City contribution towards medical premiums, each represented classification will have their monthly income increased by $100.
Flexible Compensation. (IRS Code Section 125 & 403b Plans)
Flexible Compensation. Effective the first full pay period following January 1, 2024, and in lieu of an increase to the City contribution towards medical premiums, each represented classification will have their monthly income increased by an additional $100 (Total of $200).