by Tara Kuther, Ph.D. A master's degree is a type of graduate degree, degree earned after completion of an undergraduate degree (BA or BS). Typically the master's degree requires about 30 credits of coursework and takes 2 years of full time study beyond the bachelor's degree. In addition to coursework, the master's degree sometimes entails completing comprehensive exams and/or a thesis.
flexible benefit plan. Definition. A benefits plan that allows employees to select from a pool of choices, some or all of which may be tax-advantaged. Potential choices include cash, retirement plan contributions, vacation days, and insurance. also called cafeteria plan. Use this term in a sentence.
An employee who has had a change in family status may modify his/her insurance coverage status and flexible compensation election. This modification must be made within 30 days of the change in family status, and is effective as of the date of change. Addition or deletion of health insurance coverage may be executed by completion of the appropriate form. The employee may need to execute a new flexible compensation election form. The new election must be on account of, and consistent with, the change in family status.