What is a flexible benefit plan in IBM?
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With IBM’s Flexible Benefit Plan (FBP), staff members can select benefits that best fit their unique requirements and budgetary circumstances. Below is a summary of the main attributes:
Option and Authority:
Employees can customize their benefits package to meet their priorities and lifestyle by choosing from a range of pre-tax benefit packages.
Sources claim that common FBP components at IBM could consist of:
reimbursement for medical costs
Allowance for house rent (HRA)
Conveyance allowance
Travel allowance for leaves (LTA)
allowance for education
Help with child care