(a) In this section, "employee compensation and benefits" includes base salaries, wages, incentive compensation, and benefits. The term does not include:
(1) pension or other postemployment benefits; or
(2) incentive compensation for an officer of an electric utility related to attaining:
(A) financial metrics; or
(B) metrics adverse to customers' interests as determined by the commission.
(b) When establishing an electric utility's rates, the regulatory authority shall presume that employee compensation and benefits expenses are reasonable and necessary if the expenses are consistent with market compensation studies issued not earlier than three years before the initiation of the proceeding to establish the rates.