cafeteria plan (redirected fromCafeteria Benefit Plan) Medical Financial cafeter′ia plan` n. a fringe-benefit plan under which employees may choose from among various benefits those that best fit their needs up to a specified dollar value. ...
The employer saves money because its payroll tax payments are based upon the total of its employees' taxable earnings. Thus, because the employees' taxable wage base is reduced by the amount of benefit dollars spent under a Cafeteria Plan, the employer pays less taxes too! Employee Savings Exa...
In creating a cafeteria plan, the employer must determine which benefit costs will be paid by the company and which will be paid on a "co-pay" basis, or entirely by the employee. The plan could also include an extended list of voluntary benefits, for employees to choose from and pay for...
This means that whether you’ve used up your total deductible in the past year or not, at the start of next year, the amount will restart to what is stated in the plan. To better comprehend what a deductible is and how it works, let’s take a look at an example. ...
There's no provision for the single parent or the spouse of another worker. In like manner, the typical benefit program includes a "use it or lose it" sick leave policy, vacation time that ca...
Cafeteria plan refers to a type of employee benefit plan in which an employer offers employees a set of different taxable and non-taxable benefits. The employee is able to choose which benefits would fit their individual needs. The name comes from the earliest types of these plans that allowed...
PremiumTaxEmploymentEmployee benefit 415 Words 2 Pages Good Essays Read More Cafeteria Nation CafeteriaNation In One Nation‚ Slightly Divisible‚ David Brooks breaks down the country into two groups. Blue America‚ or the city‚ and Red America‚ the rural area. Brooks discusses the vast ...
The meaning of CAFETERIA is a restaurant in which the customers serve themselves or are served at a counter and take the food to tables to eat. How to use cafeteria in a sentence.
A Section 125 or cafeteria plan is an employer-sponsored benefit plan that gives employees access to certain taxable and nontaxable pretax benefits. The plan can be made available to employees, their spouses, and their dependents. Former employees are also allowed access, but the plan can't ex...
A cafeteria plan is an employee benefit plan that allows staff to choose from a variety of pre-tax benefits. You can contribute a portion of your gross income before any taxes are calculated and deducted. Plans normally include options such as insurance benefits and benefits that help with vari...