Cafeteria Benefit Plans)Also found in: 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. [1985–90] Random House Kernerman Webster's College Dictionary...
cafeteria plan (redirected fromCafeteria Benefit Plans) Dictionary Financial ca·fe·ter·i·a plan (kafe-tē'ri-a plan) Employeebenefitplanthatallowsachoicebetweenalternativenontaxablebenefits. MedicalDictionaryfortheHealthProfessionsandNursing©Farlex2012 ...
Giving key employees a benefits package that is both affordable and appealing can be difficult for many firms. Despite the fact that rising healthcare prices have an impact on benefit costs, a section 125 plan, often known as a cafeteria plan, enables you to increase employee benefits without ...
A cafeteria plan gets its name from a cafeteria but has nothing to do with food. Just as individuals make food selections in a cafeteria, employees can choose the benefits of their choice beforepayroll taxesare calculated from a pool of options offered by their employers. These plans become mo...
The article discusses the legal aspects of the cafeteria plan, a central component of the health and welfare benefit plan under the Section 125 of the U.S. Internal Revenue Code. It mentions that sponsors should know the rules on the plan because minor noncompliance to revenue regulations can...
A Cafeteria Plan is a type of employee benefits plan that allows employees to choose from a variety of pre-tax benefits. Typical options offered in a Cafeteria Plan include health insurance, retirement savings plans, flexible spending accounts, and more. ...
Cafeteria plan includes taxable benefits like cash and stock. The non-taxable benefits include health insurance, vacation days, dental care, vision coverage. The IRS set a number of restrictions to ensure fairness and limit the number of changes an employee can make to the plan. ...
Start maximizing your employee benefits package--and saving money--with a section 125 flexible benefits plan.
A Section 125 (cafeteria) plan is an employer-sponsored plan that gives employees access to health insurance and childcare pretax benefits. Find out if you're eligible.
Basically, cafeteria plans offer a wide array of benefits that is limited only by the imagination. The menu could include a medical, dental, 401(k) and a number of paid vacation days. That is standard. But there are so many possibilities, when used, employee satisfaction increases because be...