Cafeteria Plan

外汇网2021-06-19 14:16:46 80

An employee benefit plan that allows staff to choose from a variety of benefits to formulate a plan that best suits their needs. Cafeteria plan options may include health and accident insurance, cash benefits, tax advantages and/or retirement plan contributions.

Also known as "cafeteria employee benefit plan" or "flexible benefit plan".

Similar to a cafeteria where inpiduals select their food of choice, employees may choose benefits of their choice. These plans become more useful as persity within workforces continues to grow. For example, the benefit needs of young families may differ greatly from those of a single person.

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