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A cafeteria plan or cafeteria system is a type of employee benefit plan offered in the United States pursuant to Section 125 of the Internal Revenue Code. [1] Its name comes from the earliest versions of such plans, which allowed employees to choose between different types of benefits, similar to the ability of a customer to choose among available items in a cafeteria.
A cafeteria plan - also known as a Section 125 plan, after the portion of the IRS code that regulates the plans - lets employees redirect part of their salaries and wages to pay for certain benefits.
Childs Restaurant, Philadelphia, Pennsylvania, c. 1908 This is a list of cafeterias.A cafeteria is a type of food service location in which there is little or no waiting staff table service, whether a restaurant or within an institution such as a large office building or school; a school dining location is also referred to as a dining hall or canteen (in the UK, Ireland and some Commonwealth ...
A corporate office's cafeteria in Bangalore, India, December 2003.. A cafeteria, sometimes called a canteen outside the U.S. and Canada, is a type of food service location in which there is little or no waiting staff table service, whether in a restaurant or within an institution such as a large office building or school; a school dining location is also referred to as a dining hall or ...
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The exception to the general rule includes certain executive benefits (e.g. golden handshake and golden parachute plans) or those that exceed federal or state tax-exemption standards. American corporations may also offer cafeteria plans to their employees. These plans offer a menu and level of benefits for employees to choose from. In most ...
The word derives from the early 19th century, taken from the French word restaurer 'provide meat for', literally 'restore to a former state' [2] and, being the present participle of the verb, [3] the term restaurant may have been used in 1507 as a "restorative beverage", and in correspondence in 1521 to mean 'that which restores the strength, a fortifying food or remedy'.
The Alternative: If you don't plan to spend decades enjoying your home, talk with a real estate agent to see if moving makes more sense. Read the original article on Southern Living Show comments