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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.
The main cafeteria is usually where most of the meal plan is used but smaller cafeterias, cafés, restaurants, bars, or even fast food chains located on campus, on nearby streets, or in the surrounding town or city may accept meal plans. A college cafeteria system often has a virtual monopoly on the students due to an isolated location or a ...
American corporations often offer cafeteria plans to their employees. These plans would offer a menu and level of benefits for employees to choose from. In most instances, these plans are funded by both the employees and by the employer(s). The portion paid by the employees is deducted from their gross pay before federal and state taxes are ...
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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 "plan year" is commonly defined as the calendar year, but could also include the grace period of Jan 1 – March 15 of the following year. For example, the "plan year" (or "benefit year") of 2016 would run from Jan 1, 2016, until March 15, 2017, if the employer offered the grace period.
Unlimited talk, text and data plans are now more affordable thanks to advancements in network technology and intense competition among carriers. Prepaid options and family or multi-line discounts ...
Depending on your health, your healthcare provider may provide a personalized diet plan to help you manage diabetes. Here are the dos and don’ts for taking metformin tablets: Don’t chew or ...
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