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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.
Patient Protection and Affordable Care Act amended Section 125 [7] such that FSAs may not allow employees to choose an annual election in excess of a limit determined by the Internal Revenue Service. [8] The annual limit was $2,500 for the first plan year beginning after December 31, 2012. [9]
Section 125 excludes cafeteria plans, including health flexible savings account plans. [23] Section 127 excludes qualifying educational assistance plans. [23] Section 129 excludes a qualifying dependent care assistance program, such as a dependent care flexible spending account plan. [23] Section 137 excludes a qualifying adoption assistance ...
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Flexible Spending Accounts (FSAs), commonly referred to as “Section 125” plans or “Cafeteria” plans, were developed as part of Internal Revenue Code Section 125 to provide employees with tax relief for their un-reimbursed medical and dependent day-care costs.
The effect of this plan would be lower lifetime benefits for Americans, says the Congressional Budget Office, and it won’t change the year when Social Security would need to cut benefits anyway.
The Marines came home that October and 14 months later, in December 2009, they went again. This time was different. The Marines were sent to clear insurgents from the Helmand Province town of Marjah. The plan was for the U.S. and Afghan governments to pour in assistance and government services and turn Marjah into a model of development and ...
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