cafeteria benefits plan

(redirected from Flexible Benefits Plan)

cafeteria benefits plan

(1) A type of plan in which employees tailor their benefits—e.g., health insurance, disability insurance, retirement/pension scheme, death benefits—to meet specific needs.
(2) An indirect compensation plan where a person chooses the benefits that he or she may recieve up to a particular monetary limit, over and above a common core-benefits package.
Mentioned in ?
References in periodicals archive ?
The consultant's initial assignment was to resolve any ongoing system, contractual, and procedural issues related to MARTA's outsourcing of its flexible benefits plan administration.
This is a flexible benefits plan that provides each employee with credits used to purchase appropriate of coverage under various programs.
* created a flexible benefits plan. Austin Diagnostic had long wanted to offer a flexible benefits package to help recruit and retain employees as well as reduce training and turnover expenses.
* Look at your flexible benefits plan - or cafeteria plan - at work, if you have one.
Mitchell, is concerned with whether older workers differ from younger workers in their selection of health insurance plans in a flexible benefits plan. The objective is to determine how the demand for health insurance might change as the workforce ages.
A typical program for communicating a flexible benefits plan to employees should include certain components.
In 1978 American Can introduced a flexible benefits plan that gave employees a high degree of choice; worker satisfaction with benefits is much higher than the national average.
Our flexible benefits plan and our business-results-driven variable pay plan for all salaried employees provide a solid framework for us to build on.
This can be accomplished by implementing a flexible benefits plan (FBP).
Of those who do, more than half offer dependent care spending accounts through a flexible benefits plan, 750 sponsor child-care centers, and 80 offer child-care information or referral services.
A benefits alternative for some employees is to pay for a selection of benefits through a flexible benefits plan. These "cafeteria plans" are permitted under Section 125 of the Internal Revenue Code, which enables employers to create plans providing participants the ability to choose between cash wages and certain tax-free benefits.
After adopting a flexible benefits plan for active employees in 1992, the company installed a point-of-service plan for active and retired employees last March, which had a 73-percent enrollment rate, she reports.

Full browser ?