A plan that offers flexible benefits under IRC section 125. Employees choose their benefits from a .menu. of cash and benefits, some of which can be paid for with pretax deductions from wages.
A tax term that refers to an employee benefit plan maintained by an employer. A cafeteria plan allows employees to take taxable cash or to select among certain nontaxable benefits such as dependent care, group-term life insurance, and health insurance. It is known by other names including flexible spending plan, or simply as a flex plan.
A human resource benefits plan where enrolled members can select and accumulate predefined medical, investment and other options.