Cafeteria Plan
An employee benefit plan that allows staff to choose from a variety of benefits to formulate a plan that best suits their needs.
Also known as "cafeteria employee benefit plan" or "flexible benefit plan". Investopedia Says:
Similar to a cafeteria where individuals select their food of choice, employees may choose benefits of their choice. Plan options include health and accident insurance, cash benefits, tax advantages and/or retirement plan contributions. Related Terms:
Accident and Health Benefits
Defined Benefit Plan
Leveraged Employee Stock Ownership Plan - LESOP
Qualified Retirement Plan
Target Benefit Plan |