CAFETERIA PLAN
A staff or employee is given a chance to choose from many kinds of benefits to make a plan that gives him all the best that he/she needs; this employee benefit plan is called cafeteria plan. This particular plan includes tax advantages and/or retirement plan contributions, accident insurance, cash benefits and health benefits.
"Flexible benefit plan" or "cafeteria employee benefit plan" are other terms for Cafeteria plan.
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