A benefit program that offers employees a choice between various benefits including cash, life insurance, health insurance, vacations, retirement plans, and child care. Although a common core of benef [..]

A benefit program that offers employees a choice between various benefits including cash, life insurance, health insurance, vacations, retirement plans and child care. Although a common core of benefits may be required, you can choose how your remaining benefit dollars are to be allocated for each type of benefit from the total amount promised by t [..]

An employer-sponsored plan under which employees are offered the opportunity to choose from a “menu” of benefits, both taxable and nontaxable. Also called a cafeteria plan or a Section 125 plan (after the appropriate section of the Internal Revenue Code).