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LSDefine

Simple English definitions for legal terms

cafeteria plan

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A quick definition of cafeteria plan:

A cafeteria plan is a program that lets employees choose from a list of benefits offered by their employer. These benefits can include things like health insurance, retirement plans, and even cash. The employee agrees to have a portion of their salary taken out before taxes to pay for the benefits they choose. This means they pay less in taxes and can save money. The government has rules about what benefits can be offered and how the program works.

A more thorough explanation:

A cafeteria plan is a type of employee benefit program that allows employees to choose from a list of benefits offered by their employer. The Internal Revenue Service (IRS) requires that a cafeteria plan must offer at least one taxable benefit and one qualified, or nontaxable, benefit.

For example, an employee may choose to receive a portion of their salary as cash, which is taxable, or they may choose to receive accident and health benefits, which are nontaxable. The employee agrees to give a portion of their salary on a pre-tax basis to pay for the qualified benefits.

However, the salary reduction contributions are not actually received by the employee. Instead, they are used to pay for the chosen benefits.

A cafeteria plan is a way for employers to offer a variety of benefits to their employees while also providing tax advantages. It allows employees to customize their benefits package to fit their individual needs.

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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