a benefit program in which an employee has a choice of credits or dollars for distribution among various benefit options, e.g., health and disability insurance, dental benefits, child care, or pension benefits. (see Cafeteria Plans; Flexible Spending Account).
This is a program specifically for the employees needs. The employee can select from a range of benefits offered by their employer.
A system of benefit provision in which employees are given a choice on the makeup of their total benefit package from an employer.Typically, under such a system, employees may choose how much of the money made available by the employer would be used for the provision of pensions, death benefits, disability health insurance, holidays, etc. Minimum limits may be laid down for certain benefits, either because they are specified by the scheme design or are made necessary by employment law or by Revenue Practice . Often called, simply, 'Flex'.
The option to choose from a menu of benefits offered by an employer. See .Cafeteria Plan..
An overall strategy and practical tool to manage cost and benefit administration. Flex benefits offer a choice among taxable and non-taxable benefits. This program can be expanded beyond the traditional health and life insurance options to include components of paid time-off programs such as vacation buy/sell arrangements.
A program where employees can select from a range of benefits offered by their employer in order to meet their own specific needs.
Under a cafeteria plan, selected benefits that qualify for pretax treatment.