Three Crescent Inc.offers its employees the option of flexible-benefit plans.In this context,which of the following is a requirement resulting from Internal Revenue Code's Section 125 and/or The Deficit Reduction Act (DEFRA) ?
A) Employees will not be allowed to carryover individual balances if the selected benefits are not fully used.
B) Employees must be allowed to make a choice only among taxable benefits.
C) Employee benefits elections must be revocable.
D) Employees will need to complete more than three years of service before becoming eligible under the plan.
Correct Answer:
Verified
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