What is a cafeteria plan?

Question

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A cafeteria plan is an employee benefit plan that allows employees to choose which benefits they want to receive from a list of options provided by their employer. It is also often referred to as a "flexible benefit plan," "cafeteria benefits plan," or "Section 125 plan." This plan allows employees to customize their benefits package to fit their personal needs, which can include health insurance, life insurance, disability insurance, retirement savings plans, and more.

What Is a Cafeteria Plan