What is a cafeteria plan?
What is a cafeteria plan? A cafeteria plan is a separate written plan maintained by an employer for employees that meets the specific requirements of and regulations of section 125 of the Internal...
View ArticleWho may receive benefits under a cafeteria plan?
Who may receive benefits under a cafeteria plan? The plan may make benefits available to employees, their spouses and dependents. It may also include coverage of former employees, but cannot exist...
View ArticleIs there a filing requirement for a cafeteria plan?
Is there a filing requirement for a cafeteria plan? Generally, no. If you only have a cafeteria plan, you are not required to file Form 5500 or Schedule F. However, if you have a welfare benefit plan,...
View ArticleHow does a cafeteria plan work?
How does a cafeteria plan work? Employer contributions to the cafeteria plan are usually made pursuant to salary reduction agreements between the employer and the employee in which the employee agrees...
View ArticleWhat is a flexible spending arrangement?
What is a flexible spending arrangement? A flexible spending arrangement (FSA) is a form of cafeteria plan benefit, funded by salary reduction, that reimburses employees for expenses incurred for...
View ArticleWhen benefit exceed $5000
A town has a cafeteria plan (section 125 plan), which offers dependent care assistance. The benefits received by an employee exceed $5,000. How is this benefit reported on Form W-2? An employee can...
View ArticleWhat remuneration under a cafeteria plan is not subject to FICA, FUTA,...
What remuneration under a cafeteria plan is not subject to FICA, FUTA, Medicare tax or income tax withholding? Generally, qualified benefits under a cafeteria plan are not subject to FICA, FUTA,...
View ArticleCan a cafeteria plan make advance reimbursements for medical expenses?
Can a cafeteria plan make advance reimbursements for medical expenses? No. Employees can only be reimbursed for allowable, documented expenses incurred during the plan year, after the expenses have...
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Bureau of Labor Statistics Glossary
Bureau of Labor Statistics Glossary A Absence rate (Current Population Survey) The ratio of workers with absences to total full-time wage and salary employment. Absences are defined as instances when...
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