Definition of "Cafeteria benefit plan"
Michael Lawrence, Real Estate Agent
First Harvest Real Estate Company
Arrangement under which employees may choose their own employee benefit structure. For example, one employee may wish to emphasize health care and thus would select a more comprehensive health insurance plan for the allocation of the premiums, while another employee may wish to emphasize retirement and thus allocate more of the premiums to the purchase of pension benefits.
Have a question or comment?
We're here to help.