A Section 125 Cafeteria Plan provides a way for employees to select certain benefits normally paid on an after-tax basis and, through salary reduction, pay for these benefits on a pre-tax basis. The most common benefits include health insurance premiums, out-of-pocket medical expenses, and dependent care expenses. Section 125 will benefit employers with reduced payroll costs and an enhanced ability to recruit and retain quality employees. Meanwhile, employees enjoy the increase in take-home pay and the option to choose from benefits that address their individual needs.
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- Why Should NJ Employers Offer Employee Benefits?
- When Should A NJ Startup Business Offer Benefits?
- What Are The Basics Of NJ Employee Benefits?
- How Should Employees Be Involved In Benefits Plan Selections?
- How Are Employee Benefits Paid For?
- How Can Employee Benefit Plans Be Used Most Effectively?
- What Types Of Rules Must Be Followed?
- What Is The Process At Policy Renewal/Plan Anniversary?
- How Can A NJ Benefits Specialist Help?