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Flexible benefits
A type of plan under Section 125 of the Internal Revenue Code that provides employees a choice between permissible taxable benefits, including cash, and nontaxable benefits such as life and health insurance, vacations, retirement plans, and child care. Although a common core of benefits may be required, the employee can determine how his or her remaining benefit dollars are to be allocated for each type of benefit from the total amount promised by the employer.
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- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Labor
- Category: Labor statistics
- Company: U.S. DOL
- Product:
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