CAFETERIA-STYLE BENEFIT PLAN

n. a company benefit plan which provides employees with perks on top of minimum coverage in medical insurance, retirement benefits, and such. Credits earned are used to buy added benefits like more life and dental insurance.

CAFETERIA-STYLE BENEFIT PLAN: "A cafeteria-style benefit plan entitles an employee to earn credits and use these added points to purchase more benefits of his or her own choice."
Cite this page: N., Pam M.S., "CAFETERIA-STYLE BENEFIT PLAN," in PsychologyDictionary.org, April 7, 2013, https://psychologydictionary.org/cafeteria-style-benefit-plan/ (accessed September 21, 2019).
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