S.555 - SIMPLE Cafeteria Plan Act of 2007

A bill to amend the Internal Revenue Code of 1986 to allow small businesses to set up simple cafeteria plans to provide nontaxable employee benefits to their employees, to make changes in the requirements for cafeteria plans, flexible spending accounts, and benefits provided under such plans or accounts, and for other purposes. view all titles (2)

All Bill Titles

  • Short: SIMPLE Cafeteria Plan Act of 2007 as introduced.
  • Official: A bill to amend the Internal Revenue Code of 1986 to allow small businesses to set up simple cafeteria plans to provide nontaxable employee benefits to their employees, to make changes in the requirements for cafeteria plans, flexible spending accounts, and benefits provided under such plans or accounts, and for other purposes. as introduced.

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02/11/07
 
 
 
 
 
 
 

Official Summary

2/12/2007--Introduced.SIMPLE Cafeteria Plan Act of 2007 - Amends the Internal Revenue Code to establish a new employee benefit cafeteria plan to be known as a Simple Cafeteria Plan. Defines "Simple Cafeteria Plan" as a cafeteria plan which: (1) is established and maintained by an

Official Summary

2/12/2007--Introduced.
SIMPLE Cafeteria Plan Act of 2007 - Amends the Internal Revenue Code to establish a new employee benefit cafeteria plan to be known as a Simple Cafeteria Plan. Defines "Simple Cafeteria Plan" as a cafeteria plan which:
(1) is established and maintained by an employer with an average of 100 or fewer employees during a two-year period;
(2) requires employers to make contributions or match employee contributions to the plan;
(3) requires participating employees to have at least 1,000 hours of service for the preceding plan year and allows such employees to elect any benefit available under the plan;
(4) permits participation by self-employed individuals; and
(5) includes long-term care insurance as an qualified benefit. Exempts employers who make contributions for employees under a simple cafeteria plans from pension plan nondiscrimination requirements applicable to highly compensated and key employees. Modifies rules applicable to employee benefit flexible spending arrangements, including health and dependent care arrangements, to permit participants to make or modify elections regarding covered benefits and to carry over up to $500 (indexed for inflation) of unused benefits to the succeeding year or transfer such unused amounts to another plan, including an individual retirement plan or a health savings account. Allows an exclusion from the gross income of an employee of up to $7,500 ($10,000 for employees with one or more dependents) for employer contributions to a flexible spending arrangement. Provides for a cost-of-living adjustment to such exclusion amounts beginning in calendar year 2007.


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Recent Blog Coverage

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03/08/11
S.555: Student Non-Discrimination Act of 2011 - U.S. Congress ...

Official government data, breaking news and blog coverage, public comments and user community for S.555 A bill to end discrimination based on actual or perceived sexual orientation or gender identity in public schools, ... Source: opencongress.org .... Ope

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09/28/09
S.1730: Fairness in Health Insurance Act - U.S. Congress ...

Auflage 2005, S. 555 ff. - Pattar, Andreas Kurt, Islamisch inspiriertes Erbrecht und deutscher Ordre public, 2007. - Scholz, Peter, Islam-rechtliche Eheschließung und deutscher . ... Although the Monsanto matter arose after the Judiciary Committee reporte

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01/01/09
euro-policeges Sicherheitsarchitekturen im Wandel Polizei ...

Peilert, A.; Kösling, W.: Bundespolizei – vormals Bundesgrenzschutz, in: Groß; Frevel; Dams a.a.O. (Fn. 9), S. 555-590 [12] Dem Zoll ist bislang unverdient wenig Aufmerksamkeit geschenkt worden. Für den gegenwärtigen Zustand s. die ...

Source: euro-police
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