S.988 - SIMPLE Cafeteria Plan Act of 2009

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 2009 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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Introduced
 
Senate
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House
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President
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05/06/09
 
 
 
 
 
 
 

Official Summary

SIMPLE Cafeteria Plan Act of 2009 - 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 10

Official Summary

SIMPLE Cafeteria Plan Act of 2009 - 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 after 2010.

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