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Magda is the CEO of a home electronics corporation. She wants to provide benefits for her employees but would still like to control the company's costs. Salena, the head of the HR department, suggests implementing a cafeteria-style plan. What would be the most likely benefit of Magda doing so

Sagot :

Magda will be benefited by attracting new employees and the retention of the employees in the organization.On cafeteria-style benefit plans, they do not have to pay FICA.

What is cafeteria-style benefits plans?

Cafeteria-style benefits plans is the benefit provided to the employees by reducing their tax liability. It gives the chance to the employees to choose the pre-tax benefits.

The most likely benefit that Magda would receive on this plan would be of the existing employees retention and their loyalty with satisfaction. They do not need to pay FICA on cafeteria-style benefits plans.

Learn more about  benefits here:

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