Sample Section 125 Plan Document 2021-2024 Form

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good morning and happy monday to you today is monday february 8th congratulations to last night's super bowl champions the tampa bay buccaneers i understand it's the second time in the last 20 years that they have won the super bowl i kind of wish that they were in chicago here today's topic will be on premium only plans sometimes they're referred to as pop or irs section 125. this is a plan that is a non-discriminatory plan that will help the employer and the employee save money by converting premiums from an after-tax basis to a pre-tax basis let's take a look at some of the advantages to the employer and some of the advantages to the employee to the employer one it reduces payroll taxes two improves benefits cost control three minimal investment to implement and four saves on workmen's comp insurance premiums to the employee one increases take-home pay 2 reduces federal state and social security taxes this also reduces social security benefits at retirement so let's take a look at h