See how adopting a Section 125 cafeteria plan changes an average employee's pay and taxes, and how much your company can save in payroll (FICA) taxes across all eligible employees.
Typical gross pay per pay period for an eligible employee, before any plan contributions.
Combined average state and federal income tax rate assumed for the employee.
Table of Federal Income Brackets and Rates. Tax Rate For Single Filers For Married Individuals Filing Joint Returns For Heads of Households 10% $0 to $11,925 $0 to $23,850 $0 to $17,000 12% $11,925 to $48,475 $23,850 to $96,950 $17,000 to $64,850 22% $48,475 to $103,350 $96,950 to $206,700 $64,850 to $103,350 24% $103,350 to $197,300 $206,700 to $394,600 $103,350 to $197,300 32% $197,300 to $250,525 $394,600 to $501,050 $197,300 to $250,500 35% $250,525 to $626,350 $501,050 to $751,600 $250,500 to $626,350 37% $626,350 or more $751,600 or more $626,350 or more.
If yes, extra savings from the plan are redirected into pre-tax retirement contributions instead of increasing take-home pay.
Total number of employees eligible to participate in the plan, used to scale company-wide savings.
Employer matching contribution added to the employee's qualified retirement plan.
Amount the employee currently sets aside for retirement using after-tax dollars, outside the qualified plan.
Amount the employee currently pays out-of-pocket, after tax, for insurance premiums or other qualifying expenses.