"If enacted, the legislation [HR 8314] would allow employers to establish a 'Qualified Benefit Options Plan,' permitting current and former employees to direct their employer contributions to benefit programs that meet their specific needs. The contributions to eligible tax-favored employer-provided benefit programs would be allocated without triggering taxable income solely due to that choice. The available benefits would include: [1] Nonelective contributions to a retirement plan; [2] Health savings account or health reimbursement arrangement contributions; [3] Qualified educational assistance benefits (including student loan repayments); [4] 'Other benefits which are excluded from gross income' under the Internal Revenue Code."  MORE >>