(a) The governing board of a system may develop, implement, and administer a cafeteria plan.
(b) The governing board may include in the cafeteria plan any benefit that may be included in a cafeteria plan under federal law.
(c) The governing board may cooperate and work with and enter into a necessary contract or agreement with an independent and qualified agency, person, or entity to:
(1) develop, implement, or administer a cafeteria plan; or
(2) assist in those activities.
(d) The governing board may adopt an order terminating the cafeteria plan and providing a procedure for the orderly withdrawal of the system and its employees from the cafeteria plan if the governing board determines that a cafeteria plan adopted under this section is no longer advantageous to the system and its employees.