This bill, titled the "Optimizing Participant Tax Incentives through Optional Noncash Selections Act" or the "OPTIONS Act," amends the Internal Revenue Code of 1986. Its primary purpose is to establish that employers may offer employees a choice among various tax-favored employer contributions without the mere availability of choice causing those benefits to be included in the employee's gross income. The legislation introduces a new section, 125A, to create "Qualified Benefit Options Plans" (QBOPs). Under a QBOP, employees can elect to allocate employer contributions among specific "qualified benefits." These qualified benefits include non-elective employer contributions to retirement plans (sections 402 or 403), contributions to health reimbursement arrangements or health savings accounts (sections 105 or 106), and amounts paid under qualified educational assistance programs (section 127), along with other tax-exempt benefits. Crucially, a QBOP explicitly prohibits employees from electing to receive cash or any other taxable benefit instead of the qualified benefits. The bill also stipulates that rules similar to those governing cafeteria plans under Section 125, particularly regarding highly compensated participants and nondiscrimination, will apply to QBOPs. The amendments made by this Act are set to apply to taxable years beginning after December 31, 2025.