IRS wins challenge of VEBA funding practices
Article Abstract:
IRS victories in two Tax Court cases regarding voluntary employees' beneficiary associations (VEBA) have limited the availability of VEBAs for pre-funding certain welfare benefits. In National Presto Industries v. Commissioner, the Tax Court found that a VEBA had reserves in excess of IRC section 419A limits and that the wear-away rules were not applicable. In General Signal Corp. v. Commissioner, the Tax Court found that the VEBA failed to properly distinguish the welfare benefit fund for retired employees from that for active employees.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1995
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Ways and Means Health Subcommittee holds hearing on retiree health benefits
Article Abstract:
The Health Subcommittee of the House Ways and Means Committee, on Nov 5, 1991, investigated the impact of a lower Medicare eligibility age on health care coverage and employer liability. Evidence was presented to indicate that both employers and employees would benefit. The effects of a lower eligibility age would include health insurance coverage for uninsured retirees aged 60 to 64 and reduced corporate liability. The witnesses at the hearing generally supported lowering the eligible age from 65 to 60.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1992
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Providing and accounting for retiree health benefits: a necessary compromise
Article Abstract:
All parties involved in providing and accounting for retiree health benefits must make compromises. No single plan can provide maximum benefits for both employers and employees. The corporate culture can determine the type of plan that is selected. All parties may have to evaluate the design of the plan, explore funding mechanisms and share costs. A combination of plans may be the best compromise.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1992
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- Abstracts: ERISA's anticutback rule and contingent early retirement benefits. Exclusion of contingent attorneys' fees from gross income
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