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Guest Ralph Amadio

VEBA "look alikes"

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Guest Ralph Amadio

There seems to be a group of organizations marketing plans euphemistically purporting to be VEBA's, yet leaving the funding in the hands of the Employer. Seems to be happening in the public agency and school world more than elsewhere. I would appreciate any comments about the differences between VEBA's and "Section 115" plans. It appears to me the employers are saying "trust us, we won't spend your money" and further that the possibility of constructive receipt or a "bad" 457(f) scenario looms large. Most labor groups don't seem to be aware of the difference betweens these "look alikes" and a real 501(c ) 9.

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How can I find out more about these plans?

In what state are they being marketed?

Is it only 1 marketing group?

Who is marketing these plans?

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Guest Ralph Amadio

The intent of these plans seems to be to leave the assets in the hands and on the general ledger of the Employer, similar to the old rules of governmental 457.

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