Jump to content

Retiree Life & VEBA & Key Employee


alexa
 Share

Recommended Posts

  • 2 weeks later...

IRC Section 419A(d)(3): "For purposes of this section, the term "key employee" means any employee who, at any time during the plan year or any preceding plan year, is or was a key employee as defined in section 416(i)."

IRC Section 79(d)(6); "For purposes of this subsection, the term "key employee" has the meaning given to such term by paragraph (1) of section 416(i). Such term also includes any former employee if such employee when he retired or separated from service was a key employee."

Whichever way you look at it, 416(i) governs.

Link to comment
Share on other sites

I thought so

But the trouble I am having is I am a list of all officers

Noone in Legal can tell me who satisfies the 416 reg

Can anyone provide help in this determination

thanks

They better get on the stick, they have to do it for 409A anyway. (helpful comment, eh!)

Link to comment
Share on other sites

I thought so

But the trouble I am having is I am a list of all officers

Noone in Legal can tell me who satisfies the 416 reg

Can anyone provide help in this determination

thanks

They better get on the stick, they have to do it for 409A anyway. (helpful comment, eh!)

What do you mean? I'm not as up-to-speed on the 409A

Is this the same key defintion as under VEBA?

Link to comment
Share on other sites

I am surprised that a company large or sophisticated enough to have both a VEBA and retiree life issues, does not also have 409A issues. Although I know a few F500 companies where either or both the head of the Tax Dept and the head of Benefits did not know either, even though mentoned as an issue in their own 2006 and 2007 Annual Reports.

Do you have things such as a Deferred Compensation Plan, a Supplemental Executive Retirement Plan, an Executive Severance Plan, a Stock Option Plan or anything other than the basic employee benefits?

George D. Burns

Cost Reduction Strategies

Burns and Associates, Inc

www.costreductionstrategies.com(under construction)

www.employeebenefitsstrategies.com(under construction)

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...