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Can board members be covered by employee benefits?

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I'm aware of several such employers that cover Board members under (substantially) the same medical benefits as provided to employees. Life insurance coverage also. To the best of my knowledge, this does not extend to any type of retirement plan, but I cannot say for sure.

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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The various benefits can be provided, subject to terms of insurance policies and other contracts, but the tax consequences are likely to be different and administration of benefits generally will be complicated by the addition. The organization must be particularly cautious about retirement-type benefits. There is some possibility of state insurance law concerns, depending on the benefit and how it is provided.

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