TPApril Posted January 21, 2016 Share Posted January 21, 2016 Can non-profit board members be covered by benefits that are offered to employees? Being paid, are they considered employees? Link to comment Share on other sites More sharing options...
david rigby Posted January 21, 2016 Share Posted January 21, 2016 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. Link to comment Share on other sites More sharing options...
K2retire Posted January 21, 2016 Share Posted January 21, 2016 Are they paid as W-2 employees or 1099-MISC contractors? Link to comment Share on other sites More sharing options...
QDROphile Posted January 21, 2016 Share Posted January 21, 2016 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. Link to comment Share on other sites More sharing options...
Recommended Posts
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 accountSign in
Already have an account? Sign in here.
Sign In Now