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Scott

Merger of VEBAs and Change of Benefits Provided

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As a result of several acquisitions, an employer maintains 3 VEBAs. The assets of each of the VEBAs currently provide benefits for active and retired employees. The employer wants to accomplish 2 things: (1) merge the 3 VEBAs into one, and (2) use the VEBA to provide only retiree medical and life benefits.

Are there any tricky issues to be aware of in merging VEBAs?

Is it OK to stop using a VEBA to provide certain benefits (in this case, benefits for active employees)?

Would a PLR be recommended?

Should the employer file Form 1024 for the new VEBA structure?

Anything else the employer should consider?

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