Defining Compensation

[Guest lforesz]

I am reading the different definitions of compensation to try and determine whether to include or exclude excess group term life insurance from plan compensation. Does anyone know if this is considered a "welfare benefit" as that term is used in the "reimbursements or other expense allowances, fringe benefits, moving expenses, deferred compensation and welfare benefits category"? If not, than the only other thing I can think of is that it is like taxable PS-58 costs and included in W-2 compensation but excluded from 3401(a) wages subject to withholding. Any help is greatly appreciated?

Thanks a lot!

[E as in ERISA]

In his ERISA Outline Book, Sal Tripodi clarifies the differences between the compensation definitions. He indicates that to the extent that group term life insurance provided by the employer is includible in an employee's gross income, then it is includible in the 415 "includible compensation" definition and the W-2 definition. He say that it is excludable from the wages for withholding definition under IRC Section 3401(a)(14). Does that work?