Excludable "Welfare Benefits" under 1.414(s)-1(c)3

[Briandfox]

We typically exclude all items of compensation listed under Treas. Reg. 1.414(s)-1©(3), such as "reimbursements or other expense allowances, fringe benefits (cash and noncash), moving expenses, deferred compensation, and welfare benefits."

It occurs to me that amounts deferred under 125(a) could be a welfare benefit, which we would typically include in comp under our plans. Does anyone know if 125(a) elections are included in the exclusion as welfare benefits?

I have found nothing that clearly defines what a welfare benefit is under the reg. Most people seem to believe that, whatever it is, it is an employer (not an employee) funded benefit.

Thanks