We fund our retiree life through a VEBA.
We exclude key employees from this
How is a key employee defined for VEBA purposes?
thanks

IRC Section 419A(d)(3): "For purposes of this section, the term "key employee" means any employee who, at any time during the plan year or any preceding plan year, is or was a key employee as defined in section 416(i)."
IRC Section 79(d)(6); "For purposes of this subsection, the term "key employee" has the meaning given to such term by paragraph (1) of section 416(i). Such term also includes any former employee if such employee when he retired or separated from service was a key employee."
Whichever way you look at it, 416(i) governs.

I thought so
But the trouble I am having is I am a list of all officers
Noone in Legal can tell me who satisfies the 416 reg
Can anyone provide help in this determination
thanks

They better get on the stick, they have to do it for 409A anyway. (helpful comment, eh!)

What do you mean? I'm not as up-to-speed on the 409A
Is this the same key defintion as under VEBA?

the definition of "specified employee" for purposes of 409A also points to def. of key employee in section 416. Your legal department has to keep a running tab of who is in the top 50 or they're not doing their job.

I am surprised that a company large or sophisticated enough to have both a VEBA and retiree life issues, does not also have 409A issues. Although I know a few F500 companies where either or both the head of the Tax Dept and the head of Benefits did not know either, even though mentoned as an issue in their own 2006 and 2007 Annual Reports.

Do you have things such as a Deferred Compensation Plan, a Supplemental Executive Retirement Plan, an Executive Severance Plan, a Stock Option Plan or anything other than the basic employee benefits?