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VEBA Plan Management
VEBA trusts have been around since 1928 and have been widely used by unions and large corporations. In 1986, the tax code was amended so that smaller businesses could also take advantage of VEBA tax planning opportunities. Closely held businesses are now allowed to join an existing multiple-employer VEBA as long as it has already received a favorable letter of determination from the Internal Revenue Service (verifying the trust's tax-exempt status) and has an independent trustee (usually a bank). An administrator usually handles all the appropriate compliance filings.

Solidarity Health Network can assist your organization with the following in addition to several others:

  • Prepare documentations for VEBA Implementation
  • Design Benefits on behalf of Plan Sponsor
  • Assist Plan Sponsor with all communications to eligible members and distribute all plan documents
  • Set-up and operate a call center to assist retirees and employees with questions
  • Handle invoicing and reconciliation for participants
  • Complete and update Summary Plan Description and distribute to all plan participants
  • Complete and distribute Certificates of Coverage to plan participants
  • Distribution of Summary Annual Report to all plan participants

A VEBA trust provides a number of significant business planning opportunities:

  • The program allows for large, flexible and fully deductible contributions.
  • Assets accumulate and compound on a tax-deferred basis.
  • Assets are protected from all personal and corporate creditors.

For more information contact one of our VEBA Trust Expert Representatives at 888.338.7677.