WebFinance. Finance questions and answers. Which of the following statements concerning a rabbi trust is correct? It is a funded trust set up by the employer. The benefits can be protected for employees by an insolvency trigger. The contributions are not taxable income to the employee but are subject to FICA and FUTA taxes. WebWhich of the following employee benefits is more relevant for relational psychological contracts? accomodation and enhancement benefits. Being able to spread the administrative costs to larger groups of employees, to reduce the health insurance cost per employee, is referred to as what? Economies of scale.
What Is a VEBA—Voluntary Employees
WebMar 20, 2013 · The primary benefits of a Crummey Trust are as follows: The beneficiary can't take the property and dissolve the trust at age 18 or 21, unlike 2503 (c) Minor's Trusts or UGMA/UTMA accounts. (Unless that is the age you designated for distribution, which is not generally recommended.) The trust can continue for as long as you specified in the ... WebFeb 1, 2024 · An irrevocable rabbi trust, adequately funded, can help provide you with the assurance that your benefits will be paid in all events other than the insolvency or bankruptcy of your employer. Nonqualified deferred compensation plans offer unique benefits and come with some important considerations, so they are not right for everyone. michael gandy genealogist
Millennium Trust
WebJul 30, 2024 · Investment options often include securities, insurance arrangements or annuities, so it’s important to evaluate the potential returns and tax benefits of your deferred compensation plan versus other savings options. Plan funds can also be set aside in a Rabbi Trust; however, those funds still remain part of the employer’s general assets. WebA: Yes. Assets to meet the company’s plan obligations can be put in a grantor trust (generally called a “rabbi” trust). The assets still remain a general asset of the company, but the company may not use the assets for any purpose other than to pay employee benefits. WebAdvisory Opinion 1992-13A. This is in response to your request for an advisory opinion concerning whether a "rabbi trust," as described in your request, which is designed to invest primarily in employer stock, would be considered to be "unfunded" for the purposes of the so-called "excess benefit" and "top hat" plan exemptions under sections 4 ... michael gandolfini many saints of newark