Voluntary Employees Beneficiary Association

Voluntary Employees Beneficiary Association

Also called a VEBA. A non-profit organization in the United States that administers employee benefits. Under the subsection, profits from a VEBA are tax free, provided employees are not required to join, members control the organization, earnings do not benefit any one member or group of members and the VEBA does not substantially engage in any activities other than administration of benefits.
References in periodicals archive ?
However, we didn't see meaningful results until we were able to convert our Voluntary Employees Beneficiary Association trust relationship to Colorado's Boards of Education Self-Funded Trust pool--and then partner with Penrose-St.
Pension and OPEB are provided through one state administered defined benefit plan -- Municipal Employees' Retirement System (MERS) -- and two county defined benefit plans: Employees Retirement System (ERS) and Voluntary Employees Beneficiary Association (VEBA).
Prior to the February 2015 judgment, the court ordered Koresko to transfer to the court-appointed independent fiduciary $1.68 million in assets he had taken from the Regional Employers Assurance Leagues Voluntary Employees Beneficiary Association and the Single Employer Welfare Benefit Plan Trusts.
* Texas regulators shut down Britannia International Life & Casualty for selling unauthorized stop-loss coverage to employers through two plans that were shut down in March 2002 for being illegal: American Benefit Plans and United Employers Voluntary Employees Beneficiary Association. The department also filed an administrative complaint against licensed agent Richard Oleck for marketing the unauthorized products.
Tax Court held that contributions made by an employer to its voluntary employees beneficiary association (VEBA) for post-retirement medical and life insurance benefits were not deductible because the amounts contributed were spent the following year on benefits for active employees and did not constitute a "reserve" for retiree benefits.
Although they have been in existence since 1928, Voluntary Employees Beneficiary Associations (VEBA) are not well known or understood.
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