What employees can be excluded from the Code Section 79 life insurance tests?
For purposes of the eligibility life insurance test, the following employees may be excluded: • Employees who have not completed 3 years of service; • Part-time or seasonal employees; • Employees who are included in a collective bargaining unit where the plan has been the subject of good faith bargaining between employee representatives and the employer; and • Employees who are nonresident aliens and who receive no earned income from the employer that constitutes income from sources within the United States.
Related Questions
- Many states allow officers to be excluded or have a minimum number of employees before I am required to buy Workers’ Compensation Insurance. Do these follow through to Longshore?
- What is the schedule for taxing employees for Graduate tuition in accordance with Internal Revenue Code Section 127 and what taxes will be withheld?
- What happens to a life insurance plan that does not meet the Code Section 79 nondiscrimination testing requirements?
