Skip to Content

Group Term Life without $50K exemption

We have a group term life plan that is a non-qualified plan where the eligible employees have to pay imputed income on the entire coverage amount (we have lost the Code Section 79 $50,000 exemption for this plan). We also have a plan that the $50K exemption applies to (section 79 compliant). In Payroll > Benefits Integration we configured the $50K exemption since that is the plan that applies to most employees. How do I get imputed income on the full coverage amount in the non-qualified plan?

Add a comment
10|10000 characters needed characters exceeded

Related questions

0 Answers

Before answering

You should only submit an answer when you are proposing a solution to the poster's problem. If you want the poster to clarify the question or provide more information, please leave a comment instead, requesting additional details. When answering, please include specifics, such as step-by-step instructions, context for the solution, and links to useful resources. Also, please make sure that you answer complies with our Rules of Engagement.
You must be Logged in to submit an answer.

Up to 10 attachments (including images) can be used with a maximum of 1.0 MB each and 10.5 MB total.