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Group Term Life without $50K exemption

Dec 20, 2016 at 12:58 AM

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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?

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