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All the following statements concerning Voluntary Employee Beneficiary Associations (VEBAs) are correct, EXCEPT: The employer may deduct contributions for federal income tax purposes. The employer
All the following statements concerning Voluntary Employee Beneficiary Associations (VEBAs) are correct, EXCEPT:
The employer may deduct contributions for federal income tax purposes. | ||
The employer avoids taxation on the investment income earned on contributions. | ||
The employee may be provided retirement and miscellaneous fringe benefits. | ||
Noncurrent employees may become members of a VEBA. |
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