VEBA trusts are tax-exempt employee benefit trusts. VEBAs were created by an Act of Congress in 1928 and are governed under IRC Section 501(c)(9). VEBAs have been used for years in private sector and Taft-Hartley Health and Welfare Benefit Funds. The private sector has commonly used VEBAs to pre-fund retiree health care benefit plans. Taft-Hartley Health and Welfare Benefit Funds are using VEBAs to hold assets for collectively bargained union benefit plans.
In both the Taft-Hartley and public sector markets VEBAs are becoming popular funding mechanisms to not only fund health and welfare retiree health care benefit plans but also serve as the funding source for individual post-employment healthcare savings plans.
RT Consulting has broad expertise covering all areas of employee benefit plans along with many years of success in Flexible Benefit Plan administration. Client needs continue to change due to continued legislation affecting Employee Benefits. RT utilizes proprietary, cutting-edge data management tools to perform multi-disciplinary and integrated population based analysis.
The RT solution provides an automated, highly customizable, and much simpler end-user experience for the client. We combine our expertise with technology to streamline administration, eliminate paperwork, reduce work for Human Resources so they can focus on more pressing issues and ultimately reduce your costs.
In a time where employees are becoming conscious of their benefits, RT provides the support and choices to round out a comprehensive employee benefits package.
Currently, over three quarters (78%) of employees want a greater variety of benefits to choose from and 80% would value benefits customized to individual circumstances and age. And, more than ever, employees are ready to share responsibility for this variety: 60% are willing to bear more of the cost in order to have a choice of benefits that meet their needs.