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Employer-Owned Life Insurance Benefits May Be Subject to Income Tax

Employer-Owned Life Insurance Benefits May Be Subject to Income Tax

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February 2018

As a business owner or employee benefits specialist, you may be aware that the Pension Protection Act was enacted in 2006 to increase oversight of retirement accounts and hold businesses accountable for underfunded accounts. However, what many employers don’t know is that there is a provision within the Act that can cause your business hundreds of thousands of dollars—employer-owned life insurance (EOLI).  

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