Jill is considering naming a bypass trust as beneficiary of her IRA after her death. Jill’s spouse is a discretionary income beneficiary of the bypass trust. Which of the following is a reason for not designating the bypass trust as beneficiary of her IRA?

Employers can reimburse up to $20 a month tax-free for bicycle expenses to an employee who uses a bicycle to commute to work.

Corporate-owned key employee life insurance has no effect on a deceased key employee’s estate.

Bob died in 2015 at age 60. Bob named his spouse, Jessica (age 58), as beneficiary of his qualified plan.

If the death benefit is payable under a life insurance contract held by the qualified plan, the pure insurance amount of the death benefit is

Otis Carrington, a 50-year-old self-employed person, was severely injured in an auto accident and is no longer able to perform the tasks of any occupation. Which of the following is true?

According to the Treasury Regulations, a split dollar life insurance plan may be used only in an employer-employee relationship.

Corporate-owned key employee life insurance has no effect on a deceased key employee’s estate.

Magnum Enterprises is located five miles out of town. Magnum provides a hot and cold lunch on-site for employees without cost. Employees must include the value of meals eaten as part of their taxable income.

Defined benefit plans provide more benefit security than do age-weighted or cross-tested plans.