HRA / VEBA

Devenir is a leader in providing comprehensive investment offerings for VEBA and Section 115 Trust accounts. VEBA Trusts are IRS-approved Federal tax-exempt trusts that fall under IRS Code 501(c)(9). VEBA Trusts are intended to provide health and welfare benefits through a pooled trust to employees of a common organization. Employees are allocated pre-tax dollars from the trust that allows them to pay for qualified medical expenses, disability, severance, and life insurance benefits.

Section 115 trusts do not need IRS approval, but must obtain a private letter ruling from the IRS to be considered tax-exempt and do not have the additional contribution discrimination testing of a VEBA or HRA.