ELB QUESTION - IMPUTED INCOME

hi reli

NOOOOO this should not be deducted from your ELB AT ALL!!!!!

ya id be calling them . glad you did your research and checked out the act and its regulations . good job . yes you can refer to these when speaking with them it should help specifically section 18 of the regs .

hope this helps

propat

Hi ReliOn,

No tax for issued for my LTD benefits as this insurance is 100% employee paid. My ELB is reduced as a result of this LTD monthly payment, but, the way I read the ELB policy it states taxable income. I may have to ask VAC about this. Thought that I might be able to gain some insight from this forum before taking with VAC.

AirLog

A great question! AirLog i do not have an answer. I would bet VAC will have to look into it. It is a somewhat uncommon situation. I would guess that it will reduce your ELB. This monies for LTD is any tax form issued?

I have an ELB question. I receive ELB for my disability. I am not DEC so ELB should continue until age 65 or competition of my rehab. As we all know ELB is 90% of mil salary less imputed income. My ELB is basically reduced by my pension and LTD from my civilian employer. The New Veterans Act states in part that ELB will be reduced by, "(d) benefits payable under any employer-sponsored long-term disability insurance plan other than amounts payable for a dependent child." I do receive LTD that is 100% paid by the employees and 0% paid by the employer. As such my LTD is 100% tax free. In this situation should VAC be including my LTD as imputed income for calculating my ELB? Any thoughts or has anyone been in this exact situation?

Thanks.

AirLog