What are PS 58 costs?
What are PS 58 costs?
TAXABLE PORTION OF PREMIUM – P.S. 58 The life insurance protection portion of the premium must be taken as a taxable benefit annually by the insured plan participant. This is called a P.S. 58 cost. The IRS has a table (Table 2001) outlining the determination of the insurance protection amount at a particular age. May 15, 2019