Rev. Rul. 67-426

Revenue Ruling 61-75, C.B. 1961-1, 140, paragraph 11(b), states that a profit-sharing or stock bonus plan involving integration with benefits provided by the Social Security Act may provide benefits only upon retirement or separation from service. Such a plan, therefore, may not provide accident or health insurance benefits which are payable without separation from service. However, it may provide death benefits, or benefits upon retirement for disability, subject to the general requirements of section 401(a) of the Internal Revenue Code of 1954. See Part 2(n)(2) of Revenue Ruling 65-178, C.B. 1965-2, 94.

Revenue Ruling 61-75 is hereby amplified.r