Originally Posted by
fanaticalflyer
If you elect to have it go into your retirement, all of it goes in untaxed, is that correct? But otherwise it's taxed when receiving it in your pay check.
Yes. Just like any other income. You can only shield x amount of your income via pretax 401k and B contributions. Any pretax contributions above x go to VEBA. This limit is reached via profit sharing or regular income, either one or both, it does not matter.