Group Term Life Insurance

[Linda]

Have you heard whether the IRS will finalize the new Table I rates for GTLI with the July 1, 1999 effective date?

[Guest Deborah Grace]

On May 6, 1999, the IRS held a hearing on the proposed regulations. To date, no decision has been made as to the final effective date.

[Guest Carrie Brennan]

I don't have an answer on this, but I really need to know! We bill a month in advance, so I need to get my tables updated in a few days. Can anyone help?

[Linda]

The 5/10 BNA Pension & Benefits Reporter had an article on the IRS hearing titled "Witness Urges Delay..." A representative of the American Payroll Association asked for a 1/1/2000 effective date but the article didn't say what the IRS will do.

[Guest Jonathan L]

Final regulations were issued on May 28, 1999 by the IRS on Code Section 79 (Table 1) rates. The new rates are effective 7/1/99.

[Dave Baker]

http://www.benefitslink.com/links/19990601-001947.shtml (click)