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BenefitsLink Newsletter

New U.S. tax and labor law materials on the net pertaining to
employee benefits, for employers, participants and service-providers.
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NEW, LOWER TABLE FOR GROUP-TERM LIFE INSURANCE GOES FINAL

The IRS has issued a final regulation under section 79,
providing a new table for purposes of imputing income under
group-term life insurance sponsored by an employer for its
employees.

The table is unchanged from the table set forth earlier
this year in the proposed version of the regulation.

The general effective date remains July 1, 1999, but an
employer that currently uses 10 age brackets may do so
until January 1, 2000 (thereby eliminating the need for
"hard coded" systems to be modified during 1999 to include
the new "Under 25" age bracket).

Full text of the final regulation is at

   http://www.benefitslink.com/taxregs/final79.shtml

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