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The BenefitsLink Newsletter -
Welfare Plans Edition
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February 8, 2002 - 6,451 subscribers
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Insurer Properly Denied AD&D Benefits Under Policy's Felony Exclusion, Fourth Circuit Rules
An insurance company properly applied a policy's felony exclusion to deny accidental death and dismemberment benefits to the beneficiary of a 19-year-old insured who shot himself. This was the ruling of the Fourth Circuit U.S. Court of Appeals in Simpson v. Safeco Life Insurance Company (No. 01-1804). (Spencernet)

Working Parents Mostly Tough Out Child Care Issues on Their Own
Excerpt: "A decade ago, American business seemed to be addressing the child-care issues that inevitably follow as more women combine motherhood with paying jobs.... While no one expected business alone to solve the problem, the promise of help has, for the most part, gone unfulfilled." (Society for Human Resource Management)

Rising Health Costs Likely To Be 'Hot Issue' During November Elections, National Journal Reports
Excerpt: "Among the public, 'growing alarm' over health insurance for unemployed workers and increased costs for Americans with employer-sponsored health coverage 'should set in just in time' for the congressional elections in November, according to analyst predictions, the National Journal reports." (KaiserNetwork.org)

(Following items are in both editions of the BenefitsLink Newsletter)

Split Dollar Arrangements of Lay, Skilling Apparently Protected Despite Enron Bankruptcy
Excerpt: "Although Lay's and Skilling's agreements automatically terminated with Enron's bankruptcy or the executive's departure from the company, they included provisions that essentially allowed the executives to buy out Enron's interest in the policies within 60 days for the cost of premiums paid to that point." (MSNBC.com)

No SSNs Allowed? California Law Could Complicate HR, Benefits Administration
Excerpt: "The law, which becomes effective July 1, prevents businesses from posting or displaying Social Security numbers or printing Social Security numbers on identification cards. Businesses can print a Social Security number on documents mailed to a customer if the SSN is required by law or if the document is a form or application." (Society for Human Resource Management)

Analysis: IRS Proposes Payroll Taxes on Statutory Stock Option Holders
Excerpt: "[T]he IRS' new position on statutory stock options could result in new employment tax assessments on the more than 10 million employees currently participating in tax-favored statutory stock option plans. The guidance could require thousands of employers to comply with the new reporting, withholding and filing requirements." (Thompson Publishing Group)

Newly Posted or Renewed Job Openings - Post a Help Wanted Ad
Consulting Actuaries for Cozak-Davis
Sr Reg Support Officer for American Express
Pension Administrator 401(k) Defined Contribution for Davey Administration Group
401(k) Sales Support Managers for 401Konnect
Benefit Plan Administrator for TXU

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Copyright 2001 BenefitsLink.com, Inc., but you may freely distribute this email newsletter in whole. This newsletter is edited by David Rhett Baker, J.D.