MEMORANDUM NO. 1999-02
Stipulations - Proposed Social Security Regulations
| TO: | Commissioners, District Administrators, Self-Insureds, Insurance Carriers, Attorneys, Unions, and Advisory Board Members |
| FROM: | Jesse M. Frankl, Chairman |
| DATE: | February 19, 1999 |
| RE: | Stipulations - Proposed Social Security Regulations |
I am pleased to advise you that on February 11, 1999 the Social Security Administration announced that it was withdrawing its proposed regulations of September 4, 1997 which would have prohibited the allocation of a lump-sum settlement over the claimant’s life expectancy. Thus, the law governing this issue remains unchanged.
This decision was aided by many members of the Bar, the Congress and the Commission writing to the Social Security Administration and its Commissioner, Kenneth S. Apfel, expressing our concerns.