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Can contracts include a supplemental life insurance payment (supplemental to the TPAF provision)?

April 26, 2017contracts Life Insurance payment supplemental tpaf

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Can contracts include a supplemental life insurance payment (supplemental to the TPAF provision)?

1 Answer

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A27. No. The regulations specifically state that contracts cannot include payment for benefits that supplement or duplicate existing benefits that are otherwise available to the employee by operation of law or existing group plan (e.g. life insurance supplements the TPAF benefit) (3.1(e)(5)).