Kansas Department of Administration

99-P-031 Change in Uniform Premiums of Taxable Group Life Insurance

Posted on October 21, 2021 at 12:50 PM by Kansas Department of Administration

DATE: June 7, 1999
SUBJECT: Change in Uniform Premiums of Taxable Group Life Insurance
EFFECTIVE DATE: Effective Pay Period Beginning June 13, 1999
CONTACT: Payroll Services (785) 296-3146
APPROVAL: Approved by Dale Brunton
SUMMARY: New Uniform Premium Rates Used To Calculate the Cost of Group-Term Life Insurance Coverage In Excess of $50,000

As provided under Internal Revenue Code Section 79 the cost of group term life insurance coverage in excess of $50,000 provided to an employee by an employer is required to be included in employee federal and state taxable gross income. Employees covered by KPERS death and disability insurance being paid more than $1282.05 per biweekly pay cycle (based on 26 pay dates) are subject to the provisions of Code Section 79. Per recent changes in IRC 79 regulations the IRS Uniform Premium Table I will be modified to include a 25 to 29 age category and reduced uniform premiums for all other age groups. Effective with the pay period beginning June 13, 1999, paid July 9, 1999, the new table values will be as follows:

Monthly Cost per $1,000 in Excess of
$50,000 for Group Term Life Insurance
Under 25 $0.05
25-29 $0.06
30-34 $0.08
35-39 $0.09
40-44 $0.10
45-49 $0.15
50-54 $0.23
55-59 $0.43
60-64 $0.66
65-69 $1.27
70 and above $2.06

The calculation to determine an employee's age is based on the employee's attained age on the last day of the taxable year.

Board of Regents' Institutions operating under the Regents' Payroll system are responsible for implementing this change in their Payroll Systems effective with the pay period beginning June 13, 1999 paid July 9, 1999.



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