CUNA Regulatory Comment Call
May 24, 1999
Two Separate Proposals:
EEOC & Flood Insurance
This Regulatory Comment Call covers two short proposed rules:
- A rule from the Equal Employment Opportunity Commission (EEOC) that would outline additional restrictions that employers must meet when they ask older workers to waive their rights under the Age Discrimination in Employment Act (ADEA). Comments are due no later than June 22, 1999, but please have your comments to CUNA by June 17.
- A rule from the Department of Housing and Urban Development (HUD) that would clarify that it is the location of the home and any related structure or equipment that determines whether the flood hazard exposure and National Flood Insurance (NFI) purchase requirements apply. Comments are due no later than June 29, 1999, but please have your comments to CUNA by June 24.
Please feel free to fax your responses to CUNA at 202-371-8240; e-mail them to CUNA's Assistant General Counsel Jeffrey Bloch at email@example.com; or mail them to Jeffrey in c/o CUNA's Regulatory Advocacy Department, 805 15th Street, NW, Suite 300, Washington, DC 20005. You may also contact us if you would like a copy of the proposed rules or you may access them by clicking on EEOC or HUD.
BRIEF DESCRIPTION OF THE RULES
EEOC Proposed Rule
This proposed rule incorporates a 1998 U.S. Supreme Court decision that held that an employee may assert claims under the ADEA without being required to return or "tender back" severance or other benefits given to him or her in exchange for an agreement to not bring such claims. The rule also includes the following provisions:
- Employers may not avoid the "tender back" rule by requiring employees to agree to a condition that would limit the ability to make claims under the ADEA.
- Under certain circumstances, an employer may seek reimbursement for any amount paid to the employee in order to secure the agreement.
- If one or more employees successfully challenges an agreement, the employer must still honor the agreement as it applies to other employees.
Flood Insurance Rule
This proposed rule would clarify that it is the location of the home and any related structure or equipment, and not simply any portion of the property, that determines whether the NFI purchase requirements apply. To be considered "related," the structure or equipment must be essential to the value of the property and subject to flood damage.
If the home and related structure or equipment are located within the 100-year floodplain, the proposed rule would permit mortgagees to submit an Elevation Certificate (EC) instead of a final Letter of Map Amendment (LOMA) or a final Letter of Map Revision. The EC alternative is intended to provide more flexibility and could have less impact on the floodplain than filling to the 100-year floodplain elevation, as may be required for a LOMA. The EC would document that the lowest floor (including the basement) is built at or above the 100-year elevation in compliance with the NFI Program.
Eric Richard General Counsel (202) 508-6742 firstname.lastname@example.org |
Mary Mitchell Dunn SVP & Associate General Counsel (202) 508-6736 email@example.com
Jeffrey Bloch Assistant General Counsel (202) 508-6732 firstname.lastname@example.org
Catherine Orr Senior Regulatory Counsel (202) 508-6743 email@example.com