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NU Online News Service, Dec. 12, 10:04 a.m. – Erie Family Life Insurance Company, Erie, Pa., says it is recognizing $16.8 million in investment losses.
The recent stock market slump and the problems at Enron Corp., Houston, have hurt the value of Erie Family investments, the company says.
The IRS still has the authority to impose fines on nonfilers.
The law affects access to policy loans for insureds who are getting LTC-related accelerated death benefits.
The latest move by an Iowa pension group comes about a week after investment advisor Ken Fisher made lewd remarks at an industry event.
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