grandfather clause

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  • noun

Words related to grandfather clause

an exemption based on circumstances existing prior to the adoption of some policy

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AMHCA recommended creation of a time-limited grandfather provision based on the new Tricare Certified Mental Health Counselor (TCMHC) regulations, which permit a transition period lasting five years.
The rule amendments will take effect 90 days after publication in the Federal Register, but investment advisers may rely on the grandfather provisions before then.
This transition rule effectively provided transition relief, in the form of a grandfather provision, to transactions that were clearly in progress as of the enactment date of the rule change and thus were likely structured in reliance on the old rules.
It's unclear whether this grandfather provision would include a commitment to make an extension of credit entered into before July 30, 2002, even if funds are not transferred until after such date.
Furthermore, the language of the prohibition, the grandfather provision and other exceptions to the prohibition, and the prohibition's potential impact on other perquisites and programs also raise many questions of interpretation and application.
In 1971, the Texas Legislature created its first major clean air law, which included a grandfather provision exempting existing plants and plants under construction from the requirement to reduce emissions or obtain air permits.
We recommend that existing REITs consider forming a non-qualified REIT subsidiary to conduct third party management or non-customary services (and, perhaps, form a separate non-qualified REIT subsidiary for each service) to take advantage of the grandfather provision.
However, in order not to disadvantage those employees who were close to retirement in 1986 and who intended to take advantage of the existing early retirement subsidies, a grandfather provision was included to guarantee them a retirement benefit at least equal to what they would have received under the final-aver-age-pay plan.
For example, the penalty-free withdrawal of principal, while leaving earnings in the contract, is retained under a grandfather provision.
companies initially hoped they could preserve much of their existing group health plans under the new grandfather provision, a new survey by Hewitt Associates, a global human resources consulting and outsourcing company, shows that almost all now believe they will not.
AMHCA is seeking a more inclusive grandfather provision that will enable all demonstrably well-qualified practitioners to participate in the program.
July 14, 2011 /PRNewswire-USNewswire/ -- The Pennsylvania State Massage Therapy Licensing Board is reminding existing massage therapists of the approaching December deadline to become licensed under the grandfather provision of state law.
That promise, repeated from podiums across the country as the candidate and then president stumped for support for his health care agenda, took shape in the grandfather provision, a key element for employer-based health care plans in the legislation that eventually emerged from Congress.
To be able to keep the speedway going under the grandfather provision, the owners would have to show that the facility is no larger now than it was in 1972, Howe said.
We solved that with the grandfather provision for the exam.