Austrian Social Insurance Payments

Austrian Social Insurance Payments. A. These payments are defined as follows: 1. The nationwide class action lawsuit, Bondy v. Sullivan, involved Austrian social insurance payments based, in whole or in part, on wage credits under Paragraphs 500-506 of the Austrian General Social Insurance Act, which grant credits to person who suffered a loss (imprisoned, unemployed, forced to flee Austria from March 1933 to May 1945 for political, religious or ethnic reasons). B. These payments are treated as follows: 1. Credits authorized under paragraphs 500-506 of the Austrian General Social Insurance Act are excluded as income. 2. Effective July 2004, interest earned on excluded Austrian social insurance payments retained is excluded from income. 3. Austrian social insurance payments not based on Paragraphs 500-506 are counted as income.