<p>SANTA ANA, Calif. – With the problem of identity theft spreading, legislators here have created their own solution. Effective July 1, employees can no longer be identified by their social security number. Approved last year as part of SB168, the restriction bars businesses from publicly posting or displaying a social security number or printing an individual's social security number on any materials that are sent by mail. With the exception of mailed payroll checks, the rule will apply to company mailings about retirement accounts, dependent-care programs, pension benefits and employee-assistance programs. In addition financial institutions and insurance companies are prohibited from using social security numbers in any correspondence. The rule is only applicable to new employees but existing employees must be given the choice of opting out.</p>

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.