O'Reilly Automotive, Inc. Announces Amendment to ERISA Qualified Health Plans
19 Março 2014 - 6:12PM
O'Reilly Automotive, Inc. (the "Company" or "O'Reilly")
(Nasdaq:ORLY), a leading retailer in the automotive aftermarket
industry, announces that it is extending coverage under its fully
self-funded health plans to same-sex spouses of otherwise eligible
Team Members whose marriages are legally recognized under state law
at the time and location of their marriage.
"This change will allow us to begin offering same-sex spousal
coverage under our self-funded health plans. Several of our other
benefit plans already provide coverage to same-sex spouses, and
this change will extend this coverage to our self-funded health
plans. This change will enhance our ability to continue to
successfully attract, recruit and retain qualified Team Members,"
said Jonathan Andrews, the Company's Vice President of Human
Resources. "Our Team Members are the reason for our continued
success, and we view this change as a very positive addition to our
comprehensive benefit package."
The Company intends to implement the change to its self-funded
health plans on or before April 1, 2014.
On March 17, 2014, the Washington State Attorney General issued
a press release that he was investigating whether the Company
was in violation of Washington State law. "We were surprised
to see Monday's press release," commented Mark Merz, O'Reilly's
Director of External Reporting and Investor Relations. "Our
Legal department had been communicating with their office for the
last several weeks, had constructive dialogue and provided all of
the documents and information that we felt were relevant to the
issue. While we believe that O'Reilly has complied with all
applicable laws, we also believe we should review and evaluate not
only potential changes to the law, but, more importantly, evaluate
what is in the best interest of our customers, Team Members and
shareholders."
O'Reilly Automotive, Inc. was founded in 1957
by the O'Reilly family and is one of the largest specialty
retailers of automotive aftermarket parts, tools, supplies,
equipment and accessories in the United States, serving both the
do-it-yourself and professional service provider
markets. Visit the Company's website at www.oreillyauto.com
for additional information about O'Reilly, including access to
online shopping and current promotions, store locations, hours and
services, employment opportunities and other programs. As of
December 31, 2013, the Company operated 4,166 stores in 42
states.
CONTACT: Investor and Media Contacts
Mark Merz (417) 829-5878
O Reilly Automotive (NASDAQ:ORLY)
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