Federal Employees¿ Group Life Insurance
Sub-Title:
Retirement Benefit and Retained Asset Account Disclosures Could be ImprovedAuthor:
Alicia Puente CackleyPublisher:
DIANE Publishing CompanyPublication Date:
05-01-2012ISBN:
9781422316405Pages:
45Subjects:
BusinessAvailable as:
Paperback, 9781422316405Description:
The Federal Employees¿ Group Life Insurance program (FEGLI), administered by the Office of Personnel Management (OPM), insures over 4 million federal employees and annuitants in the event of an enrollee¿s death. As a result, it is important that the program is clearly explained and properly overseen. However, some aspects of FEGLI, such as program disclosures and the use of retained asset accounts (RAA) -- financial accounts used to settle life insurance claims -- have raised questions about the program¿s operations. This report describes and evaluates: (1) the FEGLI program¿s structure and operations; (2) OPM¿s administration and oversight of the program; and (3) the use of RAAs in FEGLI claims payments. Illus. A print on demand report.
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