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Federal Employees Group Life Insurance: retirement benefit and retained asset account disclosures could be improved: report to congressional requester
Contributor(s): Office, U. S. Government Accountability (Author)

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 ISBN: 1974442780     ISBN-13: 9781974442782
Publisher: Createspace Independent Publishing Platform
OUR PRICE: $20.69  

Binding Type: Paperback
Published: August 2017
* Out of Print *
Additional Information
BISAC Categories:
- Reference | Research
Physical Information: 0.1" H x 8.5" W x 11" L (0.31 lbs) 50 pages
 
Descriptions, Reviews, Etc.
Publisher Description:
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 enrollees 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 claimshave raised questions about the programs operations.GAO was asked to describe and evaluate (1) the FEGLI programs structure and operations, (2) OPMs administration and oversight of the program, and (3) the use of RAAs in FEGLI claims payments. To address these objectives, GAO reviewed FEGLI law and regulations, interviewed OPM, Metropolitan Life Insurance Company (MetLife), and state insurance officials, and met with insurance industry experts.
 
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