Bill summaries are authored by CRS.

Shown Here:
Passed Senate amended (10/07/1994)

FEGLI Living Benefits Act - Provides that a Federal employee enrolled in the Federal Employees Group Life Insurance (FEGLI) Program who has been diagnosed as terminally ill with a life expectancy of nine months or less may elect to receive a lump-sum payment of his or her basic insurance amount, as adjusted actuarially under regulations of the Office of Personnel Management (OPM).

Requires OPM to retain in the Employees Life Insurance Fund the portion of premium payments otherwise due as will, by the end of FY 1995, permanently reduce the contingency reserve by an amount equal to the amount by which payments from the Fund during FY 1995 exceed the payments that would have been paid had this Act not been enacted.

Provides for continuation of health benefits coverage for individuals enrolled in a plan administered by the Office of the Comptroller of the Currency or the Office of Thrift Supervision before the plan's termination on January 7, 1995. Requires transfer of terminated plan funds to the Employees Health Benefit Fund to cover such employees.