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104863 1 (1978-01-31)

handle is hein.gao/gaobadxxn0001 and id is 1 raw text is: DCCUMENT FESUME 04863 - [B03852221 Chanqes to the Federal Employees Group Life Insurance Program Are Needed. January XI, 1978. 13 pp. Testimony before the 'ouse Committee on Post Oftice and Civil Service: Compensatioi and Employee Benefi s Subcommittee; by H. L. Krieqer, Dirctor, Federal Personnel and Compensation Div. Contact: Federal Personnel and Compensation Div. Organization Concerned: Civil Service Commission. Conqrezsional Relevance: House Committee on Post Office and Civil Service: Compensation and Employee Benefits Su bco emit tee. Life insurance and other death benefit programs available to Federal employees and retirees were ccmparfed with similar programs provided to both public and private non-Federal personnel. Life insurance programs were found to be superior in the non-Federal sector. In ganeral, however, survivors benefits under the civil service retirement system are superior tc benefi-s in the non-Federal sector from employer retirement proqrams and social &qcdrity combined. Considering lifa insurance and retirement programs together, total death benetits are generally comparablW except for young employees and retirees over aqe 65 where soqjal security puts the non-Federal sector ahead. Federal employees also pay more for their henetiti than their non-Federal coiinterparts. Changes to tne Federal Employees Group life Insurance (FEGLI) program are needed if it is to reaf-i a viable part .ol the Federal death benetits package. The premiums, t., thirds of which are paid by the explcyees, are much hiqher than those of non-Federal programs, and the benefits structure is inequittole in many resrects. FEGLI must be made more attractive to younger employees and more equitable for all personnel. CIanqes to the funding concept and different allocation o costs between employees and the Government could reduce emnloyee premi4s. Limited savings could Lesult if the law recognized that FEGLI is, ir effect, a self-insured program. (rR S)

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