H.R. 5993 (111th): SAVINGS Act of 2010

Jul 30, 2010 (111th Congress, 2009–2010)
Died (Passed House)
Deborah Halvorson
Representative for Illinois's 11th congressional district
Read Text »
Last Updated
Sep 29, 2010
5 pages
Related Bills
S. 3718 (Related)
SAVINGS Act of 2010

Referred to Committee
Last Action: Aug 05, 2010


This bill was introduced in a previous session of Congress and was passed by the House on September 29, 2010 but was never passed by the Senate.

Introduced Jul 30, 2010
Referred to Committee Jul 30, 2010
Reported by Committee Sep 15, 2010
Passed House Sep 29, 2010
Full Title

To amend title 38, United States Code, to ensure that beneficiaries of Servicemembers' Group Life Insurance receive financial counseling and disclosure information regarding life insurance payments, and for other purposes.


No summaries available.

On Motion to Suspend the Rules and Pass, as Amended
Sep 29, 2010 3:54 p.m.
Passed 358/66

8 cosponsors (8D) (show)

House Veterans' Affairs

Senate Veterans' Affairs

The committee chair determines whether a bill will move past the committee stage.

Primary Source

THOMAS.gov (The Library of Congress)

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H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

9/29/2010--Passed House amended.
Securing America's Veterans Insurance Needs and Goals Act of 2010 or SAVINGS Act of 2010 - Requires a life insurance company, in order to provide life insurance for veterans under the Servicemembers' Group Life Insurance program, to:
(1) provide financial counseling to the beneficiary or other person entitled to payment upon the establishment of a valid claim; and
(2) include full disclosure with respect to such payment, including specified information with respect to interest payable and the various methods of receiving payment(s).
Prohibits a company from charging fees to a payee for maintaining such payment with the company.
Directs the Secretary of Veterans Affairs (VA) to include in each annual performance and accountability report submitted to Congress information concerning individuals receiving the counseling and disclosures required under this Act.
Requires: (1) the Director of the VA's Office of Survivor Assistance to attend each meeting of the Advisory Council on Servicemembers' Group Life Insurance; and (2) the Secretary to ensure that such Office has the necessary personnel to provide information on the receipt of such counseling.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

No summary available.

House Democratic Caucus Summary

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