§8712 — Title 5 Government Organization and Employees | U.S. Code

Summary

A policy bought under this law must send a report to the Office of Personnel Management no later than 90 days after each policy year ends. On a form OPM approves, the report must show the premiums collected since the policy began, the total charges for deaths and other claims, and the insurer’s expense and risk charges for that year.

Title 5, §8712

Government Organization and Employees — Source: USLM XML via OLRC

A policy purchased under this chapter shall provide for an accounting to the Office of Personnel Management not later than 90 days after the end of each policy year. The accounting shall set forth, in a form approved by the Office—

(1)the amounts of premiums actually accrued under the policy from its date of issue to the end of the policy year;

(2)the total of all mortality and other claim charges incurred for that period; and

(3)the amounts of the insurers’ expense and risk charges for that period.

Notes & Related Subsidiaries

Historical and Revision Notes

DerivationU.S. CodeRevised Statutes andStatutes at Large 5 U.S.C. 2097(d).Aug. 17, 1954, ch. 752, § 8(d), 68 Stat. 741. The words “A policy purchased under this chapter” are substituted for “Each such policy” for clarity. The word “insurance”, preceding the word “company”, is omitted as unnecessary; and the word “company” is substituted for “company or companies” on authority of 1 U.S.C. 1. The words “Employees’ Life Insurance Fund” are substituted for “fund”. Standard changes are made to conform with the definitions applicable and the style of this title as outlined in the preface to the report.

Editorial Notes

Amendments

1978—Pub. L. 95–454 substituted “Office of Personnel Management” and “Office” for “Civil Service Commission” and “Commission”, respectively.

Statutory Notes and Related Subsidiaries

Effective Date

of 1978 AmendmentAmendment by Pub. L. 95–454 effective 90 days after Oct. 13, 1978, see section 907 of Pub. L. 95–454, set out as a note under section 1101 of this title.

§8712 Annual Accounting; Special Contingency Reserve