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06/06/2021

Can you inherit a pension?

Can you inherit a pension?

The way you take your pension will affect how you can leave it to your beneficiary (the person who inherits it) when you die. Most pension options allow anyone to inherit your pension – they don’t have to be your spouse or civil partner. Make sure your pension provider has up-to-date details of your beneficiary.

Can the government take your annuity?

Gould Asset Management, Claremont, Calif. The general answer is no, a creditor cannot seize or garnish your 401(k) assets. 401(k) plans are governed by a federal law known as ERISA (Employee Retirement Income Security Act of 1974). In general, the first $1 million in IRA assets is protected against a bankruptcy claim.

How do I update Fegli?

To enroll or increase your FEGLI coverage based on a life event, submit an SF 2817 to your human resources office within 60 days after the life event.

How do I get rid of Fegli?

If you are an employee, you can cancel or reduce your FEGLI life insurance at any time by submitting this form to your human resources office. If you want to reduce life insurance, sign only for the coverage you want to KEEP.

Can I sell my Fegli policy?

FEGLI policies, or Federal Employee Group Life Insurance Coverage, can be sold for cash through a viatical or life settlement.

How long does it take Fegli to pay out?

The Office of Federal Employees’ Group Life Insurance (OFEGLI) is an administrative unit of Metropolitan Life Insurance Company (MetLife) that pays claims for the FEGLI Program. Once a claim for benefits is fully documented, OFEGLI will generally pay it within 10 working days.

How do I file a Fegli claim?

You can use report a death online or you can call Retirement at 1-888-767-6738. If you believe the retiree was enrolled in FEGLI Life Insurance and that you are a beneficiary, you can download a claim form and mail it to OFEGLI, an office of MetLife.

How do I access my Fegli account?

There are three ways to access your FEGLI coverage information:

  1. Log on to Retirement Services Online to view and print a Verification of Life Insurance (VOLI).
  2. Email [email protected] to request that your VOLI be mailed to you.
  3. Call 1-888-767-6738 to request that your VOLI be mailed to you.

How do I check my Fegli?

Verify life insurance enrollment (FEGLI)

  1. Sign in to your online account. Go to OPM Retirement Services Online.
  2. Click Life Insurance in the menu to view your enrollment verification. We show you a summary of your personal information, coverage, and enrollment options.
  3. Click the save or print icon to download or print your enrollment verification.