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H.R. 5993 111th Congress House

SAVINGS Act of 2010

Official title: To amend title 38, United States Code, to ensure that beneficiaries of Servicemembers' Group Life Insurance receive financial counseling and disclosure informa… Show full official titleShow less

Official 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.

Introduced: July 30, 2010 See on congress.gov
Armed Forces and National Security Consumer affairsFinancial literacyInsurance industry and regulationInterest, dividends, interest rates
More subjectsShow fewer subjects
Life, casualty, property insuranceUser charges and feesVeterans' pensions and compensation
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This bill died when the 111th Congress ended
It never became law before the 111th Congress (2009–2010) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 14 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 29, 2010
Received in the Senate and Read twice and referred to the Committee on Veterans' Affairs.
Sep 29, 2010
Motion to reconsider laid on the table Agreed to without objection.
Sep 29, 2010
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 358 - 66 (Roll no. 552). (text: CR 9/28/2010 H7020-7021)
Sep 29, 2010
Considered as unfinished business. (consideration: CR H7258)
Sep 28, 2010
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Sep 28, 2010
DEBATE - The House proceeded with forty minutes of debate on H.R. 5993.
Sep 28, 2010
Considered under suspension of the rules. (consideration: CR H7020-7027)
Sep 28, 2010
Mr. Filner moved to suspend the rules and pass the bill, as amended.
Sep 28, 2010
Placed on the Union Calendar, Calendar No. 368.
Sep 28, 2010
Reported (Amended) by the Committee on Veterans' Affairs. H. Rept. 111-628.
Sep 15, 2010
Ordered to be Reported (Amended) by Voice Vote.
Sep 15, 2010
Committee Consideration and Mark-up Session Held.
Jul 30, 2010
Referred to the House Committee on Veterans' Affairs.
Jul 30, 2010
Introduced in House
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Sep 29, 2010 House · vote #552 On Motion to Suspend the Rules and Pass, as Amended Passed 358–66 See who voted →
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 Latest action September 29, 2010

Received in the Senate and Read twice and referred to the Committee on Veterans' Affairs.

 Plain-English summary Congressional Research Service

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.

 Related & companion bills 1
  • S 3718 SAVINGS Act of 2010
 Bill text 4 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 4
All 4 Democratic 3
D
Garamendi, John
California · Aug 10, 2010
 D
Titus, Dina
Nevada · Aug 10, 2010
Hall, John
· Jul 30, 2010
 D
Pingree, Chellie
Maine · Jul 30, 2010
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5993: SAVINGS Act of 2010. 111th Congress. Open America. https://openamerica.io/bill/111-HR-5993/
MLA
"H.R. 5993: SAVINGS Act of 2010." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-HR-5993/.
Bluebook (legal)
H.R. 5993, 111th Cong. (2026), https://openamerica.io/bill/111-HR-5993/.
Markdown link
[H.R. 5993: SAVINGS Act of 2010](https://openamerica.io/bill/111-HR-5993/)
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