* Mr. Speaker, the intent of H.R. 5993, the Securing America's Veterans Insurance Needs and Goals (SAVINGs) Act is to increase transparency and disclosure of the Servicemembers Group Life Insurance (SGLI) program. The intent is to increase financial counseling for beneficiaries and to allow Congress to play a better role in providing oversight and access of the program.
* It is not the intent of H.R. 5993 to have Congress weigh in on the legal question of whether or not the Department of Veterans Affairs has the authority to allow `retained asset accounts'. The language in H.R. 5993 is not intended to validate in any manner whether 'retained asset accounts' are authorized in section 1970(d) of title 38, United States Code.