GSIS RESOLUTION NO. 58, May 22, 2014

[ GSIS RESOLUTION NO. 58, May 22, 2014 ]

APPROVING AND CONFIRMING THE PAYMENT TO ALL PRE-NEED MEMORIAL PLANS WITH CERTIFICATE OF FULL PAYMENT

Adopted: 22 May 2014 Date Filed: 03 July 2014

WHEREAS, Board Resolution No. 182 dated 14 December 2012 approved the Enhanced Optional Exit Mechanism (EOEM) that will be offered to interested GSIS Memorial Planholders;

WHEREAS, there are Planholders who were issued Certificates of Full Payment (CFP) but whose accounts still appear to have unreconciled payments in the database;

WHEREAS, GSIS nonetheless can no longer dispute that these Memorial Planholders are fully paid based on the CFPs issued by GSIS which correspond with the copies of those CFPs on file in their individual policy envelopes;

WHEREAS, the reduction of the policies in force for memorial plans issued by GSIS would contribute to the long-term solution for the settlement of these plans;

RESOLVED, to APPROVED and CONFIRM the payment to all Pre-Need Memorial Plans with Certificates of Full Payment.