Menu Search Account

LegiStorm

Get LegiStorm App Visit Product Demo Website
» Get LegiStorm App
» Get LegiStorm Pro Free Demo

Separation Pay: FSLIC Managing Office Did Not Receive Unwarranted Payments

  Premium   Download PDF Now (5 pages)
Report Type Reports and Testimonies
Report Date Nov. 14, 1989
Report No. GGD-90-23
Subject
Summary:

Pursuant to a congressional request, GAO reviewed the Federal Savings and Loan Corporation's (FSLIC) termination of a managing officer's employment in Little Rock, Arkansas, focusing on an allegation that the former manager would receive a large amount of severance pay or other benefits.

GAO found that: (1) the only payment FSLIC made to the former employee was for accrued unpaid salary, which complied with FSLIC employment policies; and (2) although the former employee requested payment of $5,608.75 in accrued unused vacation leave, FSLIC did not plan to pay her because Arkansas state law did not require payment of accrued unused vacation leave.

« Return to search Government Accountability Office reports