Subcommittee on Disability Assistance and Memorial Affairs Assesses VBA Fiduciary Program
 

Washington, DC — Today the Subcommittee on Disability Assistance and Memorial Affairs held an oversight hearing on the Veterans Benefits Administration’s (VBA) fiduciary program. Testimony was received on VBA’s implementation of Title 5 of Public Law 108-454, a law to improve fiduciary accountability and enhance protections for the beneficiary.

A fiduciary is a person or legal entity (such as a bank) charged with the duty of managing the estate of an incompetent beneficiary. VA-supervised fiduciaries include both court-appointed and federal fiduciaries.

Chairman Jeff Miller (R-Fla.) also reviewed the Field Examination Activity within the Compensation and Pension Service at VBA. The Fiduciary Field Examine Activity is responsible for managing the appointment of fiduciaries and overseeing that payments to fiduciaries are used appropriately to benefit the veteran or survivor.

“It is important that VBA ensure beneficiaries who are no longer capable of handling their compensation have an honest and trustworthy fiduciary; if they do not receive their benefits, neither the veteran’s or the VA’s interests are served,” said Subcommittee on Disability Assistance and Memorial Affairs Chairman Miller.

On June 20, 2006, the Subcommittee on Disability Assistance and Memorial Affairs will be holding a joint hearing with the Subcommittee on Economic Opportunity on the recent VA data theft and current cyber security procedures at VBA. Included in that discussion will be an examination of security measures to ensure fiduciaries are protecting sensitive client information.

Ms. Renée L. Szybala, Director of the Compensation and Pension Service at the VBA, testified on behalf of the administration. Ms. Szybala was accompanied by Mrs. Patricia K. Knapp, the Fiduciary Chief at VBA.