Alternative Fuels:

Synthetic Fuels Corporation Officer Separation Benefits

RCED-86-199FS: Published: Jul 30, 1986. Publicly Released: Sep 11, 1986.

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Pursuant to a congressional request, GAO provided information on the U.S. Synthetic Fuels Corporation's (SFC) board of directors and officers to determine whether their separation benefits would change after SFC abolition.

GAO found that: (1) the chairman, vice chairman, and the other nine officers received SFC policy benefits, while the three directors received no benefits; (2) the officers' benefits were the same as other SFC employees', except that the officers' liability insurance provided extensions for up to 3 years; and (3) the benefits for both officers and other employees included severance pay, unused earned vacation pay, funds from liquidated retirement and tax-deferred savings accounts, eligibility for unemployment compensation, and life, health, and dental insurance. The 11 officers received a total of $471,441 in compensation and other benefits.

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