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Survivors Benefit (re: Retirement)?...

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Nick Fuhs
Member
Username: Nickfuhs

Post Number: 11
Registered: 07-2007
Posted From: 96.227.168.8
Posted on Tuesday, April 27, 2010 - 01:41 pm:   

As far as I know, the Social security offset for SBP went away in 2008 see http://www.ng.mil/news/archives/2009/03/030509-Retirement.aspx.

I also believe that your husband would have a year from the date of acquiring a dependent to change his coverage type - from spouse to spouse with children , for example. He might not be able to change the coverage level (the percentage of pay covered) .

We all have vague recollections of how SBP works and many have strong opinions on the subject so be sure to check everything with an official source in your DH's unit.
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Cherry C.
Senior Member
Username: Cherry

Post Number: 6277
Registered: 06-2003
Posted From: 71.163.18.160
Posted on Tuesday, April 27, 2010 - 12:42 am:   

Amy, what you've discovered (about the inflexibility of the system) seems to ME to suggest that many people might be better off just buying a commercial life insurance policy or annuity.
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Amy S
Intermediate Member
Username: Aims1111

Post Number: 54
Registered: 08-2008
Posted From: 71.142.52.23
Posted on Monday, April 26, 2010 - 06:39 pm:   

Cherry,
It appears that it is possible, but only within a year or so after he actually receives the retirement @ age 60 (if I read it right). However, if we choose to go with Option A and he dies before age 60 then we can not change it after his death (makes sense). If we go with one of the other options and change it later we loose the amount we paid for it. If that makes any sense at all.

What I find a little disheartening is if a retiree went with Option A and decided to gamble on it and one day adopts his grandchildren then he can not change it to another Option. Seems kinda unfair especially at the time if there were no reason to think that grandchildren would become dependents.
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Cherry C.
Senior Member
Username: Cherry

Post Number: 6274
Registered: 06-2003
Posted From: 71.163.18.160
Posted on Monday, April 26, 2010 - 11:13 am:   

I still wonder -- can he make an election now (as is apparently required) BUT change it later, BEFORE he actually retires and any money changes hands? It seems to me that any election taken now is just a guess and should not be set in cement, because situations can change radically by the time retirement actually occurs.
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Amy S
Intermediate Member
Username: Aims1111

Post Number: 52
Registered: 08-2008
Posted From: 71.142.52.23
Posted on Monday, April 26, 2010 - 02:11 am:   

So I printed out the NG retirement thing on-line (50+ pages) and have been reading the presentation that they provide for pre-retirement (which is supposed to be completed at least a year before retirement!) and I have a few more questions.

I did the calculator to see what DHs retirement pay would be if he retired now. It calculates Basic SBP Cost, RCSBP Cost, Reservist Cost Factor, etc. Okay, got that. At the bottom it mentions that is just an estimate and for more information on the annuity % amount that I need to refer to the Social Security Offset. I read that and just dont get it. Could someone tell me in laymen terms what the SS offset is?

Also according to the calculations, IF we picked Option B (Deferred Annuity) or C (Immediate Annuity) then the difference is literally $5.00. So why would anyone pick to wait to receive an annuity when they could receive it right away? Am I missing something here? I thought I read somewhere that it can increase every 5(?) years or so?

I am frustrated for not knowing that this had to be completed when he got his 20 year letter. I thought we had time until he actually retired. I cant tell you how much I appreciate all your responses. :-)
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Roger Johnson
Advanced Member
Username: Rwjohn6

Post Number: 321
Registered: 05-2008
Posted From: 64.12.116.208
Posted on Saturday, April 24, 2010 - 05:51 pm:   

You do not forfeit you retired pay. As stated you must apply at age 60 the package does not come automaticly as if you were in retired reserve.

Roger in Fl
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richard latshaw
Member
Username: Mayor

Post Number: 25
Registered: 05-2007
Posted From: 67.165.36.53
Posted on Saturday, April 24, 2010 - 03:59 pm:   

Mervin, You can volunteer as I did in 1990 for DS/DS and served 9 months.I was 63 at the time. Also I think you must be in the Retired Reserve to be eligible for retirement pay. Taking a discharge you will forfeit retied pay.
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Mervin J LeBlanc
Senior Member
Username: Merv

Post Number: 477
Registered: 01-2005
Posted From: 74.248.126.191
Posted on Friday, April 23, 2010 - 08:20 pm:   

Nick - One of the benfits of being transferred to the Retired Reserves or being outright discharged is that you remain in the military data base, and somewhere around your 59th birthdate you are automatically sent a request for military retirement packet. If you elect to be discharged completely, you have to take action on your own to get a retirement packet to submit. I'm sure some folks who have their 20 year letter of eligibility are concerned about being called back up if they are transferred to the Retired Reserve. I never knew, or heard of anyone being called back to duty from the retired reserves, but in my case it didn't matter because I was already over 60 when I elected to retire, and just filled out my retirement packet prior to my retirement date and became eligible for benefits the next day.
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Nick Fuhs
Member
Username: Nickfuhs

Post Number: 9
Registered: 07-2007
Posted From: 68.37.31.107
Posted on Thursday, April 22, 2010 - 10:24 pm:   

You may want to have a look at the USAA site below and/or talk with someone from the USAA advice center.

https://www.usaa.com/inet/ent_utils/McStaticPages?key=ret_guard_reserve_ret_inco me

There is also an 'Army National Guard information Guide on Non-regular retirement' - a link to this word document is found at the bottom of

http://www.armyg1.army.mil/rso/

Reading this document, it appears that Guard members are issued a Notification of Eligibility for Retired Pay at Age 60 (NOE) when they have acquired 20 years credit for retirement purposes and are required to make a option for RC-SBP at that time as well as complete other paperwork. One of these SBP options, for example, would pay survivor benefits at the time of the service member's death regardless of the member's age while another would not pay until after the deceased member would have turned 60. There are other options as well.

The USAA site makes mention of a financial advantage to moving to the retired reserve rather than being discharged once your DH is retirement eligible but not yet 60 - apparently in the retired reserve, longevity credit is earned and the pay table used to calculate retired pay under the High 36 program would be the one current when DH turns 60 rather than the one in effect at discharge.
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John R Garrison
Senior Member
Username: Majorg

Post Number: 2538
Registered: 02-2006
Posted From: 208.81.157.86
Posted on Thursday, April 22, 2010 - 09:30 pm:   

Bill: You are very correct...SBP and RCSBP are two different animals! I missed that...my bad. If I read the RCSBP site correctly, they still off-set the RCSBP at age 65 by SS and from the time the member retires until age 60, they have to send in a premium for the RCSBC...even though they are not drawing retirement! Wow!

DeeDee: Amy's husband has to choose between deployment or retirement by the end of the year. She is just gathering info to make a sound decision.

Happy travels, John
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Bill Ward
Senior Member
Username: Dualrated2

Post Number: 703
Registered: 08-2003
Posted From: 76.169.178.107
Posted on Thursday, April 22, 2010 - 09:15 pm:   

I don't believe the age 55 provision applies to RCSBP John.
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DeeDee Clarke
Senior Member
Username: Deedee

Post Number: 617
Registered: 05-2004
Posted From: 72.181.14.46
Posted on Thursday, April 22, 2010 - 08:47 pm:   

Amy - SBP is only for retirement. If he deploys, he won't be retired, so deployment shouldn't figure into your decision.
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John R Garrison
Senior Member
Username: Majorg

Post Number: 2537
Registered: 02-2006
Posted From: 208.81.157.86
Posted on Thursday, April 22, 2010 - 08:07 pm:   

Amy:

Actually the remarriage issue for SPB (according to their FAQs) is as follows:

Question 7. If Iím receiving an SBP annuity and I remarry, is the SBP annuity lost forever?

Answer: No. If remarriage occurs before age 55, the annuity is suspended and can be reinstated if the remarriage ends by death or divorce. If remarriage occurs at age 55 or older, the annuity continues uninterrupted for the duration of the spouseís life.

A much better deal than was available when I retired. John
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ed williamson
Advanced Member
Username: Regnav

Post Number: 153
Registered: 07-2009
Posted From: 76.114.109.206
Posted on Thursday, April 22, 2010 - 07:55 pm:   

Just a little off topic, but SS payments are part of retirement planning.

Anyway, I just recently learned something that everyone else may already know but I'll toss it out anyway.

Active duty military service from 1957 to 1972 provides a $300.00 quarterly addition to military pay. This credit for retirement, or separation, after 1968 is (according to my local SS office) automatically included. Prior to 1968 a request was required.

A visit to your local office, with DD214 in hand, will tell you if your service was credited.

I was told mine had been credited, but being a bit skeptical, I asked for documentation. It was like pulling teeth but I was finally given a printout showing my earnings from 1955 (was told prior years not available)onward and that I had been given the credit. Was also told it did not effect my SS one way or the other.

Those of us who served prior to 1957 did not have social security withheld but are entitled to an amount, of who knows how much, to be credited to our SS earnings.

I dont' think any of this will increase monthly SS payments, but perhaps worth checking on.

Ed
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Cherry C.
Senior Member
Username: Cherry

Post Number: 6261
Registered: 06-2003
Posted From: 71.163.18.160
Posted on Thursday, April 22, 2010 - 07:25 pm:   

Question: Can he make a SBP election now, but change it later IF he decides to, when he actually puts in for retirement?

If that is the case, I see no harm in electing the maximum SBP now, and then re-assessing the situation at the time of his real retirement. At that point you could look at likely longevity for both of you (based on family health histories), current health of both of you, number of years before retirement checks start, your ability to earn should you be widowed, other responsibilities (such as children to educate) and so on in order to make a rational assessment.

(Many members here retired when the SBP was actuarily stacked against us, and therefore declined it. My husband and I [1980 retirement from AD] are in that category and still believe we made the right choice. Some people who declined the SBP bought an annuity or a life insurance policy from a civilian insuror with the premiums being about the same amount that would have been docked monthly from their pension, and they say they came out way ahead. In addition, why not check with any military associations to which you belong or for which you are eligible, such as Navy Mutual Aid and its counterparts in the other services, because it is very likely that they may have programs that make more sense monetarily than the SBP does.)

In any case, since you say he is not going to get a large retirement check because of being National Guard, then the SBP choice may not matter much!

IMO The REAL retirement benefits to look forward to--regardless of how much or how little pay he gets--are medical (Tricare for Life, Express scripts), PX, commissary, and space-a travel.
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Amy S
Intermediate Member
Username: Aims1111

Post Number: 51
Registered: 08-2008
Posted From: 71.142.54.66
Posted on Thursday, April 22, 2010 - 04:02 pm:   

So I have been reading up on SBP/retirement that my husband received finally. Its only a little packet and I am a little more confused now. ha ha Your posts are helping me though and give me food for thought when I meet with the Retirement person at OTAG this week.

John, According to the packet we received if DH were to die and I remarry, I do NOT receive anything. So it is still the same as before. However if I divorce that person or he dies then hubbys SBP could be reinstated.

We already have life insurance on both of us through USAA (it was one of the first things we did when we became parents). DH also receives some VA disability.

According to my calculations, hubbys retirement pay is not much, so if we opt for the SBP it may be a huge % (hubby is NG).

I just dont want to make a mistake here and regret it later. I wish I had more time. I also dont understand why we have to pick now considering hubby is still in the military. Hubby is slated to deploy at the end of this year if he doesnt retire so it is making this SBP more important to choose the right thing (if God forbid something should happen during deployment).

Keep the discussions going, I am writing notes so that I may ask these questions this week :-)
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Mike Jarvis
Advanced Member
Username: Gator

Post Number: 374
Registered: 12-2005
Posted From: 99.172.138.126
Posted on Sunday, April 18, 2010 - 09:07 pm:   

Ken L et all:

actually if your rated by the VA, and opt for their insurance, which can be viewed at the following site:
http://www.insurance.va.gov/inForceGliSite/GLIhandbook/glibooklet2010.pdf

The linked page covers alot of information and is current as of January 2010. SDVI is what is available for service connected veterans.

VGLI may or may not be for everyone as it increases in the amount you pay every 5 years!

Semper Fi!

Mike
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FHYL
Advanced Member
Username: Fhyl

Post Number: 357
Registered: 11-2008
Posted From: 68.68.131.47
Posted on Sunday, April 18, 2010 - 02:52 pm:   

...suggestion, when looking to change insurance policies (life or any other), before opting out of any ploicy, get the replacement policy first. That way there are no gaps in your coverage and Murphy won't get the chance to make a mess of your life.

Experience speaking: I was changing to two life insurance policies to provided the same total covereage as my single policy for a lower total premium. During the policy transition, one of two insurance company's pre-policy exam detected cancer and subsequently would not issue me a policy.

Luckly the first company had already issued me a policy and I hadn't cancelled my original policy. So I had my 1-1/2 times what I originally needed.

Now, five years after surgery and five years of a cancer free record, I am considered cured (ie, insurance companies will now sell me policies). But between the time of detecting the cancer and being cured they would not sell me a policy.

Had I cancelled my original policy before getting the replacements, I (my wife) would have had to endure five years of insufficient coverage.
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Nick Fuhs
Member
Username: Nickfuhs

Post Number: 7
Registered: 07-2007
Posted From: 68.37.29.167
Posted on Saturday, April 17, 2010 - 10:37 pm:   

My purpose, as Mr Brown noted, was to alert those who opt out of SBP to buy the life insurance policy immediately.

I am now 62 and the cancer has been gone for a long time.
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John Civick
Advanced Member
Username: John6412

Post Number: 253
Registered: 07-2008
Posted From: 32.168.231.32
Posted on Saturday, April 17, 2010 - 07:12 pm:   

Nick, I believe that during open season you can still obtain SBP. The only catch is you gotta live for two years before the wife can claim it otherwise only the premiums are returned. Also the premium wil be higher since you didn't take out SBP when you retired. Sorry to hear about the Ca but there are worse things.
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Ken Larson
Advanced Member
Username: Wyldkarma

Post Number: 174
Registered: 10-2005
Posted From: 67.9.181.239
Posted on Saturday, April 17, 2010 - 06:48 pm:   

This might not help too many folks, but if you think that you might have any type of disability claim or if you believe your current VA disability has worsened then file with the VA. Even if it comes back only 10% you will be given the option to sign back up for SGLI and a greatly reduced cost.
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william brown
Senior Member
Username: Brown9bill

Post Number: 623
Registered: 12-2006
Posted From: 108.0.100.243
Posted on Saturday, April 17, 2010 - 06:28 pm:   

Nick: The key when you opt out of SBP was to buy sufficient life insurance at that time to cover your decision. Some companies were and still are offering term life insurance for a number of years at the same monthly rate for the term of the policy. Hopefully, your posting will alert those who opt out of SBP to buy the life insurance policy immediately. Wishing you well with your bout with cancer. Happy Travels.
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Nick Fuhs
New member
Username: Nickfuhs

Post Number: 5
Registered: 07-2007
Posted From: 71.185.103.156
Posted on Saturday, April 17, 2010 - 06:06 pm:   

I retired at age 42, did the math, and figured I would buy sufficient life insurance later to protect my wife and daughter. Opted out of SBP. At 47, got cancer and am not able to buy any significant life insurance.
If you need to protect your family financially after you retire, have a plan in place and paid for before you decline SBP.
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John D.
Moderator
Username: John_d

Post Number: 4302
Registered: 06-2003
Posted From: 95.208.80.143
Posted on Friday, April 16, 2010 - 06:42 pm:   

Betty, yes. The Social Security Offset was eliminated in 2008.
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Betty Sellers
Intermediate Member
Username: Bssellers

Post Number: 75
Registered: 12-2004
Posted From: 205.188.116.208
Posted on Friday, April 16, 2010 - 06:01 pm:   

If the spouse gets 55% of the serviceman's retirement (if the serviceman dies after retirement) pay per month, does the spouse get any social security benefits too?
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Mike Jarvis
Advanced Member
Username: Gator

Post Number: 371
Registered: 12-2005
Posted From: 99.1.99.82
Posted on Thursday, April 08, 2010 - 02:12 pm:   

I retired in 2006, and elected SBP at 55%. My spouse is 12 years younger than I am, so time is against me. I figured to have something left for her when I go HQ in the sky.

For NG/Reserves if they gave 55% for their SBP it would be almost all of their retired check as most do not have a significant amount of active duty time.

As it's been said, play out the scenerio's and see what is best for your family.

Semper Fi!

Mike
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John R Garrison
Senior Member
Username: Majorg

Post Number: 2491
Registered: 02-2006
Posted From: 208.81.157.86
Posted on Friday, April 02, 2010 - 02:54 pm:   

When I retired, the SBP program had two features I really had a problem with: 1. The 55% of retired pay turned into 35% at spouse's age 62 (the Social Security Offset) and, 2. if she remarried, the % went to zero. I believe that both provisions have changed.

My choice then was to elect SBP for my children (55% until the youngest was 18 (23 still in school)) for a fraction of the cost (>$10/mo). To further protect my spouse, I supplemented that with a Universal Life Policy at a set cost of what SBP initial premium was ($175/mo for me). I have used (and repaid) the policy value (essentially borrowing at a 1.5% rate) to fund three cars over the past 20+ years.

The down side is that I only have 14.5 years (age 78) until the premiums for the life policy will exceed the value + my monthly premium..ie I'd better leave this world prior to age 78 if I want my spouse to collect from the policy!

IMHO, the best features of the SBP are the 1. No physical(pre-existing conditions) clause (really important if you are not in the best of health) and 2. COLAs (my fixed value Universal Life Policy isn't worth what it used to be twenty years ago!) .

Is SBP right for you? That depends on your individual situation. Play out different senerios. Determine what your priorities and other resources are. Then make an informed decision and don't look back.

Happy travels, John
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Jim Freeman
Intermediate Member
Username: Jfreeman

Post Number: 108
Registered: 12-2006
Posted From: 72.89.66.92
Posted on Friday, April 02, 2010 - 01:35 pm:   

OOPS, sorry! I guess the first sentence applies to me as well.
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FHYL
Advanced Member
Username: Fhyl

Post Number: 340
Registered: 11-2008
Posted From: 71.171.122.110
Posted on Friday, April 02, 2010 - 10:00 am:   

Survivors Benefit Plan = SBP.
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Jim Freeman
Intermediate Member
Username: Jfreeman

Post Number: 107
Registered: 12-2006
Posted From: 72.89.66.92
Posted on Friday, April 02, 2010 - 03:44 am:   

I'm always amazed when I hear or read discussions of military folks and their retirement benefits. If there is a group of people out there that knows less about their retirement I haven't found them yet.

AMY S:
Your husband and you have three choices from which to decide how you you want to participate in SPB.

PLAN A. Your husband dies and you get nothing. This will give you the most money at retirement age.

PLAN B. Your husband dies tomorrow and you start getting checks for the rest of your life. I believe the % is 35% of what he would have received at age 60.

PLAN C. Your husband dies tomorrow and at the date he would have turned 60 you start getting checks for 55% of what his full benefit would have been.

Keep in mind that the fee for SPB is 6.5%. It can be a little less but for most folks with a little rank that's what it works out to be. Also that fee is pre tax money and any life insurance is after tax money. The check you get has a COLA attached. This year retirees didn't get a COLA but that was a first.

I suggest that you get a copy of the National Guard Almanac, available online or at any PX/BX, and study your options carefully. SPB is a pretty good deal in spite of what others might think. Read up and decide.
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william brown
Senior Member
Username: Brown9bill

Post Number: 609
Registered: 12-2006
Posted From: 108.0.100.243
Posted on Wednesday, March 31, 2010 - 08:18 pm:   

JEB: I elected the same option as you did and brought a life insurance policy to cover my wife if I died a few years after retirement. I would still be paying into SBP if I made that election, while the life insurance policy was 1/3 the cost of SBP. The program is great if you died within a few years of retirement and it gives the spouse some peace of mind. A lot of people who elected SBP are happy they elected SBP and more power to them. Happy Travels.
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JEB
Senior Member
Username: Wingrider

Post Number: 481
Registered: 12-2003
Posted From: 65.4.225.60
Posted on Wednesday, March 31, 2010 - 06:53 pm:   

Cherry I did as you suggested. Both my wife and I were so young when I got my 20 year letter that the SBP option was just to high. The best I remember it would have cost me about $230 from each paycheck after I retired.

Instead I bought a life insurance policy for $100 a month that built up in value (maybe an annunity?) Anyhow I figured I could afford the $100 per month then more than the $230 during retirement. When I finally retired and both my wife and I were in good health, both physically and financially, I cashed out the policy for about $40,000 and reinvested it. That direction turned out to be the correct day to go from day one. As Ed said, the SBP was a lousy deal.

All my friends who took the SBP laughed and told me I was crazy. I think I am getting the last laugh now though.
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ed williamson
Intermediate Member
Username: Regnav

Post Number: 133
Registered: 07-2009
Posted From: 76.114.109.206
Posted on Wednesday, March 31, 2010 - 01:31 am:   

I made it to RTC Orlando with about 24 hours to spare, traveled from Yokosuka by ship, and didn't give the issue much thought other than, "this will help protect the wife" and signed on the dotted line. My fault - no one was rushing me.

After paying in for 35 years my wife passed on.

Lousy investment and I should have put some thought into it, because once you were in you were in. I have no idea of the total paid in but obviously paying into an annunity would have had better results for me now, and for her had I died during my heart attack five years ago.
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Larry Campbell
Senior Member
Username: Czeezo

Post Number: 877
Registered: 12-2005
Posted From: 71.107.152.127
Posted on Wednesday, March 31, 2010 - 01:08 am:   

Cherry - Amen to that! Larry
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Cherry C.
Senior Member
Username: Cherry

Post Number: 6170
Registered: 06-2003
Posted From: 71.163.18.160
Posted on Wednesday, March 31, 2010 - 12:29 am:   

Perhaps the rates are a little different now, but back when my husband retired we considered his family's and my family's avrage longevity, and decided the SBP was a crummy deal for us. We did the math -- how long we expected each of us to live, and what the program would cost vs. the possible benefits. We have long since "made money" on our decision not to enroll in the program.

Personally, if I was concerned about providing for my spouse after my death, I would take the money that otherwise would go into the SBP (in the form of reduced benefits) and buy a nice annuity for him or her, or a high value life insurance policy.
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Larry Campbell
Senior Member
Username: Czeezo

Post Number: 875
Registered: 12-2005
Posted From: 71.107.152.127
Posted on Tuesday, March 30, 2010 - 07:28 pm:   

I was able to get out of it - they told me that for me go get out of the SBP I would have to get a divorce and that what I did. It is not a good program if you going to live many many years. I retired in 1964 and got my divorce in 1968. So I'm a head of the game.
Took that money and bought a few homes (investments) and did "well"!
I wish that I had never bought into the SBP program. I think it is a real rip off - unless you going to die soon after you retire. But I'm a real gambler - and I WON!
Keep a smile, Larry
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Roger Johnson
Advanced Member
Username: Rwjohn6

Post Number: 303
Registered: 05-2008
Posted From: 12.116.170.130
Posted on Tuesday, March 30, 2010 - 07:16 pm:   

I did institute retirement briefings at our ANG base. We also counseled everyone when they came in to request retirement.

Roger in Fl
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John D.
Moderator
Username: John_d

Post Number: 4190
Registered: 06-2003
Posted From: 95.208.80.143
Posted on Monday, March 29, 2010 - 02:53 pm:   

Mervin, no apologies needed - I'm just glad I didn't decide on an retirement option that I don't remember!
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Mervin J LeBlanc
Senior Member
Username: Merv

Post Number: 470
Registered: 01-2005
Posted From: 74.248.126.191
Posted on Monday, March 29, 2010 - 02:01 pm:   

John D: My appology, XLoadmaster is correct, I didn't realize that you were still on Active Duty, therefore wouldn't have a form listing your benefits as well as your survivor benefits.
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xLoadmaster,M.Lewis
Intermediate Member
Username: Cblmelga

Post Number: 130
Registered: 10-2008
Posted From: 76.17.90.31
Posted on Monday, March 29, 2010 - 01:52 pm:   

Folks, look at John D's profile, he's still active duty, how can he have a retiree pay statment. xloadmaster
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John D.
Moderator
Username: John_d

Post Number: 4187
Registered: 06-2003
Posted From: 95.208.80.143
Posted on Monday, March 29, 2010 - 03:55 am:   

Thanks Dakaota, you're right, I did a quick one but used the spelling "DFAC" and got some mixed results. Thanks DeeDee - correct, I probably don't have one of those yet. Just wanted to make sure I didn't fill out some form at the 20-year point (per Roger's recollection) and selected something that I don't remember.
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Amy S
Member
Username: Aims1111

Post Number: 50
Registered: 08-2008
Posted From: 71.142.55.197
Posted on Monday, March 29, 2010 - 01:19 am:   

THANK YOU ALL SO SO MUCH! For those that asked my hubby is 38 years old and an E-8. He was active for about 6 years. He also has a regular job outside of his CA NG job. His retirement letter is somewhere in a pile at the units desk and that is why he went to Headquarters to pick up a copy. I was utterly shocked that they do not have seminars for NG. I will have to check out the links and get this in order before the deadline is up. I will aslo make an appt at Headquaters like suggested. As always you all are the best!! Perhaps in addition to that Space A briefing CD/tape that you guys thought about doing, how about briefing the NG on retirement :-)
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Mike Jarvis
Advanced Member
Username: Gator

Post Number: 369
Registered: 12-2005
Posted From: 99.50.130.78
Posted on Monday, March 29, 2010 - 12:13 am:   

Bad thing, NG don't get briefs, retirement physicals, etc. Key is to review the RPAS, which will have all time listed. I asked many times why the traditional soldier did not get any type of retirement briefing like we active duty folks did, never got a straight answer.

Once a traditional (M-Day) soldier get's a 20 year letter, they are suppose to go to the UA/RNCO to do the election of the SBP. The unit also is notified of this and should be telling the soldier to come in and do this. Once completed, it is forwarded to the State HQ Retired Branch. It does not 'mean' he has to retire, it is only the election of what portion of his retired pay he wants to give to whomever.

Once the soldier wants to retire, there is a packet that is done and forwarded thru channels. NG soldiers can retire any day of the week, it was normally advised that they did their last drill and retired at the end of the month and to also get their annual training in for the year as well. Most NG soldiers have very little active duty time, therefore their retirement is based off points. They need to know exactly what their retired pay would be, and how much it would be reduced by give 'x' percent of it for SBP.

Would also advise to get a copy of the service medical record and copy of the 2-1 that is kept'd at the State level, not the unit level.

Worked AC/RC, that is how I am familiar with this, well let me rephrase, it was that way 3 years ago before I retired.

Semper Fi!

Mike
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DeeDee Clarke
Senior Member
Username: Deedee

Post Number: 586
Registered: 05-2004
Posted From: 72.181.14.46
Posted on Sunday, March 28, 2010 - 09:54 pm:   

The title of the DFAS-CL 7220/148 form is Retiree Account Statement. I am pretty sure John has never received one.
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Dakota Ray
Advanced Member
Username: Rhammer

Post Number: 394
Registered: 05-2007
Posted From: 69.62.147.217
Posted on Sunday, March 28, 2010 - 08:51 pm:   

Hi John,

I am surprised that you did not Google it. Try dfas-cl 7220/148 It will give you all the info that you did or did not want to know. Most forms, words, phrases, etc on most subjects are there.
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John D.
Moderator
Username: John_d

Post Number: 4185
Registered: 06-2003
Posted From: 95.208.80.143
Posted on Sunday, March 28, 2010 - 06:26 pm:   

Mervin,

What is a DFAC-CL Form 7220/148?
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Mervin J LeBlanc
Senior Member
Username: Merv

Post Number: 469
Registered: 01-2005
Posted From: 74.248.126.191
Posted on Sunday, March 28, 2010 - 05:48 pm:   

John D: You state that you don't have a clue what you selected - look at the SURVIVOR BENEFIT PLAN (SBP) COVERAGE portion of your DFAC-CL Form 7220/148 and you will see what your spouse is covered for under the SBP PROGRAM.
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thomas r randall jr
New member
Username: Trandall

Post Number: 2
Registered: 02-2010
Posted From: 173.51.160.158
Posted on Sunday, March 28, 2010 - 05:43 pm:   

I went thru this 2 yrs ago (Ca Guard), in the packet you should have Form 2656-5. According
to this form you do have a time line to make
a choice (option A,B,C) as far as RCSBP. After
you make a choice it has to be notarized and
returned. Any questions call HRC St Louis at
1-800-318-5298 or 314-592-0553 or OTAG 1-800-
449-9662, 916-854-3252. Hope this helps.
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John D.
Moderator
Username: John_d

Post Number: 4183
Registered: 06-2003
Posted From: 95.208.80.143
Posted on Sunday, March 28, 2010 - 04:19 pm:   

Jill,

That info on the back of the retiree Account Statement sounds like info provided once a member has selected the Survivors Benefit (or not). I think Amy is looking for info so that they can make a decision on selecting the Survivors Benefit once her husband decides to retire.
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Chaplaingil
Member
Username: Chaplaingil

Post Number: 24
Registered: 08-2009
Posted From: 208.5.144.14
Posted on Sunday, March 28, 2010 - 04:15 pm:   

Amy,
I completed Transition Assistance Program (TAP) a few weeks ago, a guy from Navy Mutual Aid provided us info, it was about Active Duty Retirement but I think you could contact them and they would have the latest info for you and your situation.

http://www.navymutual.org/ActiveDutyDetails.asp

V/R and Blessings,
Chaps
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Kenneth
Member
Username: Keno

Post Number: 43
Registered: 07-2006
Posted From: 174.107.130.146
Posted on Sunday, March 28, 2010 - 03:07 pm:   

I believe that on the back of Ken's pay statement from DFAS (retiree Account Statement)it lists your allotments & Bonds and arrears of pay beneficiary information showing the beneficiaries on record and the percentage share you elected. It also shows the relationship ie wife. From memory this statement is sent to your address on record at least twice a year. My guess is the information could be accessed on line at mypay.DFAS.mil

Jill
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Senan Halpin
New member
Username: Irish02

Post Number: 4
Registered: 09-2009
Posted From: 207.69.137.15
Posted on Sunday, March 28, 2010 - 03:05 pm:   

Active duty folks were not required to make an election until they actually applied for retirement. Once they reached 20 years of service they were "presumed" to have elected full coverage at no cost to the service member while continuing on active duty. In essence, they had full SBP coverage if they died on active duty beyond 20 years of service. Electing or not electing SBP coverage does not affect other benefits such as medical, Bx/Px/commissary.
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John D.
Moderator
Username: John_d

Post Number: 4179
Registered: 06-2003
Posted From: 95.208.80.143
Posted on Sunday, March 28, 2010 - 06:16 am:   

If one has to make a selection after 20 years then I haven't a clue what I selected as that was 9 years ago!
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Roger Johnson
Advanced Member
Username: Rwjohn6

Post Number: 302
Registered: 05-2008
Posted From: 205.188.116.208
Posted on Sunday, March 28, 2010 - 02:36 am:   

I recall you do need to make a selection after 20 years. You can elect the minimum or additional % of your retired pay. One caution if you do not elect to have any benifit your wife will not have retired benifits upon your death.

Roger in Fl
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William Standage
Senior Member
Username: Charlie13

Post Number: 1031
Registered: 07-2004
Posted From: 75.172.61.238
Posted on Saturday, March 27, 2010 - 08:23 pm:   

USAA used to have a very good informational booklet about SBP and how it works. You might want to search their website.
I suspect your husband will be given the opportunity to elect SBP prior to reaching the point where he starts pulling in the title X retirment bennies. I think you have to sign off on the application, yea or ney.
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Mervin J LeBlanc
Senior Member
Username: Merv

Post Number: 467
Registered: 01-2005
Posted From: 74.248.126.191
Posted on Saturday, March 27, 2010 - 05:53 pm:   

Amy,

I see that you are from Sacramento, CA. I am not sure, but if the CA National Guard Headquartes is located there, call and make an appointment with the Personnel Retirement Division to discuss your husband's situation. I'm not positive, but just receiving his letter notifying him that he has 20 years of service and is eligible for retirement doesn't mean he has to elect a Survivor Benefit option at this time. You do not state how old he is, whether he is an officer or enlisted. I have a good friend who retired from the National Guard and on the advice of someone (I suspect an insurance agent), he didn't elect survivor benefits in order to get more money when he did retire. He now wishes he had made the election for the 55% survivor benefit election. Go talk to the NG Retirement personnel with your husband is my advice.
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Bill Ward
Senior Member
Username: Dualrated2

Post Number: 687
Registered: 08-2003
Posted From: 76.169.178.107
Posted on Saturday, March 27, 2010 - 05:35 pm:   

Amy,

Read this to get an idea of why you want to carefully consider the three options available. This spouse got nothing upon the death of the servicemember.
http://boards.law.af.mil/ARMY/BCMR/CY2009/20090000909.txt
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Amy S
Member
Username: Aims1111

Post Number: 49
Registered: 08-2008
Posted From: 71.142.55.197
Posted on Saturday, March 27, 2010 - 04:38 pm:   

My hubby just received his 20 year letter. He never received it from the unit, rather he picked it up at OTAG. Today I/he received a letter stating that he didn't note which Survivors Benefit he wanted and if he didn''t choose then they would enroll him in Survivors only benefit. So far hubby isnt planning on retiring, so I didnt think this had to be done. Plus we have not gotten any information on what this benefit is (or options). I have emailed a person in Retirement that I found on the web and asked when the Retirement seminars are, but they said they only have them for Active Duty and they would likely not apply to hubby because he is National Guard. Its seems ridiculous that they don't have something?! Does anyone know anything on these benefits or where I might find information regarding Retirement. I would prefer a seminar vs a book, so that I can ask any and all questions that I am sure I will have. But I will take a book if that is all the have (hard to believe though). Thanks so much because I know you guys always have an answer for me :-)

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