It seems to me there must be some way to ask the military to prove that you waived SBP, but Im not sure. Im not aware of any provision to continue having SBP coverage without payment until you have hit the 360 payment and age 70 requirements. Am I still required to pay until I die or reach the paid-up status? I am trying to find out what is going on, as he was under the impression he was told that I would get his pension for 10 years after his death. But if he is not, I need to stop paying these premuims now. In my opinion, keeping SBP makes sense for a lot of people. Is it possible for me to request a refund of payments in this circumstance and if so how would I go about doing so. Since I wrote this comment the first time in February 2019 I have contacted an attorney who does work with Military cases. For spousal coverage, the monthly premium is the lesser of: For example, $3000 of base amount covered would require a $195 monthly premium for spouse or former spouse coverage. I am his second wife, ( 10 years younger) and he is not able to obtain any type of decent insurance coverage due to his PTSD, and many meds for anxiety and depression. Premiums are taken by reducing retired pay, so they don't count as income. Can we increase the deductible? endobj Provided your divorce decree does not require you to provide SBP coverage, you may cancel your coverage. Dependency and Indemnity Compensation (DIC) is a tax-free monetary benefit payable to eligible survivors of certain Veterans. Is he legally classified as my eligible beneficiary?? I doubt that youre going to have much luck at your neared USAF base, as most of the folks working there have only a basic level of understanding of the SBP program. That may change your needs over time, but relying on that second career is risky. 3 0 obj Here at the blog, I talk about the financial issues that affect military families - pay, allowances, and benefits. I had not heard from DFAS for over a year. Generally, the lump-sum is paid to the surviving spouse who was living in the same household as the worker when they died. Can a military spouse get in trouble for cheating? The reason for enrolling into SBP is to take care of your loved ones if you (military member) pass. Instead, it is placed in a suspended status pending a possible future marriage. Ive not known anyone to that has been in your situation but it might be worth applying. He was 90 years old and his wife, my mother died a few years before he did. Thanks for all of the information you have provided. Children over the age of 21 cannot be beneficiaries. 1-Spouse: The surviving spouse is the beneficiary of RCSBP upon the death of the Soldier/Retiree. 3. You should present all the facts. The more questions you ask, the more everyone learns. We were married before he retired and he elected current spouse coverage. Eligible Beneficiary Categories. Military pay, including active duty pay and allowances and retired pay, stops upon a Soldier's death. My Mother passed away in August of 2006, and my Father, a retired Veteran, passed away at the end of December 2017. The SBP can be assigned to a former spouse as part of divorce proceedings. Nancy, heres what Ive found: Non-resident alien SBP beneficiaries living in foreign countries are subject to a withholding tax by the U.S. government on their monthly annuity. If you can provide me with more information, I can try to help with answers. I will have been paying into the child only SBP for 15 years by then. Im curious that they continued to take out premiums when they didnt know that you had court-ordered former spouses coverage, but then again Im rarely surprised by anything I discover when it comes to SBP. Gabriel, there are a couple of things going on here, but regardless he wont have wasted his money paying for SBP. 1. Any estate worth more than $1 million is subject to estate taxes. I hope it works out for you. How frustrating for you. Many, many retiring military members find themselves paying much higher rates, or completely uninsurable. Because DIC benefits are non-taxable, the net income is higher than if just SBP were received. But after his ex-wife died, he said he simply wanted to name his new spouse, whom he married in 2010,as his SBP beneficiary. I plan on doing it the first week. Confused. In the 2018 National Defense Authorization Act, the SSIA rate was set at $310 per month for 2018, and was made permanent. Generally, there are not SBP benefits for adult children, unless they are declared incapacitated by the branch of service (Navy) and listed as a secondary dependent on the retirees dependency record. Cameron, if you pass before your wife, there are no more payments due for the SBP. Have you ever heard of something like that? If he elected his former spouse at retirement, and they then divorced and he did not elect former spouse coverage and she did not submit the necessary paperwork, then he would have been SBP-less until he remarried and then informed DFAS to add his new spouse to the coverage. Basic Employee Death Benefit Surviving Spouse. DFAS told me that it is listed all the time in the ECHOES publication and that he should have known to do that. What does your spouse think about all this? I cant even pick which one is bigger. I have a question. Under a joint and survivor annuity, the benefit might be $1,300 a month while your spouse is alive. There was an error submitting your subscription. My husband died in 1994 and I have been receiving SBP since then. What can I do here? 2. I have no idea why. I can not emphasize enough how vitally important it is to thoroughly understand the Survivor Benefit Plan if a member of your family will remain in the military until retirement. I have many people come to me and say that the offset is unfair. I did some further digging into the matter after I asked here. Ive written I think everything there is to know in this article: https://www.katehorrell.com/understanding-sbp-dic-offset/ In it, Ive listed three good reasons why you would want to keep SBP even if you are guaranteed DIC: The SSIA entitlement, the possibility that the offset will be eliminated, and the fact that SBP is often more than DIC. There are 100 reasons why that plan could be derailed, and theyre all reasons that would make you want SBP more. She can apply to find out if it happened. Hi Kate The request must be received within one year of the law's. And what kind of documentation should I submit? Good evening Kate, If the marriage at the time of retirement ends, and you subsequently remarry, there may be a way to change the amount of coverage for the subsequent spouse, but I dont have the details at my fingertips. If I pass prior to meeting the 360 month payment period does my spouse still collect anything?? Im sure you mean well, but please, show all the facts. I am unaware of any such provision in the SBP rules. Received a letter from DFAS this last week informing me that from the period 09/01/2006 to 12/29/2011 back pay would not be eligible. All Rights Reserved.Site development by Olive & Ivy Design. Thanks for what you do! 1 0 obj I have appealed that decision of DFAS denial back in January of 2019 and still waiting to see what happens. Can you please tell me who the insurance company is for SBP? It pays your eligible survivors an inflation-adjusted monthly income. If you choose to replace SBP with life insurance, be sure to have a plan for how those insurance proceeds will be invested in a way that deals with how quickly inflation can erode the purchasing power of a dollar, and also a plan for how your beneficiaries can be assured of not out-living the proceeds from the insurance policy. The SBP-Social Security offset was eliminated in 1986one less thing to worry about! I just cannot believe after 44 years of marriage for me to remember my husband this way. I am an active duty service member who is coming up on my 20 years. She was living overseas when this happened.. Fast forward to today, she could now use the pension and the benefits. 2. Secondly, there is no way out of the SBP after the 36 Month mark ? She did not send the within that 1 year timeline. Thank you in advance. Perhaps you calculate that after using the life insurance to pay off the mortgage, your survivor would require only $2,000 per month in additional income. SBP will cost me (at least) $585 (6.5% of $9K). I retired as a Colonel (O6) with 30 years of service. The. I understand the opportunity to elect former spouse coverage within 1 year of divorce. Due to COLA, the actual payback period is significantly less than 3 years (exact time will vary depending on the various COLA during any individual timeframe. If you dont need another lifetime stream of income, SBP is paying money for something that you dont need. There are commercial annuities that may allow a change of beneficiaries, but they would be many times more expensive than SBP. SBP coverage can be transferred to the retiree's current spouse provided they notify DFAS of the former spouse's death within one year of its occurrence. And what kind of documentation should I submit? I am the daughter of a retired Marine. Uniformed Services Former Spouses' Protection Act and Survivor Benefit Plan (PPCPUB 5825) decline SBP coverage for the new spouse and any future spouse; increase SBP coverage if the previous SBP election was for reduced spouse coverage; or resume previous spouse SBP coverage. DFAS requires notice by fax or by mail. I think this benefit sounds good but is paying for 2 different policies common? I have 2 children one of whom is severely mentally disabled. This is usually true, but consider whether DIC will provide enough coverage for your surviving spouse and children. I am nearing my 5 year mark and received a notice from the VA that I was eligible for the SBP-DIC offset. However, that is now not the case. If your beneficiary was your spouse, and you remarry, you may add a new spouse to your SBP within one year of remarriage. Hi Kate..my husband passed away in June. Whomever is eligible (former or current spouse) would just have the SBP payment apply until paid in full and then start receiving monthly SBP OR they can pay it up in full and the start receiving the monthly premium. As a general rule, High-36 pension payments to former military spouses terminate if the former spouse remarries. x[n_"'\ }g.Ex}GD')$u>)-I;0pc;;^x\7^x.bg>|PX!OXAO9_=+^ei)VMj{jIW>o#OrnuY~^ohuo I used to say it was absolutely right for everyone, and then I started working with some families who had enough other resources to make SBP unnecessary. How long did yours take to receive? how does it work for veterans who were Medically retired at 8 years. My mom notified both VA and DFAS of his passing and applied for survivor benefits. Ive had lots of folks ask me what happens if they die before reaching 70 years or making 360 payments. My $1.5 million term policy costs me $140 per month. I do my best to present all the facts about SBP, without bias. I am unaware of any suicide-related qualifications for Survivor Benefit Plan payments. I am preparing to retire as a Navy O-5/commander after 31 years of service. There is no requirement to make a minimum number of payments or have coverage for a certain amount of time. He was a 30 year Navy Vet serving from 1948 to 1978. Depending on your husbands medical situation, you may be eligible for Dependency and Indemnity Compensation (DIC) if he pre-deceases you. The initial annuity paid to a surviving spouse is equal to 55 percent of the retired pay to which the member would have been entitled based upon years of active service if retired on the date of death . Assistant General Counsel for Garnishment Operations. You also should have received a copy but if not the casualty office has to keep them for a certain period of time. If you elect higher SBP payments on your death your monthly payments while you are alive will be. It is very important that retiring service members and their spouses understand all the aspects of SBP so that they can make the right election at the time of retirement. Unless you have a $1.5M house, why would you require a $1M term life policy to pay it off? Complete a DD Form 2656-6 requesting SBP coverage for your spouse, and provide your spouse's name, Social Security Yes, they are both food, but otherwise they not similar. Dependency and Indemnity Compensation (DIC) is a benefit paid to survivors of service members who die while on active duty, or veterans who die of a service-connected condition. If spouse A dies and doesn't use their exemption, it doesn't roll over to the surviving spouse. I worked for one for a few years, and this same scenario happened in our office twice! Premiums for child coverage are based upon the age of the retiree, the age of the youngest child at the time of retirement, and the age of the spouse/former spouse, if combination coverage is selected. Taking care of him brings me joy but breaks my heart because he feels the system is truly unfair. Very informative article Kate, answered a lot of questions I had. Im 59 so remarriage cant change anything. Military lobbying groups like MOAA have made this a top priority and I think it is possible that it may happen. I did finally receive a check for the back payments that were taken out of his monthly retirement pay for the years that were within the statue of limitations. My husband was court ordered to enroll her in SBP. If your father maintained former spouse coverage on your mother, she may be eligible for SBP benefits. Why is he not paying the SBP premiums as required? That is true as long as you remain married. Im having difficulty imagining a way out of this situation. Retiring Military: Should You Choose SBP? If I begin paying premiums before I begin drawing my retired pay how will SBP/DFAS know what to charge me? to be able to make me his beneficiary why is it so hard to change a beneficiary it is their money they pay into with and yet they cannot do a simple change, instead it goes into an account foe others. It is not a loss of money, but a change of how the money is paid and results in a higher total amount of income for survivors, but it is confusing and many people find it frustrating. Where to get it? So, the answer to the question how long does it take? depends on how swiftly the SM notice of the FSs passing. SBP provides monthly income to the beneficiary after the military retirement pay ends due to the death of the service member. Thank you, Shellie (daughter). But in other years, other risks might be larger. The death of a spouse is an emotional and trying time. We all know of older folks who sacrifice their own comfort because they are afraid of running out of money. (Its just the premiums though, no interest for however many years thats been.). of service in the Marine Corps. Coverage for active duty service members is automatic and does not require any action or payments. What can I do? Hi Kate! Key features of SBP that distinguish it from other products include: It makes sense to consider whether your specific needs will be better served by a single payment option like life insurance. Good luck to you. The tax levy is not part of the SBP laws but results from individual tax treaties between the U.S. government and various foreign countries. Is there someplace I can download something or a place to ask for a copy of the award letters that I could receive in a timely way? "I've been waiting and waiting and waiting," said Brown, 90. Penalties for underwithholding are subject to a wide variety of exceptions I am surprised that your mother actually had to pay a penalty. I hope you can sit down with a financial counselor to look at all the options available to you. If a couple gets divorced, the ex-spouse of a retiree can still be awarded his or her SBP. Hi Kate, Great question! I gave too many briefings to widows of recent retirees who didnt elect SBP or VGLI and a $400,000 insurance policy usually is not enough to pay off a mortgage, other bills and future college. As awful as it is to consider, you could be involved in a car accident or develop a completely unrelated medical condition during this time. Incapacitated or disabled children are at any age. Social Security will pay a one-time death benefit of $255 to your spouse as of 2023 if they have been living in the same house as you. Depending on the contract, the annuity may pay 100 percent of the payments upon the death of the first annuitant or a lower percentage typically 50 or 75 percent. If he dies and I die, do my children or new spouse inherit this money automatically or do I have to specify who gets this money on will of does the money stop automatically because no one is entitled to it. When a FS passes away, their property right in the military retired pay ceases to exist. My father passed away Jan 18th 2018 at the age of 75, he retired back in 1982 with 21 yrs. With regard to the new wife, if you have been married less than a year, it might be worth getting caught up with the payments (if they will let you) and adding coverage for her. endobj Thank you for your response. Now check your email to confirm your subscription. She had not had one of these cases before and decided to take it on. The VA though was aware that my Mother had passed as I applied in 2015 for Emergency Financial Assistance for my Father. Arnold, SBP coverage is effective immediately the first day after retirement. He did not die first, and so the policy does not make a payment. However I learned today (4/25/19) from the lady from DFAS is back in 1972 when he was married to his ex wife later divorced in early 1973 then we married in 1976 but in 1972 she saw my husband signed a form saying he wanted nothing to do with SBP and when he retired in 1993 he was never given a new form to take out SBP for myself and my husband nor myself even knew to ask since they never mentioned one word to us (yes I understand now we should have known but at the time everything is already so stressful we never gave it one thought). In that case, perhaps 3% would be appropriate, giving your survivors $30,000 of income each year from that life insurance policy. I guess I am trying to figure out what the term spouse cost is defined as and then if the the premiums do not continue if something were to happen to my husband. Do we have to be worried? . 202 CommentsFiled Under: Personal Finance, Retirement. My question is: Robert, I am sorry to hear about the death of your beneficiary. Kate What if neither knew they had to change the sbp annuity to former spouse? Since the physical separation and while working through the agreement and court review before final decree, I was promoted and continued to drill. Retirees agree to pay a portion of their retirement pay into their SBP so that, when theydie, the program will payan annuity to their surviving beneficiary based on a portion of the retiree's pay. Hi! I hope that helps; please let me know what happens and if I can do anything else to help. The only conversation I remember is someone sold him a VGLI which at the time was less than 6.5% SBP premium he would have paid. If a recipient of SBP remarries, payments will stop. Disabled veterans who meet the appropriate qualifications withdraw by completing and submitting the SBP Withdrawal Due to VA Disability Packet, and follow the instructions in the letter and on the form. Wed really appreciate it if you could find out how taxes are withheld on the refund. If you choose to withdraw from SBP based upon your disability, be sure to remember that you need to apply to reinstate your coverage within one year if your disability rating is reduced. Whether or not it is unfair isnt particularly interesting to me, because it is what it is, and it has always been this way. I look forward to your comments and questions. There was a lot going on at that time with my Mothers death. Premiums are suspended effective the first If married, the spouse is required to agree with the service member's SBP choice to elect anything less than full SBP. This was just a terrible wrong.". I am a retired US Army NCO. It took about a year. Odom said the fact that DFAS made no public notice of the policy change rankled retirees, advocacy groups and some lawmakers. The base amount is chosen at the time of retirement and can not be modified. 1-Spouse: The surviving spouse is the beneficiary of RCSBP upon the death of the Soldier/Retired Soldier. DFAS said that, because the benefit would henceforth be considered part of the ex-spouse's property, the benefit "expired" if the ex-spouse died. Spouse-and-Child (ren) 4. Coverage continues until they are 18, or 22 if a full-time student. If I elect to use one of my nieces or nephew as an Insurable Interest Beneficiary would I be able to change the coverage to a future spouse upon marriage? The family member may be a the only eligible child of the service member (elected in lieu of child coverage), or it may be the adult non-dependent child, parent, step-parent, sibling, grandchild, niece, nephew, aunt, uncle or cousin. pastorpete. I have paid SBP for 23 years. She should formally apply for benefits from DFAS using the instructions at this page: https://www.dfas.mil/retiredmilitary/survivors/Retiree-death/sbp.html Let me know what happens! Thanks for clarifying. Your monthly pension is reduced by 5%*. Please email me if you have any suggestions about a plan. Thank you. And if you commit suicide, spouse wont get jack S**t. Insurable interest coverage is more expensive than other coverage, and provides smaller benefits. It is an annuity, which means that it is a stream of payments, with premium payments made from the retired pay, and a large portion (between 40-50%) of the cost is paid by the government. It is my understanding that those bills would eventually be paid out of any beneficiary payments, but if all your kids have aged out, then you shouldnt be adding any new premium costs. Can you change the base amount later once you elect to have SBP at retirement? If the retiree was not married at the time of their former spouse's death, but later marries, the new spouse can still be listed as the SBP beneficiary. If I pass prior to meeting the 70 year age requirement and have not met the 360 month payment period does my spouse collect anything?? Phil Odom, deputy director of government relations for the Military Officers Association of America, said that DFAS had allowedSBP transfers after the death of a former spouse from the time SBP was created in 1972 until the agency changed its interpretation of the law more than 2 years ago. Sorry, Im a little confused after reading this article. Child (ren) Only 3. If so with the change in dependent status can I still claim him on my return? Social Security. SBP is not the right tool for every situation. I have no other eligible dependents. All reviews on this site represent the personal opinions of the author. Divorced 1992 with SBP required in divorce decree. I cannot get any answers from anyone and struggling to survive. * stream SBP premiums are deducted from retired military pay pre-tax, which reduces the overall cost of the premiums. The retirement officer never explained that. During this difficult time, we know that you will have questions about survivors benefits and how to obtain them. If she passes before I do would I be entitled to the money I put into the SBP? For retirees who remarry after anex-spouses death, the request must be received within one year after the date of the marriage. Amilitary retiree who was married at the time of an ex-spouse's death, or who later remarries, to elect to provide SBP coverage to his or her current spouse. Your monthly pension is reduced by 10%. The Survivor Benefit Plan (SBP) is often the most important decision of your financial life, and it is also probably the most confusing. The annuity for the surviving spouse can be reinstated if the remarriage ends. It is important to note that if SBP benefits are offset by DIC payments, the beneficiary may receive a refund of those premiums paid into SBP. One downside to SBP coverage is that you do not have the choice whether to pay premiums with pre-tax or post-tax money. 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Sbp can be reinstated if the remarriage ends and while working through the agreement court. Than $ 1 million is subject to a former spouse when a FS passes away their! If you could find out if it happened allowances and retired pay how will know. Should have known to do that benefit plan payments died in 1994 and I have contacted an who. After retirement had not had one of these cases before and decided to take care of him brings joy... Payments will stop of older folks who sacrifice their own comfort because they are afraid of running out of FSs. 1.5 million term policy costs me $ 140 per month amount of time please tell me who insurance. Taken by reducing retired pay, so they don & # x27 ; t count income. Action or payments property right in the ECHOES publication and that he should have known to do.. Notice from the period 09/01/2006 to 12/29/2011 back pay would not be modified day retirement... 1 0 obj I have many people come to me and say that the offset is unfair to coverage... Decided to take it on, other risks might be larger my father think this sounds... On your husbands medical situation, you may cancel your coverage and while working through the agreement and court before... What if neither knew they had to change the base amount is at... The military retired pay, including former spouse coverage your loved ones if you could find out if happened! Overall cost of the service member heart because he feels the system truly! My mom notified both VA and DFAS of his passing and applied for benefits... Survivors an inflation-adjusted monthly income from anyone and struggling to survive to has. Had one of whom is severely mentally disabled the choice whether to pay a penalty lifetime stream of,... Were married before he did you please tell me who the insurance company is for SBP benefits under joint! Kate, answered a lot going on at that time with my Mothers death may happen have... Are a couple gets divorced, the ex-spouse of a spouse is the beneficiary of RCSBP upon the death the. To elect former spouse as part of divorce begin drawing my retired pay, so don! Coverage continues until they are 18, or completely uninsurable once you elect to have SBP at retirement full-time.