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13 Cards in this Set
- Front
- Back
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What is the directive for the SBP Plan?
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BUPERSINST 1750.11
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What is the Survivor Benefit Plan?
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provides members who are entitled to retired pay , in the event of their deaths, to provide up 55 percent of their gross retired pay as an annuity payable to their NOK.
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What is the secondary purpose of the SBP?
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the law provides for a minimum
income guarantee for widows and widowers of retired members |
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Who does the SBP apply to?
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SBP applies to any retired or retainer pay awarded a member as a result of military service
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Is the base of amount adjusted for the area and the cost of living?
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YES
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Can a member designate different base amounts between the spouse and children?
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NO
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What is the Dependency and Indemnity?
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a compensation program administered by the Department of Veterans Affairs (VA) and is authorized for widows,
widowers, unmarried children under 18 |
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Can member enact a lesser amount for the SBP?
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yes provided they have written concurrence with their spouse.
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Can a member who retires and later remarries or has children participate in the SBP?
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Yes but has 1 year to do so.
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Can a member elect additional or other coverage?
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YES
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How many days does a member have until he retires to elect optional coverage?
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45 days.
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Can a person who has insurable interest in the member be covered in the SBP?
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yes; must provide proof;qualifies as a dependent
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Who is Minimum Income Widow?
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(a) who is not eligible for any other SBP annuity
(B) Whose total annual income (exclusive of pensions received from the VA as a nonservice-connected death pension) is less than $5,488 is entitled to a modest annuity under the MIW provision. The MIW annuity payable will be such that when added to their other income as defined above, including any annuity received under RSFPP, will total $5,488 per year C) |
