No Premiums for Some Retirees

Week of January 14, 2008

Effective Oct.1, 2008, Uniformed Services Survivor Benefit Plan (SBP) participants who reach 70 years of age and have made 360 payments (30 years), will no longer have to pay premiums for continued SBP coverage and will be placed in "Paid-up SBP" status. No action is required of SBP participants to be placed in Paid-up SBP status. Once the eligibility criteria has been met, the Defense Finance and Accounting Service will automatically stop deducting premiums from qualifying military retired pay accounts. More information on Paid-up SBP, including frequently asked questions and news updates, should be available at the DFAS website within the next several months.

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