Retiree SBP Accounts Being Reviewed

Week of April 28, 2008

The Defense Finance and Accounting Service is reviewing all military retiree accounts affected by the new "Paid-Up SBP" law. Under the law, retirees who are at least 70 years old, and have paid at least 360 months of premiums on Oct. 1, will have their monthly premiums terminated. The change will be reflected in the November 2008 pay statement. If a retiree does not meet the eligibility criteria on Oct. 1, the premiums will stop when the retiree has met both criteria - reached age 70 and paid SBP premiums for 360 months. Eligible retirees will be notified by DFAS via mail regarding the status of their account and premium payment count. Learn more about "Paid-Up SBP."

To learn more about your state's benefits, visit the Military.com State Veteran's Benefits Directory.

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