What is Survivor Benefit Plan Coverage?

The Survivor Benefit Plan (SBP) allows a retiree to ensure, after death, a continuous lifetime annuity for their dependents. The annuity which is based on a percentage of retired pay is called SBP and is paid to an eligible beneficiary. It pays your eligible survivors an inflation-adjusted monthly income.

Can a former spouse continue to receive SBP after divorce?

You have to inform DFAS of your desires, but any premiums paid after the divorce is final will be refunded to you. You can remove your former spouse or you can continue to provide her the benefit, but you cannot simultaneously provide for a new spouse while extending SBP to a former spouse.

What happens to survivor benefits after a divorce?

Death of a spouse ends benefits for that spouse. If you paid premiums into the program after the death, those premiums are refunded to you. You can end benefits to a former spouse through remarriage after your divorce, with some caveats.

Can a divorced spouse claim their ex’s Social Security?

You can claim even if your ex hasn’t retired and isn’t receiving Social Security benefits (as long as your ex is at least 62). Claiming won’t reduce your ex’s Social Security benefits or his or her current spouse’s benefits. The SSA won’t notify your ex that you’ve claimed on his or her record.

Do you get 75 percent of your ex spouses benefits?

If you are caring for a child from the marriage who is under the age of 16 or is disabled, you will receive 75 percent of the deceased ex-spouse’s benefit.

When to claim survivor benefits from an ex spouse?

Claiming survivor benefits before you reach full retirement age reduces the amount of your benefit, except as noted below. If you are caring for a child from the marriage who is under the age of 16 or is disabled, you will receive 75 percent of the deceased ex-spouse’s benefit.

What are the retirement benefits for a divorced spouse?

Your benefit as a divorced spouse is equal to one-half of your ex-spouse’s full retirement amount -ONLY- if you start receiving benefits at your full retirement age. Generally, if you are eligible for retirement benefits on your own record and divorced spouse’s benefits, we will pay the retirement benefit first.

Is there a survivor benefit plan after divorce?

Federal benefits, such as the Survivor Benefit Plan (SBP), often accrue to both military member and spouse. Disentangling SBP after divorce adds a layer of complexity to a Virginia divorce. What is The SBP?