IMPORTANT LINKS:
- HOW DO I GET SOCIAL SECURITY CREDIT FOR MY MILITARY SERVICE
- SECURITY FULL RETIREMENT AND REDUCTION BY AGE
- GEORGIA MILITARY PENSION FUND APPLICATION - 12 Sep 07
- SUMMARY OF VA BENEFITS - 19 SEP 07
- GEORGIA VETERANS MEMORIAL CEMETERY, MILLEDGEVILLE, GA - 19 SEP 07
President signs bill which eliminates SBP offset
President George W. Bush signed the National Defense Authorization Act for Fiscal Year 2005 on Thursday.
One of the key provisions of the bill is elimination of the Survivor Benefit Plan (SBP) age 62 offset over a period of three and a half years.
President George W. Bush signed the National Defense Authorization Act for Fiscal Year 2005 on Thursday.
One of the key provisions of the bill is elimination of the Survivor Benefit Plan (SBP) age 62 offset over a period of three and a half years.
The offset reduces the SBP annuity from 55 percent to 35 percent when
the annuitant reaches age 62 and becomes eligible for Social Security
based on the retired members work record.
The offset elimination which will be accomplished by increasing the annuities paid to survivors of military retirees who are 62 and older from 35 percent of retired pay to the following percentages:
*
for months after September 2005 and before April 2006, 40 percent;
* for months
after March 2006 and before April 2007, 45 percent;
* for months
after March 2007 and before April 2008, 50 percent;
* for months
after March 2008, 55 percent.
