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You've reached the 20 year mark in yourmilitary career and finally you're readyto transition out you recognize you willonly receive half of your high 3 basepay and you'll no longer receive bah butyou were now learning they want to takesome money away from you in the form ofan annuity should you do it I'm MitchellHockenberry and I'm gonna talk youthrough the pros and the cons of signingup for the survivor benefit planyou know that only half of your highthree is available as a pension butworse know bah that means you're nottaking a 50% pay cut but more like 65%and now they're asking you if you wantto participate in the survivor benefitplan another pay cut but I think youneed to look at this in a differentmanner the survivor benefit plan is topra portion of your retirementpension to your loved ones when you diein essence you are paying via a reducedpension amount for an annuity to be paidout to your spouse or your children orboth when you die now this is actually areally good thing let me paint you apicture you're married and you have twochildren under the age of 18 you retireafter 20 years and you begin to drawyour monthly pension in the amount of$2,500 a month if you die soonthereafter do you know how much yourpension is gonna go to your spouse andchildren zero zilch let that sink in youserve for 20 years expecting to receivethis nice pension for the rest of yourlife a long life but you die early yourspouse didn't earned the pension byserving the 20 years you did is thatfair for your spousenot really but by taking a smalleramount usually around $200 less permonth you are providing your spouse aportion of the pension in case you diethis is a really big benefit now I'm notusually a proponent of annuities in factthat's a bit of an understatementI like to look at it other ways that youcan manage risk whether it's selfinginsurer itself ensuring for instance orgetting a term insurance product buthere's the thing I've run the numbersand the survivor benefit plan is notonly competitive in many cases in manycases it's a better deal clearly I amtalking in generalities here because Idon't know your specific situation noryourhealth or any of that other stuff besure to talk to a financial planner andrun the numbers specific to yoursituation but let me just lay out somepros and cons of the survivor benefitplan pros 1 it provides income to thespouse after the servicemembers death -you cannot be denied enrollment due topoor health reasons 3 the beneficiarycannot outlive the annuity it goes onuntil their death for peace of mindknowing your loved ones are provided amonthly amount of money 5 it is veryinexpensive think sense not dollars morejust to add children to the plan 6 is agreat part after 360 monthly paymentskind of thinking like a house mortgagehere and reaching age 70 you are paid upyou no longer need to contribute butyour spouse still receives the benefitok now there's some cons one less