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...
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Dd 2656 2009-2023 Form: What You Should Know
This means that a single form should be used. Please check a previous page, DD Form 2716. Pursuant to JODI 1332.42, the following are the data for payment of the following: A member who has no dependents; who did not serve on Active Duty and is entitled to benefits as a member of the Selected Reserve of the Navy or Marine Corps; A member who served on Active Duty and is entitled to benefits as a member of the Selected Reserve of the Army; or A member who is retired from the Reserve Component and entitled to benefits as a member of the Selected Reserve of the Coast Guard. PRINCIPAL RESTRICTIONS Payment means the amount due the individual; To qualify for SVP, a member must be: The spouse, widowed or widower, child, or grandchild of an individual on whom the member was serving as of September 27, 1993. Note: Jodi 1332.42 also contains a new section, Subitem E, which includes the following exceptions to this rule: (1) An individual eligible for disability retirement under Section 1203 of title 10. (2) The surviving parent of an individual born during the World War II era who is entitled to retired pay by reason of having died while serving in the Selected Reserve during World War II. (3) The surviving father or mother of an individual who died serving in the Selected Reserve of the Air Force during the World War II era. (4) The surviving son or daughter of an individual who died during World War II, or who died during a period in which the individual served in the Selected Reserve of the Army. (5) The surviving spouse or widower of an individual who died serving in the Selected Reserve of the Navy or Marine Corps. (6) A member of the National Guard of the United States or Armed Forces Reserve who was discharged under dishonorable conditions during an authorized period of relief from active duty under section 346 of title 10. (7) A member who was retired or discharged under dishonorable conditions.
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