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Survivor Benefit Plan SBP

SBP - UPDATE. Retired Pay stops when the retiree diesSBP is the only way you can ensure a portion of your retired pay continues.Participation is voluntarySpousal concurrence is requiredInflation protected In most cases your decision is irrevocable30 year paid-up provisionNo longer is the bene

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Survivor Benefit Plan SBP

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    1. Survivor Benefit Plan (SBP) Simple Facts to Remember! MR. Rick Riden

    2. SBP - UPDATE Retired Pay stops when the retiree dies SBP is the only way you can ensure a portion of your retired pay continues. Participation is voluntary Spousal concurrence is required Inflation protected In most cases your decision is irrevocable 30 year paid-up provision No longer is the benefit off-set at 62

    3. SBP Cost SBP Annuity 6 1/2% of elected base amount B/A Cost $732 x .065=$47.58 $1000 x .065=$65.00 $2000 x .065=$130.00 $5500 x .065=$357.50 $9850 x .065=$640.50 $130.00 x 12 x 30 = $46,800.00 55% of your elected base amount. B/A Annuity $732 x .55=$402.60 $1000 x .55=$550 $2000 x .55=$1100 $5500 x .55=$3025 $9850 x .55=$5417.50 $46,800.00 / $1100.00 = 42.5 3 YEARS 7 MONTHS

    4. Currently Receiving Annuity Pay

    5. Survivor Benefit Plan (SBP) Participation Rates September 30, 2010

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