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Flashcards in Survivor Benefit Plan Deck (19):
0

What is the directive for the SBP Plan?

OPNAVINST 1750.5

1

Who is responsible to ensure all retiring Sailors, regardless of marital status and their spouses if applicable, receive up-to-date one-on-one SBP counseling prior to their date of retirement.

COs and OICs

2

What is DD 2656?

Data for Payment of Retired Personnel

3

What is a government-subsidized annuity program which permits military retirees to provide a portion of their retired pay to an eligible category of beneficiary after they die?

Survivor Benefit Plan (SBP)

4

True or false
All active duty Sailors, regardless of service, who die in the line of duty (LOD) and have a'qualified beneficiary are automatically covered by
the SBP?

TRUE

5

All . Sailors, regardless of marital status, are | eligible to participate in the program and must j I make a valid SBP election prior to retirement,
Sailors who fait to make a valid election will be enrolled in the SBP at the level based on the dependent information contained on their
DD 2656.

retiring, automatically, maximum

6

True or false
A Sailor who has no eligible beneficiary at retirement remains eligible to enroll in the SBP.

True

7

True or false
A Sailor who has no eligible beneficiary at retirement remains eligible to enroll in the SBP.

True

8

The spouse's notarized __ is required when a Sailor declines coverage, elects less than
maximum spouse coverage, or elects child-only coverage in lieu of spouse coverage

Written concurrence

9

What is the purpose of having the spouse's signature notarized?

Identification purposes

10

How may the notarizied requirement be accomplished if the spouse and Sailor are
geographically separated?

By mail

11

Who is authorized to waive the requirement to obtain the spouse's written concurrence?

SECNAV

12

Unmarried minor child{ren) are eligible for SBP coverage up to age _, or age _ if a full-time student.

18, 22

13

SBP premiums for maximum spouse coverage are generally _ percent of the retiree's retired pay and are not subject to Federal income tax.

6.5

14

Retirees who are _ years of age or older, and who have paid SBP premiums for _ years or more, will be "paid-up" and no further premium deductions will be made.

70, 30

15

Who is responsible for making SBP annuity
payments?

DFAS-CL

16

What must eligible beneficiaries submit in order to receive monthly annuity payments?

DD 2656-7. Verification for Survivor Annuity

17

The annuity payable is _ percent of the elected
base amount and is paid in equal shares to eligible children beginning the day after the retiree' s death

55%

18

What is DD 2656-6?

Survivor benefit plan election change certificate .