Military Retirees heads up you been misinformed on Survivor benefits

[Monkeyman]

http://www.dailypress.com/business/local/dp-suevbenefits17sep,0,5877858.story?coll-dp-business-localheads

Financail planner says many military retirees were misinformed about a "Survivor Benefits Plan", and your time is ticking away to fix it.

When Steve Hinds retired from the Air Force in 1992,he was confident that his life insurance would cover his wife's living expences if he daid and she no longer had the income from his pension.

So he turned down an option to cover under the military's survivor benefits plan, which is available to all retirees. Once this option is turn down,the military retiree can not get back in and change.But thanks to Hines and many of us friends you can get back in. Its call the Second chance to elect benefits. So damit do so thats and order LOL

[MadMaddie]

1. Your link isn't working....

Thanks for the info...

[Monkeyman]

2. They pulled the link I will look for one that up thanks

Larry put it up now on

http://www.vawatchdog.org

its up on Mondays scrool down

[MadMaddie]

3. Thanks....

I have to make sure my dad who is retired Air Force is aware of this...

[FILAM23]

4. In my opinion SBP

just isn't worth the cost. But each retiree needs to judge for themselves

[Captain Hilts]

5. The Govt. sponsored annuity retirees are encouraged to invest in is robber

robbery.

Here's how it works. Dad placed x% of his retirement pay every month into this annuity.

When dad dies, mom gets x hundred dollars a month from the annuity. Here's the rub:

The government DEDUCTS the amount of your annuity from your Soc Sec check.

RESULT: My mother is no better off had they not saved the money at all and is WORSE off than she would have been had they saved the money in another format, or even used it for Caribbean vacations.

[FILAM23]

6. The SS offset is why

I say its not worth the cost.