Normally, the death of a military retiree terminates all pension payments. The Survivor Benefit Plan (SBP) is an annuity that allows retired military members from both active duty and the reserves to provide continued income to specified beneficiaries when the retiree dies. 10 U.S.C. ' 1447-55.
Divorce and the Military Member
Normally, the death of a military retiree terminates all pension payments. The Survivor Benefit Plan (SBP) is an annuity that allows retired military members from both active duty and the reserves to provide continued income to specified beneficiaries when the retiree dies. The SBP is funded by premium payments from the retiree's paycheck and reduces the amount of the Disposable Retired Pay. With it, the designated survivor receives a lifetime annuity of up to 55% of the retired member's pay. In addition to spouses and former spouses, coverage is also available for a child, so long as the child is from the marriage of the service member and the former spouse.
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