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Save Benefit Plan in PNG

Save Benefit Plan in PNG

Aug 6th, 2022

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How to Save Benefit Plan in PNG

4.9 out of 5

37 votes

When eligible for military retirement, servicemembers face a crucial choice: whether to enroll in the Survivor Benefit Plan (SBP). Many are unsure about the plan's purpose and implications. The SBP provides a portion of your pension as a benefit to your spouse after your passing. Basic terms like annuity, beneficiary, and premium may seem confusing, but understanding these is essential to make an informed decision. At retirement, you'll receive a pension based on contributions made since your entry into service, and deciding on the SBP can affect your financial security and that of your spouse. It's important to clarify these concepts before making your choice.

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