SBP

Question 0

Maximum SBP amount:

Answer 0

Mbrs total gross retired pay

Question 1

Minimum base amount:

Answer 1

$300 total gross retired pay

Question 2

Annuity

Answer 2

55% base amount for spouse

55% base amount for children (as long as they remain eligible).

Question 3

SBP election form

Answer 3

CG-4700 (sent to PPC-RAS)

Question 4

Mbr who is not married or has dependents at time of retirement, but later remarries or acquires dependents :

Answer 4

May elect to participate as long as rec’d by PPC RAS within 1 year or acquiring dependents

Question 5

No election at time of retirement:

Answer 5

Will result in automatic participation in SBP

depn’s will be covered at maximum level

Question 6

Time requirement:

Answer 6

Election coverage must be signed and submitted prior to midnight on mbrs last day of active duty.

Question 7

Cost for spouse or former spouse:

Answer 7

Base amount over $1447 = 6.5%

Base amount under $1446 = 2.5%

Question 8

Total Cost for insurable interest may not exceed:

Answer 8

40% of mbrs retired pay

Question 9

Declined coverage for spouse at time of retirement:

Answer 9

The election is irrevocable

Question 10

RCSBP

Answer 10

Reserve component survivor benefit plan

Question 11

Is SBP taxable:

Answer 11

Federal taxes only