To establish an open season for enrollment in the Survivor Benefit Plan under subchapter II of chapter 73 of title 10, United States Code.

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senate

president

Legislation Details

Establishes an open enrollment period for the Survivor Benefit Plan (SBP) for eligible retired or former members of the uniformed services.
Eligible members include those entitled to retired pay or those under 60 years of age who would be entitled to retired pay.
Participants can elect to join the SBP, change beneficiaries, or discontinue participation during the open season.
Premiums for new participants will be determined by the Secretary of Defense and will include past reductions in retired pay, interest, and additional amounts for actuarial soundness.
Premiums paid will be credited to the Department of Defense Military Retirement Fund.
Elections must be made in writing and are effective the first day of the month following receipt by the Secretary.
The open enrollment period runs from the date of enactment until December 31, 2025.
Provisions of existing law regarding the SBP apply to elections made during this open season.
Definitions for key terms related to the SBP are provided, including “base amount,” “reserve-component annuity,” and “standard annuity.”

Establishes an open enrollment period for the Survivor Benefit Plan (SBP) for eligible retired or former members of the uniformed services.
Eligible members include those entitled to retired pay or those under 60 years of age who would be entitled to retired pay.
Participants can elect to join the SBP, change beneficiaries, or discontinue participation during the open season.
Premiums for new participants will be determined by the Secretary of Defense and will include past reductions in retired pay, interest, and additional amounts for actuarial soundness.
Premiums paid will be credited to the Department of Defense Military Retirement Fund.
Elections must be made in writing and are effective the first day of the month following receipt by the Secretary.
The open enrollment period runs from the date of enactment until December 31, 2025.
Provisions of existing law regarding the SBP apply to elections made during this open season.
Definitions for key terms related to the SBP are provided, including “base amount,” “reserve-component annuity,” and “standard annuity.”