Open Enrollment


SBP One-Year Open Enrollment (Oct. 1, 2005-Sept. 30, 2006)

SUMMARY:

As we reported in our Apr-Jun Semper Fidelis, Congress has approved a Survivor Benefits Program (SBP) open enrollment period, which will begin on October 1, 2005, and end on September 30, 2006. This open enrollment period will give retired members an opportunity to either

Participate in SBP as a new enrollee after previously having declined participation in this program, or
Increase the amount of coverage previously elected.
Members that previously declined coverage should take into consideration the changes made to SBP under the Fiscal Year 2005 (FY05) National Defense Authorization Act (NDAA). One of the biggest changes is the elimination of the annuity reduction after age 62. This change is being phased in over a three-year period, and will be fully eliminated after April 1, 2008. For more information on this change, see the Apr-Jun Semper Fidelis