For military service members and veterans
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Request a conversationFor a service member nearing retirement or a retiree who marries later, Savant Wealth Management prices the Survivor Benefit Plan election at several base amounts before its due date passes. The decision it settles is how much of your retired pay to cover. Spouse coverage pays the survivor 55% of the base amount you pick and generally costs 6.5% of that base amount each month.
Maybe you already talked to HR or the plan administrator, and you hung up with more questions than you started with. Someone mentioned DD Form 2656. Someone else said the window is 1 year, but not whether that clock starts at a wedding. Nobody told you which base amount to pick or what it costs each month. Our team starts with the calendar, writes down the one due date that matters and prices the options after that.
When does a Survivor Benefit Plan election reopen?
The election reopens when a retiree marries after retirement, gains a dependent child, receives a court order requiring former-spouse coverage, or when Congress creates a rare open season. After a wedding, the election is due within 1 year. Many retirees assume SBP is decided once, on DD Form 2656, at retirement. Maureen was single then, so she had no one to elect coverage for. Her wedding opens the window now.
Savant Wealth Management's 6 steps, in due-date order
Savant Wealth Management puts the steps in the order their due dates fall, so for Maureen the wedding date plus 1 year comes first. Each choice gets a monthly premium and a survivor figure before you sign anything.
Steps 1 and 2 are quick. You download the retiree account statement from myPay to confirm the current SBP status, then write the due date (wedding date plus 1 year) at the top of the list. It goes ahead of the Roth conversion question, because that question has no due date.
Steps 3 and 4 put 3 options side by side: full base, a reduced base and no coverage. For each, the premium is 6.5% of the base and the survivor annuity is 55% of the base. Premiums come out of retired pay before tax and stop after 360 payments once you reach 70.
Step 5 lists every other source of survivor income and how it's titled: the rental house deed, the TSP-3 beneficiary form and any life insurance. Each one has to actually reach the spouse. Step 6 is yours to do: you send the election to DFAS, and we check that the next retiree account statement shows the premium deduction.
If you marry after retirement and want spouse coverage, your SBP election has to reach DFAS within 1 year of the wedding. Missing that window removes the choice unless a law-created open season comes along.
Letting that window pass after a post-retirement wedding is a paperwork error that is very hard to undo. The spouse is left with no SBP, and the only way back is a congressionally authorized open season, which may never come. In the example below, that is $2,750 each month the spouse can't get at full base.
The checklist shows one item driving the rest: the wedding date starts the clock, and every other row feeds the pricing or the titling check.
| Item | Why it matters | Where to find it |
|---|---|---|
| Wedding date | Starts the 1-year election window | Marriage certificate |
| Gross retired pay | Sets the highest base amount | myPay retiree account statement |
| Current SBP status | Confirms no earlier decline on file | Retiree account statement, DD Form 2656 |
| VA rating letter | Service-connected death may add DIC | VA.gov letters page |
| Rental property deed | Decides whether rent reaches spouse | County recorder's office |
| Spouse's age and income | Shows how long payments may run | Spouse's own statements |
- Download the myPay retiree account statement
- Write the due date: wedding date plus 1 year
- Price full base, reduced base and no coverage
- Compare 6.5% premium with 55% annuity
- List other survivor income and how it's titled
- Send the election to DFAS, then check the statement
What happens if 2 retirees ask the same thing?
Two retirees can ask how much SBP coverage to pick and need opposite first steps. Maureen needs 3 priced options and a retitled rental. Lamar needs to read his divorce decree first, because a court order may already require former-spouse coverage, and that changes what there is to price.
Take a hypothetical person, Maureen, 52. She's marrying 8 months from now, so her SBP spouse election is due within 1 year of the wedding. She also inherited a paid-off rental house that nets $2,000 each month. Assume gross retired pay of $5,000 each month, for illustration.
At full base, the premium is 6.5% × $5,000 = $325 each month, and her spouse would receive 55% × $5,000 = $2,750 each month. At a $2,000 base, the premium is 6.5% × $2,000 = $130, and the survivor receives 55% × $2,000 = $1,100. The premium gap is $325 − $130 = $195 each month, or $2,340 each year, which she keeps.
The table shows the reduced base cutting SBP survivor income by $1,650 each month ($2,750 − $1,100). Total survivor income shows the same gap: $3,100 at the $2,000 base against $4,750 at full base. What the rental changes is the floor. If it reaches her spouse, the spouse lives on $3,100 a month, not $1,100.
Her answer is the $2,000 base, but only after the rental is retitled to pass to her spouse. Without that retitling, the survivor would have $1,100 and the choice would look very different.
Lamar, 58, is a divorced Navy Reserve chief. His court order may already require former-spouse coverage, and his former spouse can request a deemed election within 1 year of the order. His answer starts with reading the decree. Pricing options comes after that.
Both choices carry a trade-off. The SBP annuity rises with retiree COLAs, while rent depends on tenants, repairs and the house staying in the family, and any investment income can fall as well as rise, including to a loss of what you put in. A reduced base generally can't be raised later outside an open season.
| Option | Premium each month | SBP survivor pays | Survivor total with rental |
|---|---|---|---|
| Full base ($5,000) | $325 | $2,750 | $4,750 |
| $2,000 base | $130 | $1,100 | $3,100 |
| No coverage | $0 | $0 | $2,000 |
Skip the election if no one is eligible
A single retiree with no spouse, no dependent child and no court order has nothing to elect. Keep the TSP-3 and other beneficiary forms current instead, and come back about 6 months before a planned wedding so the 1-year window is never at risk. One limit to know: this service prices the election and checks titling, but it doesn't draft deeds or trusts. Retitling a rental needs an estate attorney in the state where the property sits.
Common questions on a Survivor Benefit Plan election
How soon after the wedding do I have to make the SBP election as a retiree?
Within 1 year of the wedding date. For a retiree who marries after retirement, the election has to reach DFAS inside that window, not just be signed. Savant Wealth Management writes the wedding date plus 1 year at the top of the list and works backward from it, since a missed window is very hard to reopen.
Why pay SBP premiums if I already have rental income to leave my spouse?
Rental income depends on tenants, repairs and the house staying in the family, while the SBP annuity is paid by the government and rises with retiree COLAs. In the example, a $2,000 base costs $130 each month and adds $1,100 of survivor income. Full base costs $195 more each month and adds another $1,650 of survivor income. That trade only makes sense once you know whether the rent will actually reach your spouse.
What happens if my spouse dies before I do after I elect SBP?
Generally, coverage for that spouse ends and premiums stop being deducted. The exact stop date and any refund or re-enrollment rules are set by DFAS, so ask them to confirm in writing. This is why Savant Wealth Management checks the retiree account statement after any change and keeps a copy for your records.
Can a single retiree with no children elect SBP at all?
Not for spouse coverage. A single retiree with no spouse, no dependent child and no court order usually has nothing to elect after retirement. Other categories are decided at retirement, so ask DFAS about your own status. Keep your TSP-3 and other beneficiary forms current, and come back about 6 months before a planned wedding.
Does a 60% VA rating change what my spouse would receive from SBP?
A 60% rating by itself doesn't change SBP, which pays the survivor 55% of the base amount you pick. Dependency and Indemnity Compensation (DIC) is a separate VA benefit that depends on whether the death is service-connected. Bring your VA rating letter to the intro call, and check the current VA rules for how DIC and SBP interact.
What happens on the intro call about SBP?
The fee schedule reaches you in writing before the call. The call itself can be a phone call or a video session with a shared screen. Savant Wealth Management confirms your current SBP status and the exact due date, then asks how your spouse's age and income compare to yours. You leave with the due date written down and 3 priced options.
Bring these 4 items to the call:
You also leave with a short list of titling checks for the rental and your beneficiary forms. Savant Wealth Management won't ask you to pick a base amount on that call; the numbers go in front of you first, and the decision stays yours.
- Wedding date
- Latest retiree account statement
- VA rating letter
- Rental property deed
Summary
- Write down your wedding date plus 1 year and treat it as the due date for the SBP election.
- Download your myPay retiree account statement to confirm your current SBP status before pricing anything.
- Compare full base, a reduced base and no coverage using 6.5% of the base for the premium and 55% of the base for the survivor annuity.
- Check that every other survivor income source, such as a rental deed or the TSP-3, actually reaches your spouse.
Primary sources
This content is general information and education. It is not individualized investment advice, tax advice or legal guidance. Investing involves risk, including the possible loss of principal. Before making financial decisions, talk to a professional who understands your full situation.