Something rare is going on in the military community. Right now, until the end of 2023, there is an Open Season for the Survivor Benefit Plan. It’s part of the 2023 National Defense Authorization Act (NDAA) enacted by Congress. The SBP is one of the biggest decisions you make retiring from the military, one that can have a lasting impact on your retirement money. If you weren’t happy with the decision you made at retirement, now’s your chance for a redo.
In this episode, Heather Walrath breaks down what the Survivor Benefit Plan is, what the open season is, what factors you should consider, and how to make a decision that works for you and your family.
Heather is an Accredited Financial Educator who has enjoyed working with military members and families for the last 14 years while empowering them with financial education. She’s a 2009 FINRA Military Spouse Fellow and holds a BA in economics from the University of Georgia and a paralegal certificate from the Denver Paralegal Institute. She is also an accredited Veteran’s Service representative. Heather has worked as a Personal Financial Counselor (PFC) with all branches of the military, including the Guard and Reserve components, as part of both the non-profit education sector and the Department of Defense PFC network. She is considered to be a subject matter expert on military survivor benefits and has been a featured contributor to magazines such as Military Spouse, Military Family, Guard, and Reserve Magazine. Heather currently works at Navy Mutual Education and Veterans Services as an Accredited Financial Counselor® and an Accredited VSO.
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Survivor Benefits Plan Open Season Episode Details
- SBP Basics
- Details about adding children and how it works
- Importance of understanding the value of your specific benefits
- How to enroll in SBP
- What is the SBP open enrollment season?
- Why there is an open season this year
- Importance of knowing your family’s needs
- Divorce and SBP
- Tools available to help you make an informed decision
Related Benefits: How to Get the Most Out of Your TRICARE Benefits
Survivor Benefits Plan Open Season Resources
More Podcast: Survivor Benefit Plan FAQs
Reserve Your Pass for #MilMoneyCon23
MilMoneyCon is the annual event for financial professionals united by military service. Its mission is to bring service members, veterans, and military spouses together to build and progress their careers, continue their education, and grow their earning power as practicing or rising financial professionals.
MilMoneyCon23 is happening April 27-29, 2023, in Nashville, TN. Attending the annual conference gets you connected with the biggest community of military financial planners, coaches, counselors, candidates, and educators. It’s a place to find employment and money-making opportunities, increase earning power, and continue your education.
Reserve your pass at https://milmoneycon.com.
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