Q: Will I ever have my SBP coverage "paid-up"?

A: Congress has authorized a law which is not effective until Oct. 1, 2008, that will end the payment of SBP premiums when a retiree is age 70 and has paid into the SBP for 360 months (30 years). If a retiree with less than maximum coverage increased the level of coverage during an open enrollment period or after remarriage, the premiums will continue for the portion that represents the increased coverage even after termination of premiums for the original coverage. Paid-up participants will see their retired pay increase the month following full enactment (i.e., Nov. 1, 2008) or the month following completion of 360 months' of payment, whichever is later.