Military Retirement from USAA

mickeyd · 09-08-2007, 12:57 PM

Most military folks have many considerations and many references regarding retirement. This is one more.

https://statmc.usaa.com/mcontent/sta..._08_2007_09-11

SoonToRetire · 09-08-2007, 08:33 PM

Don't know if it's been posted, but for military retired who chose SBP, the law was changed so it's paid up at age 70, if it's been paid for at least 30 years. So that's another 200+ a month, something to look forward to at 70.

Nords · 09-09-2007, 01:03 AM

Quote:

Originally Posted by mickeyd

Most military folks have many considerations and many references regarding retirement. This is one more.

Thanks, Mickey, that's one of the best retirement-system summaries I've ever read.

Considering that the CSB/REDUX cohort is just starting to retire, I'm surprised (and gratified) to see USAA explain it so well.

packrat44 · 09-09-2007, 06:54 PM

Rejected SBP. Told DW I wanted to be worth more alive than dead. No use giving her any ideas.

Nords · 09-09-2007, 09:46 PM

Quote:

Originally Posted by packrat44

Rejected SBP. Told DW I wanted to be worth more alive than dead. No use giving her any ideas.

Well, technically she's the one who had to agree to sign the papers and reject it!

Spouse agreed that she didn't want any SBP from me, either, and she expects to have a bigger pension than me. I don't see any reason to pay for SBP from her since she'll probably outlive me anyway.

What about life insurance? AFAIK we don't have any of that on me either...

packrat44 · 09-09-2007, 11:30 PM

Quote:

Originally Posted by Nords

Well, technically she's the one who had to agree to sign the papers and reject it!

Spouse agreed that she didn't want any SBP from me, either, and she expects to have a bigger pension than me. I don't see any reason to pay for SBP from her since she'll probably outlive me anyway.

What about life insurance? AFAIK we don't have any of that on me either...

She signed without a fuss. With our age difference it would result in a 15% reduction. At the time she signed, the spouse would only receive 35% at the time they turned 62. (That changed later.) Since we have long life on both sides of the family, we figured it would be low risk to invest what would have been paid for the premiums.

Do not have any life insurance either. No debt and kids through college and in productive jobs.

OAG · 09-10-2007, 07:11 AM

15% SBP taken in 1979 Premium free in 2010 (70th birthday). Took the "hassle free" amount (no spousal consent needed at that time for the minmium). Life Insurance: Just a very small policy that was taken from AAFMAA which became premium free in 1996; taken solely for the "dependents assistance" service provided for the spouse. Actually, I do expect the wife to draw the SBP and it will probably actually pay her monthly utilities for the house (maybe).

Mickyd: thanks for the link, USAA does a good job on just about everything they do.

WM · 03-13-2008, 06:26 PM

This is a great booklet, thanks for posting it! I don't know how I missed it when you first put it up. DH will be getting to the 15-year point before too long and way in the back of my mind was that I'd need to figure out about the high 3 vs redux issue. Problem solved! Plus a good explanation of the SBP!

I'm definitely saving it for future reference...

oma · 03-14-2008, 03:52 AM

Quote:

Originally Posted by mickeyd

Most military folks have many considerations and many references regarding retirement. This is one more.

https://statmc.usaa.com/mcontent/sta..._08_2007_09-11

Downloaded and printed. Thanks-

09-08-2007, 12:57 PM	#1
mickeyd Thinks s/he gets paid by the post Join Date: Apr 2004 Location: South Texas~29N/98W Posts: 2,290	Military Retirement from USAA Most military folks have many considerations and many references regarding retirement. This is one more. https://statmc.usaa.com/mcontent/sta..._08_2007_09-11 __________________ Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx In dire need of: faster horses, younger woman, older whiskey, more money.

09-09-2007, 06:54 PM	#4
packrat44 Full time employment: Posting here. Join Date: Jun 2007 Posts: 542	Rejected SBP. Told DW I wanted to be worth more alive than dead. No use giving her any ideas. __________________ Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.

09-10-2007, 07:11 AM	#7
OAG Thinks s/he gets paid by the post Join Date: Jun 2006 Location: Dublin, Ohio Posts: 1,824	15% SBP taken in 1979 Premium free in 2010 (70th birthday). Took the "hassle free" amount (no spousal consent needed at that time for the minmium). Life Insurance: Just a very small policy that was taken from AAFMAA which became premium free in 1996; taken solely for the "dependents assistance" service provided for the spouse. Actually, I do expect the wife to draw the SBP and it will probably actually pay her monthly utilities for the house (maybe). Mickyd: thanks for the link, USAA does a good job on just about everything they do. __________________ Proud Vietnam Veteran: Cu Chi 66, 1/25th, HHC 25th and Pleiku 66-67 41st Sig Bn 1st STRATCOM

03-13-2008, 06:26 PM	#8
WM Recycles dryer sheets Join Date: Jan 2007 Posts: 288	This is a great booklet, thanks for posting it! I don't know how I missed it when you first put it up. DH will be getting to the 15-year point before too long and way in the back of my mind was that I'd need to figure out about the high 3 vs redux issue. Problem solved! Plus a good explanation of the SBP! I'm definitely saving it for future reference... __________________

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09-08-2007, 08:33 PM	#2
SoonToRetire Full time employment: Posting here. Join Date: Aug 2002 Location: Virginia, and Caribbean snowbirds in winter Posts: 853	Don't know if it's been posted, but for military retired who chose SBP, the law was changed so it's paid up at age 70, if it's been paid for at least 30 years. So that's another 200+ a month, something to look forward to at 70.

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