You can also update your Arrears of Pay beneficiary by completing a Designation of Beneficiary Information form (DD 2894). You can change your beneficiary or update beneficiary contact information at any time through myPay by clicking on the “Beneficiary for Arrears” link under “Pay Changes” in the menu on the left side of your account in myPay. You can easily check your Retiree Account Statement (RAS) to make sure your AOP designation is current. How to Check if the AOP Beneficiary Is Current Remember that the AOP payment is usually less than one month’s pay, and this amount will be divided among all of your designated beneficiaries. We suggest you limit the number of your AOP beneficiaries to avoid delays in payment. The amount of the payment owed is computed (based on the number of days in the month you were alive) and paid to your AOP beneficiary, along with any other money owed at the time of your death. This is because entitlement to retirement pay ends on the date of your death. The AOP is the pro-rated amount of your final month’s retirement pay. If changes need to be made to your Survivor Benefit Plan coverage, remember that DFAS needs a copy of the official documentation (marriage license, divorce decree, death certificate or birth certificate), along with the Survivor Benefit Plan Election Change form (DD2656-6) to update your account.Īs you know, after a retiree passes away, a one-time payment of their final paycheck is made to a beneficiary. The most important information for you to check includes: type of coverage, and date of birth of your spouse beneficiary (if applicable). The SBP section has information on it for members who participate in SBP. Your Retiree Account Statement (RAS), available in myPay, has information on it about pay, deductions, taxes and SBP. And some SBP changes have a one-year time limit for notifying DFAS. If you get married, divorced, lose a spouse, or have a child, that change can affect SBP premium payments. If you have elected SBP coverage, it is important for you to notify us as soon as possible when a beneficiary change occurs. Move beyond transactional financial management to proactive operations that enhance decision making, protect revenue, mitigate risks, and reduce costs. How Retirees Can Check if the SBP Beneficiary is Current
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Retirees choose whether or not to enroll in SBP and pay premiums for SBP coverage. If we don’t have correct beneficiary information and updated contact information, it can cause delays and financial hardship for your loved ones.Īs you know, SBP provides eligible beneficiaries an annuity, a monthly payment for the lifetime of the beneficiary. It is vital for you to notify DFAS of any changes in your beneficiaries or beneficiary information for the Survivor Benefit Plan (SBP) or for your Arrears of Pay (AOP).