SBP Annuity Goes to 50 Percent

Annuitants of the Survivor Benefit Plan age 62 or older who are not already receiving 50 percent of the base amount will find their May checks raised to 50 percent effective April 1. Originally beneficiaries received 55 percent of the base amount until age 62, then the annuity was reduced for most beneficiaries to 35 percent. Under a change in law, Congress phased the 35 percent back to 55 percent in 5-percent increments. The April 1 increment from 45 percent to 50 percent will be followed by a return to the full 55 percent April 1, 2008.