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  4. Manage Your SBP Annuity

    Manage your SBP Annuity

    As the beneficiary of a deceased military retiree's Survivor Benefit Plan, you can expect a payment every month.  The benefit, also known as an annuity, is usually paid for the rest of your life or until you become ineligible.

    Annual Certification of Eligibility

    Terms and Conditions of Your SBP Annuity

    As a new annuitant, you should educate yourself about the terms and conditions of your annuity.

    There are a number of reasons you could lose your eligibility to receive your annuity. Your payment could be temporarily or even permanently suspended.

    You also should be familiar with regulations that prevent you from collecting full SBP payments from DFAS while you are receiving Dependency and Indemnity Compensation from the Veterans Administration (VA).

    Please review the terms and conditions of your SBP annuity on the following page:

    Providing for Your Loved Ones: Educate Your Beneficiary

    Services for Annuitants

    Manage Your Account with myPay

    The quickest and most convenient way to manage your annuity pay is with myPay. This online account management system puts you in control of your own account.

    You can use myPay to view your SBP annuity account detail, change Direct Deposit information, change your mailing address, and print and view IRS forms, such as the 1099R.

    Annuitant Account Statement

    The Annuitant Account Statement (AAS) is issued annually through myPay or when changes are made to the account. Use it to verify payment, allotment and tax information, and to keep informed about your account.

    Taxes

    When you fill out a W4P and mail or fax it to DFAS Military Annuitant Pay, we will withhold Federal Income taxes from your annuity account. Every January, we will issue a 1099R statement that you will need to complete your tax return.

    R&A Pay cannot withhold state taxes for annuitants.

    Page Updated June 26, 2012