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Check Military Retiree Beneficiaries
Posted By bobfrank On January 27, 2008 @ 16:39 In Veterans Affairs, Clubs & SIGs | 2 Comments
Military Retirees: The following item is provided for your information.
Nelson Orth has reported that a personal friend recently received his Military Retiree Account Statement and the beneficiary listed on the back of the form had been changed to a name he did not recognize.
Nelson’s friend has not yet learned how such a serious error could occur, but it is clear that all military retirees and their survivors should review the back of their Military Retiree Account Statements and verify whom they have designated as the beneficiary in the event of their death.
Military survivors may find it extremely difficult and expensive to correct such an error if they do not catch it beforehand.
Bob Frank
2 Comments To "Check Military Retiree Beneficiaries"
#1 Comment By McCarthy On January 27, 2008 @ January 27, 2008
Just to reemphasize how important Bob’s advice is, Title 10 United States Code provide no relief if a veteran’s beneficiary is listed incorrectly. The position of the code is these documents take primacy over a will or other stipulation. I would also recommend if a retiree has not established an automated “MyPay” account, do so immediately. That way you can periodically review your statements on line. We have found this particularly important since my wife (as a retired officer) has here own benefits not attached to a dependency status.
#2 Comment By McCarthy On January 27, 2008 @ January 27, 2008
Quick calrification. The law provides no relief AFTER THE DEATH of the member. Get them corrected ASAP
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