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posted Mar 14, 2025 11:32:16 PM

Is the military Survivor Benefit Plan (SBP) considered a qualified or non qualified annuity? Note, premiums for SBP are non-taxable.

Understand military retired pay is non qualified, but SBP annuities appear to have elements of both qualified and non qualified annuity plans. Confusing at best

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1 Replies
Expert Alumni
Mar 17, 2025 10:34:30 AM

The military Survivor Benefit Plan does not meet all the requirements to be a qualified plan.  The plan is non-qualified.  Yes, the premiums were paid pre-tax from the military retirement pay and thus taxable at benefit distribution. Beneficiaries will receive a 1099R to be reported on the tax return.  When asked in the follow on questions in the 1099R entry section in TurboTax, you would select "non-qualified plan."