SUPPLEMENTARY RETIREMENT BENEFIT - LUMP SUM - 1 APRIL 2019

What did you ask them about? But honestly, it doesn't surprise me that the front line workers are uninformed, because it was years after the NVC was enacted, before VAC staff understood the differences between the PA and NVC, and who was eligible for what benefits.

I have learned, generally speaking, these type of new policy questions are difficult to find answers. We here, have some of the most knowledgeable individuals and in this forum and they don't have the answers. Even with research BIGREX has difficultly answering at times. New policies and changing directives at VAC often are in flux.
Sending an email via vac account to the BPA is likely one sure way to find answers. Takes time-i tried it!
I would suggest that some should have a friend call VAC and ask. IF you have a history of irritating the heck out of the staff they may seek ways to quickly end your call!

I spoke to vac....they have no idea what I’m talking about

i have been on elb for almost 11 years and i got a long way to go before 65 will be interesting to see how all this will play out.

Vet1234 wrote:no one has been on ELB for over 13 years.   I cant see a payment over 25k anywhere.

 I'm not sure where you are coming from. I don't think anyone has said that they have been on ELB for longer than 13 years, or that their SRB would be $25000. In fact, in order to get a SRB of 25K, their average ELB payment would have to have been over $8000/mo for those 13 years. Now, if the SRB was going to paid out, based on ELB that would have been earned, by age 65, then 25K is a very reasonable number.

bigrex,

I have only been on ELB since last Apr,

cheers,
SIGS

no one has been on ELB for over 13 years. I cant see a payment over 25k anywhere.

Well, ELB is changing into the IRB, and really the only change, instead of switching from ELB to the RISB program, when you turn 65, the IRB is merely reduced by 30%. It's actually an improvement, because f how the RISB used CIA and CIAS, to calculate how much you should get at age 65.


lets compare a severely disabled Veteran who is getting $5000/mo from ELB, plus grade 3 CIA, and CIAS,  under the two programs.

NVC before age 65 - $5000 (ELB) + 600 (CIA) + $1200 (CIAS) = $6800
NVC after age 65 - $6800 Total benefits - 30% = $4760, before deductions.

PFl before age 65 -IRB $5000 + $500 APSC + $1200 CIAS.
PFL after age 65 = IRB $3500 (70%) + $500 APSC + $1200 CIAS.= $5200/mo, before deductions


It's a significant drop at age 65, regardless, but under the IRB, it will allow the Veteran to keep several hundred dollars more, than under the RISB. And we can always hope, that someday, some future government, will eliminate the 30% deduction, as a way of improving the PFL.


Plus Sigs, you should now get the SRB payout, in April, but depending on how long you've been on ELB, it might not be very much.

bigrex,

I just read your comments,

i just was deemed DEC in Dec 18, and EELB what does this mean to me going forward,

thanks,

SIGS

Only if you are deemed DEC, and getting Extended Earning Loss. So if someone is, or was getting ELB, while going back to school, they will not be entitled to this SRB payout.

So what does this mean, anyone who is on ELB will be getting a lump sum?

Its only for ELB with VAC not sisip ! I was wrong!

Strange you say this: ELB every t4 i got from sisip says earning loss (EL) can you check yours and see if your says the same.
I am starting to question my comment on 2% at 65 from sisip. I will check next week. I hope your wrong for the good of all of us!

There was nothing in the SISIP policy about paying a SRB style payment, at age 65. If there was, it would have been included in the SISIP lawsuit.

hey buds just went through the SISIP policy and I see nothing regarding any 2% top up at 65.

propat