Seventy-three-year-old Arthur Gerald Jones will also serve five years probation to avoid a trial.
Jones was discovered in Las Vegas after disappearing over 30 years ago. He was arrested in July after trying to renew his Nevada driver's license.
Jones left his job at the Board of Trade back in 1979 and moved to Las Vegas.
Eventually he was declared legally dead and his family got $47,000 in Social Security benefits.
Jones will have to pay back the money.