The Defense Finance and Accounting Service (DFAS) establishes, maintains and pays military retirees, surviving spouses and other family members. Here are the 2022 and 2023 military retiree and annuitant pay dates. Military retiree paydays always fall on the first day of the month, except when the first day is a holiday or weekend. In those […]
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Military retirement means many different things– income, lifestyle, and spending changes. But what does it take to qualify for military retirement? This article focuses on the requirements for retirement eligibility rather than individual military retirement plans such as High 36, Redux, or the Blended Retirement program. There are some basic military retirement qualification rules–these are […]
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For Reserve and Guard service members, calculating military retirement pay is an important part of financial and life planning. Eligibility to receive military retirement pay is based on service points earned during service. Those points rely closely on the professional choices a service member makes. Do you need to know how to calculate Reserve or Guard […]
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Many members of the U.S. military seek to secure a federal job after they retire and separate from their branch of service. One of the most common questions these people have is whether or not you can draw a military pension and a civil service pension at the same time. Military retirement and civil service […]
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Military retirement calculators for retirement pay, BRS, High-3, Redux, COLA, Thrift Savings Plan, by service, comparison calculators and more. Military Retirement Compensation Calculators Service Specific Military Calculators and Resources USA.Gov – Find information on basic pay, pensions and retirement benefits for service members, veterans and military retirees, including whom to contact with questions and concerns. […]
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Here’s your 2022 list of all 50 states that exempt (or don’t exempt) military retirement pay. The laws differ depending on which of the 50 states you live in and some state tax laws are more complex than others. Depending on the state, you may pay no income tax whatsoever, or you may find your […]
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The 2023 survivors’ pension rates will see an 8.7% increase based on the Social Security Administration’s cost-of-living adjustment increase. Survivors’ pension rates for 2023 are effective Dec. 1, 2022. Annual COLA increases determine the payout for several military and veteran benefits, including survivors’ pensions. See our COLA increase watch for the most recent updates on […]
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2023 VA pension rates received an 8.7% cost-of-living increase, based on the Social Security Administration’s 2023 cost-of-living adjustment (COLA). 2023 VA pension rates took effect on Dec. 1, 2022. This article reviews the current VA pension rates and guidance on whether or not you may qualify. Veterans who qualify for a VA pension receive the […]
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Veterans and survivors who receive a pension from the Department of Veterans Affairs may be eligible for additional Aid and Attendance benefits if they live in nursing homes or need in-home care with everyday activities. Monthly Aid and Attendance payments supplement VA pension benefits for those who meet the basic qualifying criteria. What Is the […]
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Those who qualify for VA pension benefits are paid an amount based on the difference between your countable income and a limit that Congress sets called the Maximum Annual Pension Rate (MAPR). What is defined as countable income? This is basically how much money you bring in each month including retirement funds, investment dividends, Social […]
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