Please note that this article is not to be considered financial advice. Consult a financial professional before making decisions about accessing military retirement funds. What follows is a description of a program that permits Veterans to access military retirement funds early, and should not be confused with encouragement to do so. That is a decision […]
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The Department of Veterans Affairs offers a Survivors Pension benefit, also sometimes known as a Death Pension, to qualifying surviving spouses and certain qualifying dependents. This is a tax-free VA benefit intended to help “a low-income, un-remarried surviving spouse and/or unmarried child(ren) of a deceased Veteran with wartime service” according to the VA. This is […]
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How do VA survivor pensions work? Who is eligible for them? This benefit is made available from the Department of Veterans Affairs to qualifying, low-income children or surviving spouses of military members. These military members must have died with wartime service listed in their military records for the spouses to be eligible to apply for […]
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According to the Department of Defense, Active duty military members who have served less than 12 years as of Dec. 31, 2017 are eligible to opt in. For Reservists, opt-in eligibility is for those who have “less than 4,320 retirement points” as of Dec. 31, 2017. How Much Longer Will The High-3 Legacy Retirement System […]
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When the Department of Defense (DoD) announced the Blended Retirement System (BRS), there were assurances that no member of the U.S. military would be automatically transferred to BRS from the legacy “High-3” retirement plan. Service members are required to opt-in from High-3 to BRS if they qualify to do so, and were given the entire […]
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The Blended Retirement System, also known as BRS, takes the place of the “legacy” military retirement system effective Jan. 1, 2018. As of that date, those who served after Dec. 31, 2005 (but before 1 January 2018) have a choice to make: opt into BRS or remain in the legacy retirement system. Those serving on […]
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The passage of the 2016 National Defense Authorization Act was a milestone for the military when it comes to retirement planning, thanks to the creation of the Blended Retirement System (BRS) as part of that legislation. This new retirement system (effective as of 1 January 2018) does not change the “basic qualifications” for military retirement, […]
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Military retirement pay is intended to recognize the selfless dedication to a career in the military. While important, calculating Military retirement pay benefits depend on individual circumstances determined by the circumstances below. Those who served in the military (Active Duty, Reserves or Guard), for a typical length of at least 20 years, will receive military retirement pay. This […]
Read More2013 Military retiree and annuitant pay schedule provided by the DFAS (Defense Finance and Accounting Service. Military Retiree paydays are always on the 1st day of the month except when the first day is a holiday or weekend. In those cases the pay date will be the first business day prior to the holiday or weekend that […]
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Here is the military retiree and annuitant pay schedule for 2012 provided by the DFAS (Defense Finance and Accounting Service. The paydays are always on the 1st day of the month except when the first day is a holiday or weekend. In those cases the pay date will be the first business day prior to […]
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