Military Pay and Allowances Explained To understand military pay and allowances, you must first understand Basic Pay. Military members are offered Basic Pay for their time served, this is the salary for those in uniform. Most other payments above and beyond Basic Pay are either “special pay”, allowances, “incentive pay” or similar. Basic Pay does… Read more »
The Biden administration has proposed a 5.2% pay raise for military members, the largest in over 20 years. Find the proposed military pay charts for 2024 here to see how it impacts you.
Find out what’s in the latest version of the 2023 NDAA. Find military pay raises, new BAH, commissary subsidies, and inflation-fighting measures.
If you are in the National Guard or the Reserve, you earn points toward retirement while serving part-time and when called to active service. You qualify for military retirement as a member of a Reserve Component once you have reached 20 creditable years of military service. What does it take to make it to retirement… Read more »
Learn about the benefits available to service members during basic training, including healthcare, pay, and educational opportunities. Read more.
What is Continuation Pay in the Blended Retirement System? One of the key features of the “new” Blended Retirement System (BRS) is a feature called continuation pay. In short, continuation pay is a bonus-like payment given mid-career, for those enrolled in the BRS, in exchange for adding more years to their service. BRS Broken Down… Read more »
Banks and Credit Unions That Make Early Deposits for Active Duty Military As a standard rule, service members know their bi-weekly salary will get paid out on the 1st and 15th of every month. For instances when that date falls on a weekend, the pay gets moved to the closest weekday instead. However, there are… Read more »
The Pentagon’s new budget includes a 4.6% pay raise for military service members in 2023. This represents the highest increase in decades.
There will be an app that is coming out in mid-2022, that will make access to the TSP platform even easier. Also, there will be new tools such as a virtual assistant and virtual chat. There will also be a mutual fund window opening for the TSP. Learn more.
Military Benefits Questions Answered by VEP The Mission of the Veterans Education Project is to address the current issues that student veterans and service members face every day. They do this by reaching out to the veteran community, advocating for veterans with policy makers, and bringing every possible resource into the fight to support our… Read more »