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.
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 »
As a provision of a new law, the Basic Needs Allowance will provide assistance to low-income military members with dependents. Learn more.
A bipartisan push in Congress could provide nearly 42,000 combat-injured veterans with expanded retirement benefits. They would be eligible to receive both disability compensation and retired pay. The bill, if passed, would allow disabled veterans who were medically retired before serving 20 years to receive their full military benefits.
Payback Deadline for Deferred Social Security Tax Extended With the passing of the Consolidated Appropriations Act of 2021 just last week, the major change affecting service members, federal employees, and their families is the extension for repayment of deferred payroll taxes. Effective September 1, 2020, through a presidential order, military and federal employees’ paychecks presented… Read more »
DFAS myPay The United States Military works hard to ensure that the individuals that make up its branches are provided for in all areas of life such as housing, healthcare, and finances. The Defense Finance and Accounting Service (DFAS) is an agency of the United States Department of Defense (DOD), headquartered in Indianapolis, Indiana. DFAS… Read more »
Delayed Entry Program Advancement and Enlistment Bonuses Earn a promotion before you even ship to boot camp. Recruits who spend time in the Delayed Entry Program/Future Soldiers Program can earn the rank of E-3 by completing a few tasks while hanging around the recruiting station. The easiest way to get your first promotion to E-2… Read more »
There is a possible change coming for members of the National Guard and the Reserves. Elected officials want to ensure that even part-time service members are receiving full credit for the work that they do. In February, a group of both Republican and Democratic senators introduced a measure that would do just that. Called, the… Read more »