The Department of Defense released its 2021 Basic Allowance for Housing (BAH) rates. BAH rates will increase an average of 2.9 percent when the new rates take effect on January 1, 2021. An estimated $23 billion will be paid to approximately one million Service members. BAH rates are based on local area rental market data […]
How do you feel about the proposed 3.0% pay increase? This will be effective on 1 January 2021 and you will see the reflection in your 15 January 2021 pay upon approval. Here is a sneak peak of the proposed military pay chart! ➡ MilitaryBenefits.info
In order to provide relief during the COVID-19 pandemic, a Presidential Memorandum was issued on August 8, 2020 to temporarily defer service members Social Security, as seen on Service Members Leave and Earnings Statement (LES) as “FICA-SOC SECURITY” tax withholdings. WHAT IS SOCIAL SECURITY TAX? Social Security tax is also called the Old Age, Survivors, […]
With all the different things that are happening in our world today and COVID taking us all by storm, some people may be feeling it harder than others. Many people may be suffering internally and we don’t even know it. There are resources out there that can help. Military OneSource, both a call center and […]
Benefit Fact Sheet Summary The Thrift Savings Plan (TSP) is a Federal Government-sponsored retirement savings and investment plan. It offers the same type of savings and tax benefits that many private corporations offer their employees under “401(k)” plans. Blended Retirement System (BRS) Members of the Uniformed Services If you are a member of the uniformed services […]
Service members enrolled in the Blended Retirement System (BRS) may be eligible to receive a one-time, mid-career bonus payment in exchange for an agreement to perform additional obligated service. This one-time bonus payment is in addition to any other career field-specific incentives or retention bonuses. Continuation pay is a direct cash payout, like a bonus, […]
