Military Pay Archive

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Military Salary - Pay Overview

overview af academy money

Currently, the military compensation system has over 70 separate types of pay and allowances -- that's a lot to keep track of. Fortunately everything you need to know from Basic Pay, to special pay and allowances (even retired pay) can be found right here. In general annual military pay raises are linked to the increase in civilian wages. However current laws governing annual pay raises no longer guarantee that military pay will be at automat... more

Combat Zone Tax Exclusions

Soldiers take up defensive positions after exiting a UH-60 Black Hawk helicopter.

If you are a member of the U.S. Armed Forces who serves in a combat zone (defined below), you can exclude certain pay from your income when determining your taxes. The following is a summary of combat zone tax exclusions: What Can be Excluded Partial (Month) Service Definition of Combat Zone Designated Combat Zones Serving in a Combat Zone Nonqualifying Presence in Combat Zone Qualifying Service Outside Com... more

myPay 2014 Tax Documents Schedule

Taxes

DFAS customers with myPay access (https://mypay.dfas.mil/mypay.aspx) will be able to obtain their tax statements online on the day they are posted using the secure and convenient pay management system. Additionally, military retirees and annuitants can download their 2014 account statements with information on wages, tax withholdings and allotment information. 2014 tax statement myPay and USPS mail schedule:    ... more

Thrift Savings Plan

The Thrift Savings Plan (TSP) is a Federal Government-sponsored retirement savings and investment plan. Congress established the TSP in the Federal Employees' Retirement System Act of 1986. The purpose of the TSP is to provide retirement income. The TSP is a defined contribution plan. The retirement income that you receive from your TSP account will depend on how much you have contributed to your account during your working years and the earn... more

2014 COLA for Retired Pay and Compensation

Vietnam veterans Robert Rivers and Daniel Brown

2015 COLA Watch: The 2015 COLA rate is officially set at 1.7%. This will mean an increase in military retirement pay, VA rates for compensation and pension for disabled veterans and surviving families, and social security recipients beginning in January of 2015. Cost-of-Living Adjustment Explained Each year Military Retirement pay, Surviver Benfit Plan Annuities, VA Compensation and Pensions, and Social Security benefits are adjusted for the... more

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