Military Pay Archive

Showing 1 - 5 of 87 articles

Military Authorized Leave

airplane landing

Leave is a very important military benefit. Military members accrue leave at the rate of 2.5 days per month, this equals 30 days per year. Normally, you are authorized to carry over 60 days from one fiscal year (beginning October 1) to another. This means that if you have more than 60 days of unused leave on October 1, you will lose any days over 60. Under special circumstances the military may authorize you to carry over more than 60 days.If... more

Overview of VA Pensions

Retired veteran saluting soldiers.

Low-income wartime Veterans may qualify for pension if they meet certain service, income and net worth limits set by law; are age 65 or older, permanently and totally disabled, a patient in a nursing home receiving skilled nursing care, receiving Social Security Disability Insurance, or receiving Supplemental Security Income. Generally, a Veteran must have at least 90 days of active duty service, with at least one day during a VA recognized wa... more

Thrift Savings Plan

Saving

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

Computing Retired Military Pay

Passing on money

There are various provisions of law under which the computation may be made, but retired pay is generally computed either on length of service or on a percentage of disability. If you are retired for disability, you may elect to have your pay computed by either method. The following is a summary of what you need to know about computing retired pay: Calculating Your Retirement Pay Final Pay Retirement Calculator - for those entering service b... more

The Military Retirement System

Marine retirement

If you are considering making the military a career — or you have already made that decision, and just want to know more about your benefits — then this will be of special interest to you. This article looks at the current Military Retirement Systems and the choices facing most today's active duty members. The following is a summary of what you need to know regarding Military Retirement Systems: Military Retirement Overview Factor... more

© 2015 Military Advantage