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  • 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

  • COLA for Retired Pay

    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

  • Military Retired Pay Overview

    There are many financial considerations when planning for retirement

    The military (active duty) retirement system is arguably the best retirement deal around. Unlike most retirement plans, the Armed Forces offer a pension (technically a "reduced compensation for reduced services.") with benefits, that start the day you retire, no matter how old you are. That means you could start collecting a regular retirement pension as early as 37 years old. What's more, that pension check can grow with a cost of living adju... more

  • The Military Retirement System (Part 2)

    In Part One we looked the basics of each retirement system. In this article we'll break it down and provide you with some basic comparisons to assist you in making what could be the "choice of a lifetime."Eligiblity:If you entered the service after August 1986 you are eligible to choose either the High 36 retirement system, or the Career Status Bonus/REDUX (CSB) retirement system. If you decline to make a choice you will automatically receive ... more

  • Retired Pay Centers

    On the phone. Photo by Sgt. 1st Class Raymond J. Piper/Army

    The Defense Finance and Accounting Service (DFAS) operates the Defense Retiree and Annuitant Pay System (DRAS). The DRAS replaced the former systems performing military and annuitant pay processing through the Department of Defense. The system is a standard combined system. It uses advanced data processing techniques and telecommunications capabilities. The simplest and quickest way to manage your retirement account is through myPay , DFAS's ... more

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