Press Release From DFAS:
More than 2.3 million military retirees can get their new monthly electronic Retiree Account Statement, known as an eRAS, on myPay beginning Nov. 1.
The eRAS provides a complete summary of a military retiree's pay, deductions and benefits. The statement includes information about allotments, income tax withholdings, direct deposit information and a Survivor Benefit Plan (SBP) counter that shows plan members how much longer they have to pay premiums.
Previously, the Defense Finance and Accounting Service (DFAS) issued an annual RAS each December or when a retiree's pay, benefits or other account information changed. The new eRAS was created in response to customer requests for more frequent communication about their accounts.
"We've received a lot of feedback from military retirees who wanted to see a monthly breakdown of their pay and benefit information," said Colonel Ralph Lunt, deputy director of DFAS Retired and Annuitant Pay. "We looked at a number of ways to deliver what our customers want without increasing the DoD's already strained budget, and we decided an electronic monthly statement was the way to go."
Military retirees can view their eRAS by logging into myPay (https://mypay.dfas.mil), the official online account management system for military members and DoD employees. Retirees who do not have current user IDs or passwords for myPay can find instructions on how to get them at www.dfas.mil/retiredmilitary. Links to the instructions are located in the upper right hand corner of the Retired Military and Annuitants section under the myPay Login Instructions heading.
Retirees who choose to register their email addresses with myPay will receive an email notification every month when their eRAS is available. Additionally, keeping a current email address on record allows DFAS to email a new temporary password in the event one is forgotten or if the retiree suspects their password has been compromised.
DFAS officials encourage retirees to review their eRAS each month to verify that their pay and benefits are accurate and up to date. If a retiree finds that something needs to be updated while viewing an eRAS, most necessary account changes can be made in minutes using myPay. There's no need to wait until the Retired and Annuitant Pay Customer Care Center opens, or spend time waiting on hold.
myPay is available 24 hours a day, seven days a week from anywhere in the world and changes retirees make using myPay take effect in just three to five business days.
"Nearly 1 million military retirees are already seeing the benefits of going electronic," Lunt said. "They're using myPay to monitor their pay and survivor benefits, keep their accounts current and control their allotments, direct deposit and tax withholdings. It really empowers them to control where their pay is going."
According to Lunt, retirees who switch to myPay not only have hands-on control of their pay, but can receive their IRS Form 1099-R and other important documents sooner and more securely than those who rely on traditional mail delivery.