JUNE 7, 2021 - All Sailors enrolled in the Blended Retirement System qualify for incentive pay at the 12-year “mid-career” point. The Navy released the calendar year 2022 Blended Retirement System (BRS) continuation pay (CP) rates for eligible Sailors June 3rd in NAVADMIN 114/21. Under BRS, Sailors participate in a modernized retirement program. Throughout their … [Read more...]
Buying a Home As a Veteran: 4 Things You Should Consider
Buying a home is no small feat. Not to mention, as a former military service member, there’s a lot to consider before taking this big step. From the location to the house size, making this choice will require careful planning ahead. Here are just a few things you should consider before you begin your house search. Your Loan Options Applying for a loan is an important step … [Read more...]
New W-4 Form; What You Need To Know
MARCH 4, 2021 - The Internal Revenue Service has issued a new W-4 form for filing year 2020. It is substantially different than its predecessor. The revision is the result of the Tax Cuts and Jobs Act of 2017. The new design reduces the form’s complexity and increases the transparency and accuracy of the withholding system. A “withholding” is the amount of money taken out … [Read more...]
Soldiers, Civilians to Repay Tax Deferments Through December 2021
DECEMBER 31, 2020 - The Defense Finance and Accounting Service is planning to extend payroll collections for Soldiers and Army civilians through December 2021 to reimburse a tax deferment designed to support personnel during the COVID-19 pandemic, officials said. A presidential memorandum signed in August temporarily paused a portion of Social Security, called Old Age, … [Read more...]
Scholarships for Military Children Program Opens Dec 14th
DECEMBER 11, 2020 - The Scholarships for Military Children Program for academic year 2021 – 2022 begins accepting applications Dec. 14 this year. Applications are due by Feb. 17. The program, now entering its 21st year, recognizes the contributions of military families to the readiness of the fighting force and celebrates the commissary’s role in enhancing military quality … [Read more...]