DFAS Retired Pay Newsletter -- Learn More About Your Retired Pay
 Hit Counter
Since 03-01-06

 

From: Waspscpo@aol.com [mailto:Waspscpo@aol.com]
Sent: Tuesday, February 28, 2006 7:41 AM
To: undisclosed-recipients:
Subject: DFAS Retired Pay Newsletter -- Learn More About Your Retired Pay 


 



The Director's Corner by Karl H. Bernhardt
"Welcome to the fourth issue of the DFAS Retired Pay Newsletter. This month you will find information on the National Defense Authorization Act (NDAA) impacting military retired pay, International Direct Deposit, security concerns and myPay advantages, 1099R and Retiree Account Statement (RAS) information, and the phased-in elimination of the Social Security Offset (SSO). You will also find a correction to some of the
answers provided in the January 2006 newsletter's CRSC Eligibility Frequently Asked Questions (FAQ) section. We apologize for any confusion this may have caused."


National Defense Authorization Act
The National Defense Authorization Act for Fiscal Year 2006, Public Law 109-163, was enacted January 6, 2006, and has some provisions that impact military retired pay. View the changes here.

International Direct Deposit NewsFor those members participating or considering International Direct Deposit, important information is provided here.


Security Concerns and myPay Advantages
 Recently, DFAS has received a number of messages from myPay users about the validity of email messages sent from SmartDocs@dfas.mil, myPay's electronic notification component, and the overall security afforded by any of the agency's online systems. DFAS is committed to protecting the information and privacy of its customers.  Learn more about this topic.

1099R Information
Reminder... effective September 1, 2004, all current myPay military retired users who request or already have a myPay Personal Identification Number (PIN) and access myPay are consenting to receive ONLY an electronic 1099R. Information concerning myPay can be found on the home page at https://mypay.dfas.mil. Learn more.


Social Security Offset
 The Survivor Benefit Plan (SBP), as originally enacted, provided an annuity equal to 55 percent of the annuity base amount until the annuitant reached the age of 62. Upon reaching the age of 62, the annuity was reduced by the Social Security Offset (SSO). Public Law 99-145, effective March 1, 1986, eliminated the SSO and created a two-tier method. Learn more about SSO.

CRSC Eligibility Correction...I
n the January 2006 Edition of the Retired Pay Newsletter, we inadvertently proveded some answers in the CRSC Iligibility Frequently Asked Question (FAQ) section that were based on the initial legislation effective June1, 2003. Learn more about legislative changes that became effective January 1, 2004.


The Retired Pay Newsletter is brought to you by the Defense Finance and Accounting Service. For more information, visit http://www.dod.mil/dfas/.
See our Privacy and Security Notice.

This email was sent by: Defense Finance and Accounting Services
8899 East 56th Street Indianapolis, IN 46249-2100
-----------------------------------------------------------------------
Contributed,
YNCS Don Harribine, USN(ret)