If you are retiring from the military on a military pension or retirement plan, consider where you want to retire so you can minimize the taxes taken from your pay. Many statesdo not taxmilitary retirement income and are considered the most tax-friendly for military retirees. Some states have...
On either Memorial Day weekend or Veterans Day weekend, Colonial Williamsburg offers complimentary admission once annually for active-duty military, Reservists, National Guard personnel, retired military and veterans and up to three direct dependents. Dorney Park All active and retired members, including...
Your DIEMS is the date you initially entered military service and acquired military status–this determines whether you’re eligible for High-3 Legacy or the Blended Retirement System. Fields 25 to 32 contain your leave information. Here is a quick breakdown: BF BAL is your leave balance from...
If you happen to need a copy ofmilitary pay rates for earlier yearsfor some reason (such as locating the pay table in effect on thedate of your retirementfor calculating your military retirement pay, or on thedate of your divorcefor calculating the amount payable to a former spouse), those...
Another key part of your budget will be funding your retirement savings. Set a goal of saving at least 10% of your income for retirement. If you have debt or other competing financial obligations, you may not be able to do the entire amount. But starting small is better than not starting...
Katy Marquardt has been a reporter, writer and editor in consumer journalism for more than 20 years, covering topics including personal finance, investing, retirement, careers and real estate. Read more Mark Evitt, Senior Editor Mark Evitt is a senior editor on the Credit Cards, Loans and Banki...
24. RET PLAN: This field indicates which retirement plan applies to the service member Fields 25 through 32 have leave information. 25. BF BAL: This is the current balance of leave going forward. It may have started at the beginning of the fiscal year, when active duty began, or the ...
TheThrift Savings Plan (TSP)is a retirement savings plan for federal employees, including military personnel. You can contribute a portion of your pay to the TSP, and the government may match a percentage of your contributions. Enroll and manage your TSP account through the TSP website. ...
First, the money is tax-free, so veterans who qualify for retirement can accept VA compensation instead and save on taxes. In some cases, veterans can get both retired pay and VA compensation. A disability status can also save you money on tolls, property taxes or other state programs and...
TheTSPis a retirement savings plan similar to a 401(k) for federal employees, including military members. It offers various investment options and tax advantages. See 3,000+ New Gun Deals HERE 9. How do I contribute to the TSP? You can elect to contribute to the TSP through theMyPayporta...