retirees should be allowed to receive both military retired pay and any VA disability compensation to which they are otherwise entitled; this is referred to as 'concurrent receipt.' Until now, the law provided
Uniform Deduction:You may be able to deduct the costs of the purchase and upkeep of your uniforms. These uniforms must be those that you cannot wear if you are off duty. If you get an allowance for your uniform, your deduction must be reduced by that allowance amount. Educational Expenses:...
• DISABILITY PAY : Based on disability rating • VETERANS GROUP LIFE INSURANCE : Coverage and Premium • FEDERAL TAXES : Based on filing status ** Note ** Information provided by Military Retirement should be used for educational and initial informative purposes only. Should not be used to...
For instance, if someone retires at age 40, their lump sum would equal one-quarter or half of that reduced amount of total retirement pay they would otherwise receive monthly between ages 40-67. They would receive that lump sum in addition to smaller monthly payouts. Then their ...
TheREDUX retirement systemgave military service members a choice at their 15-year service mark between the High-36 plan and the REDUX plan, which offers reduced benefits. Eligibility for the REDUX plan was limited to those who entered service between August 1, 1986 and January 1, 2003 and who...
2025 Military Retirement Pay Increase The cost of living adjustment for Social Security checks, VA disability compensation, and other government pension and benefit programs in 2025 jumped 2.5%. COLA raises for Social Security benefits and certain other benefits are automatic. However, each year Congre...
Retirement Savings by Age See how you stack up against your peers when it comes to retirement savings. Erica SandbergApril 30, 2025 Why Social Security Payments Are Delayed It isn’t common, but there are times when your Social Security payment could be delayed. ...
disability pay for active duty somemoving expenses living allowances Also, tax debt may be forgiven or refunded if a member of the military dies in a combat zone, or from terrorist activities or other military action. If you are in the military, consider reviewing the IRS tax booklet, ...
retirees with 20 or more years of service that have “combat related” VA-rated disability will no longer have their military retirement pay reduced by the amount of their VA disability compensation. Instead, they will receive both their full military retirement pay and their VA disability ...
Before then, advocates said it was challenging for veterans to prove their sickness was related to their service in order to receive disability compensation. ‘In both those instances, and for many other military toxic exposures, it took decades for the VA and Congress to finally act,’ ...