General Military Pay & Finance

Articles Index

Understanding Military Retirement Pay
The military retirement pay system used to be easy to understand. Then, in the 80's Congress started making changes, making the system a little more complicated.

Concurrent Receipt
As part of the FY 2004 Military Authorization Act, Congress has acted to phase out "concurrent receipt" for military retirees, with 50 percent or more disability, entitled to both retired pay and VA disability Pay. Here's how the phase out schedule is going to be implemented.

New Tax Relief Act Aids Service Members, Families
Legislation signed by President Bush on Veterans Day increases the death gratuity payment to $12,000 and provides that the full payment is tax-free. That portion of the Military Family Tax Relief Act of 2003 is retroactive to Sept. 10, 2001, to provide for service members who died in the terrorist attacks the following day and in the ongoing global war on terror.

New System Integrates Military Pay, Personnel Systems
A new Web-based system will integrate all of the services' military personnel and pay systems. The Defense Integrated Military Human Resources System will provide 'one-stop shopping' for service members when it is fully implemented. The Army will be the first user, with an initial operations capability set for November 2005.

Lending Scams Target Military
Drive close to any military installation, and you'll probably pass three pawnshops, and two Cash Advance and two Florida Internet businesses. Many of these companies are scams, targeting young, inexperienced military members.