Deductions and Collections come in two forms: Mandatory and Voluntary. Mandatory collections can be a result of money being collected from your pay due to you being in debt to the U.S. Government (for example; Non-judicial punishment). Voluntary deductions are collections voluntarily being collected from your pay (for example; Allotments or Advance of Pay).
Here are just a few examples of Deductions that may be deducted from your pay...
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Deductions
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Collections
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Armed Forces Retirement Home (AFRH)
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Family Subsistence's Supplemental Allowance
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Debt due the U.S. Government
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Service member's Group Life Insurance (SGLI)
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Family Service member's Group Life Insurance (FSGLI)
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Combat Zone Tax Exclusion (CZTE)
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Interest Rates:
Change in Interest Rate for Debt Collections: The current interest rate for debt collections when a service member request debt proration is 5.25% (.0525). This rate is effective January 1, 2007 through June 30, 2007 .
The previous rate for the period July 1,
2006 through December 31, 2006, was 5.75 % (.0575). The rates for the last two calendar years:
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Period
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Rate
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Federal Register
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| Jan-07 - Jun-07 |
5.250 |
Volume 71, Number 250, 12/29/06 page 78513 - 78514 |
| Jul-06 - Dec-06 |
5.750 |
Volume 71, Number 126, 06/30/06 page 37638 - 37639 |
| Jan-06 -Jun-06 |
5.125 |
Volume 70, Number 247, 12/27/05 page 76497 |
| Jul-05 - Dec-05 |
4.500 |
Volume 70, Number 126, 07/01/05 page 38253 |
| Jan-05 - Jun-05 |
4.250 |
Volume 69, Number 250, 12/30/04 page 78522 - 78523 |
For additional information, please see your servicing Finance Office.
