The Director’s Corner by Karl H. Bernhardt
“Welcome to the 9th issue of the DFAS Retired Pay Newsletter. A fact sheet on the DVA retroactive pay is included in this issue, along with Frequently Asked Questions concerning the subject. Are you aware that DFAS participates with the Services in holding Retiree Seminars throughout the year at various locations? Read more from the director.
Retroactive payments of Combat-Related Special Compensation (CRSC) and/or Concurrent Retirement and Disability Pay (CRDP)
The Defense Finance and Accounting Service (DFAS) and the Department of Veterans Affairs (DVA) have finalized the plans to provide eligible retirees with their “complete” DoD military retirement entitlement to Combat-Related Special Compensation (CRSC) and/or Concurrent Retirement and Disability Pay (CRDP) and /or DVA disability compensation entitlement. Potential retroactive pay is due for more than 100,000 retiree accounts. Learn more about retroactive payments.
Survivor Benefit Plan (SBP) Open Season Update
The current SBP Open Season will close on September 30, 2006. The Open Season ran from October 1, 2005 through September 30, 2006. For those still considering, all SBP election forms must be postmarked no later than September 30, 2006. More information about the survivor benefit plan can be found here.
Retiree Seminars and Conferences
Are you aware that DFAS participates with the Services in holding Retiree Seminars throughout the year at various locations? These seminars are typically one day and provide a forum for updating retirees and annuitants on retired and annuity pay matters as well as issues such as legislative updates, TRICARE, and VA. Read more about seminars and conferences.
Keeping Your Records Updated
In order to prevent unfortunate situations, it is imperative that an updated beneficiary form is on file with DFAS. Too often we hear from surviving spouses claiming they did not receive the retired pay for the portion of the last month in which their retiree spouse was alive. This occurs due to the fact that the money went to someone else whom the member had named as beneficiary at retirement. Learn more here about keeping your records updated.
VA RETRO AWARD FAQ’s
Some frequently asked questions regarding your VA Retro award can be found here.
