Greetings from Cleveland. We’re closing in on the end of the year. And what a year it’s been!
We’re quickly approaching tax season, a very busy time of the year. To make tax season easier, here are a few points every retiree and annuitant needs to know.
Your retired pay 1099-R tax document is already available in myPay and annuitant 1099-Rs will be available on December 19. Tax and other end-of-year documents will be in the mail no later than January 31, 2021.
If you use myPay, you could be starting on your taxes early in January with a 1099-R downloaded from your myPay account. myPay is the quickest and easiest way to access your account information. And you can manage your pay account on your computer, smartphone or tablet web browser.
If you’re not using myPay, it’s easy to get started. This newsletter has a great article on accessing your myPay account.
We need your help to pay you accurately and on time. Please check your account statement or check myPay at least once a year and ensure that your mailing address is correct. If you are a retiree, please check that your Survivor Benefit Plan beneficiary and Arrears of Pay beneficiary information are correct.
For retirees who are eligible for both CRDP and CRSC, January is Open Season. Check out the article in this issue and the new webpage with helpful Frequently Asked Questions (FAQs) about making changes to your election.
You might not be aware of all of the convenient options we provide for you to get the information you need regarding your retired or annuitant account, so we have outlined them in this issue. And speaking of convenient, there is information in this issue on the benefits of moving your discretionary allotments to your financial institution.
We also recently launched a new twice-yearly DFAS Survivor SBP Newsletter
, which focuses on news of special interest to survivors. We know that the laws and regulations governing military annuity pay are complex and can be difficult to understand. We will continue to share news of interest to survivors in our quarterly Retiree Newsletter, as well. We hope these newsletters, along with our other communications tools, will help to clarify annuity benefits.
Of course, the biggest news for survivors is the upcoming changes to the Survivor Benefit Plan that will eventually eliminate the offset for surviving spouses who are also receiving Dependency and Indemnity Compensation (DIC) from the Department of Veterans Affairs (VA). See the article in this issue for more details.
We are also working on some exciting new projects, coming in 2021. One involves new ways to notify you of the status of your account, including through email, if you have a current email address in your myPay account. Keep an eye on our website for news.
Finally, our website has a lot of helpful information. I hope you will take a few minutes to check it out: www.dfas.mil/retiredmilitary
Thank you for your service to our great country. We are proud to serve those who have served and we wish you and your family a safe and happy holiday season.
Page updated Dec 16, 2020