It’s Time for a Retired Pay Account Checkup
It’s important to regularly review and update your retired pay account. Keeping your account current will ensure that we can get in touch with you if there is information you need to know about your retired pay and help make sure that outdated information doesn’t cause difficulties for you or your loved ones down the road.
Use this handy roadmap to perform a retired pay checkup at least once a year.
1. Is your mailing address current?
You might be surprised to learn that we get a lot of returned mail. If you’ve moved and haven’t told us, we won’t know how to reach you. Let's keep the lines of communication open! Log in to your myPay account and check your “Correspondence Address” under “Pay Changes” on the side menu as part of your annual account check-up: https://mypay.dfas.mil
2. Do you have a current email address in myPay?
Make sure we have an email address in myPay and that it is current. Email is our easiest and fastest way to communicate with our members. If we have your email address, you will hear news faster.
Take a minute right now and check to make sure your email address(es) are current. At the top of your myPay account menu, select “Personal Settings” and then in the side menu on the left, select “Email Address” to view the email address(es) you have on file with us. Make sure you indicate the primary email address you want us to use, and check the box to indicate if the address is still valid. Delete any old email addresses you no longer use.
3. Is your federal and state income tax withholding correct?
If your income changes, you move to another state, or there are changes in the tax laws, you should look at the federal or state income tax withholding information we have in your account. Don’t wait until tax season to discover your withholding is incorrect!
You can verify and update your tax withholding information yourself in myPay. Click on “Federal Withholding” or “State Withholding” under “Pay Changes” in the menu on the left to see if your withholding is correct.
4. Are your allotments correct?
Review your allotments at least once a year. Look under “Pay Changes” for “Allotments” in the menu on the left side of your myPay account. Check each allotment and the allotment amounts. Make sure each allotment is current and the amount is correct.
Please keep in mind that some allotments cannot be changed using myPay. Some of the common allotments that cannot be changed using myPay include FEDVIP, Tricare and NSGLI. If you have a question about any allotments that you cannot change on myPay, please contact that company or organization directly.
5. Have there been changes in your family?
If you get married, lose a spouse, or have a child, the change can affect your account. You may need to change your income tax withholdings or notify us to change your Survivor Benefit Plan information.
If there have been any changes in your family, please send us a copy of the official documentation (marriage license, divorce decree, death certificate or birth certificate), as well as a request for how you want us to update your account.
Always notify DFAS as soon as possible about a major life change. You can fax your documents to 1-800-469-6559 or mail them to DFAS, 8899 E 56th Street, Indianapolis, IN 46249-1200. Make sure your Social Security Number is clearly visible on each document so we can identify your account to update it.
6. Is your Arrears of Pay beneficiary correct?
Who did you choose as a beneficiary for any arrears of retired pay that may be due when you pass away? Make sure your designation is current and confirm that your beneficiary’s address is up to date.
You can check this information by clicking on the “Beneficiary for Arrears” link under “Pay Changes” in the menu on the left side of your account in myPay. You can make changes to your designation and update their address information through myPay.
7. Is your Survivor Benefit Plan (SBP) coverage and beneficiary(ies) correct?
Your Retiree Account Statement (RAS), available in myPay, has a lot of information on it about your pay, deductions, taxes and SBP. The SBP section has five lines on it for members who participate in SBP. The most important for you to check: your type of coverage, and date of birth of your spouse beneficiary (if applicable). See the article in this issue, Checking Your SBP Coverage on Your Retiree Account Statement, for more details on how to verify your SBP coverage using your RAS.
So pick a date! It doesn’t matter if it’s April 15, your retirement date, your birthday, or the first of the year. Set a yearly reminder to look over your information to make sure your account is up to date!
Page last updated on June 20, 2019