You can choose to have a portion of your retired pay go to another institution through an allotment. This allows you to pay bills, insurance premiums, mortgages, etc., directly from your retired pay, just as you did on active duty.
At least 30 days prior to the date of your retirement, you should review your Active Duty myPay account, and make sure you have established all the allotments you would like to carry over with you into retirement.
It is important to verify your retirement pay will be sufficient to cover all your allotments. Some adjustment in amounts may be necessary to accommodate your Retired Pay without having a negative impact on your pay.
Any allotments that have been established for less than 30 days prior to the time of your retirement will have to be re-established. Some types of new allotments can be established through your myPay account.
Most other voluntary allotments can be started, stopped or changed by completing DD Form 2558 Authorization to Start, Stop or Change an Allotment. Please mail or fax completed forms to:
Defense Finance and Accounting Service
U.S. Military Retired Pay
8899 E 56th Street
Indianapolis IN 46249-1200
Fax: 800-469-6559
If you have questions about managing your allotment, call 800-321-1080.
Related Links:
More about allotments
Manage Your Retirement Using myPay
Page updated Nov 13, 2019