How Do I Check My Military Retirement Pay?
As a military retiree, it’s essential to stay informed about your retirement pay to ensure you receive the correct amount and plan your finances accordingly. Here’s a step-by-step guide to help you check your military retirement pay:
Understanding Military Retirement Pay
Before we dive into the process of checking your military retirement pay, let’s quickly review how military retirement pay works. The Department of Defense (DoD) calculates your retirement pay based on your rank, years of service, and final basic pay. The formula is as follows:
- 20% of your final basic pay for each year of service, up to a maximum of 40 years.
- 3.5% increase for each additional year of service beyond 20 years.
How to Check Your Military Retirement Pay
Now that you understand the basics of military retirement pay, let’s move on to the process of checking your retirement pay. Here are the steps:
Online
You can check your military retirement pay online through the Defense Finance and Accounting Service (DFAS) website. Here’s how:
- Log in to the myPay portal with your username and password.
- Click on "Retirement" from the menu.
- Select "Retirement Payment" to view your retirement pay information.
- Review your pay details, including your monthly payment amount, payment date, and any deductions.
Mobile App
You can also check your military retirement pay using the myPay mobile app, available for both iOS and Android devices.
Phone
If you prefer to check your retirement pay over the phone, you can call the DFAS Retirement Pay Hotline at 1-800-321-1080. Be prepared to provide your Social Security number and other personal information.
If you prefer to receive a paper statement, you can request a Retirement Pay Statement by mailing a request to:
Defense Finance and Accounting Service (DFAS)
Retirement Pay Hotline
P.O. Box 7130
Indianapolis, IN 46207-7130
Types of Retirement Pay
Military retirees receive different types of retirement pay, including:
- Basic Pay: Your monthly retirement pay amount, calculated based on your rank and years of service.
- Specialty Pay: Additional pay for certain military specialties, such as pilots or linguists.
- Bonus Pay: One-time payments or bonuses for completing certain training or serving in specific areas.
- Disability Pay: Additional pay for military retirees with service-connected disabilities.
Common Retirement Pay Questions
Here are some common questions and answers about military retirement pay:
- Q: Can I change my retirement date?
- A: Yes, you can change your retirement date up to 90 days before your scheduled retirement date. Contact your Personnel Officer for more information.
- Q: Can I receive both military and civilian retirement pay?
- A: Yes, you can receive both military and civilian retirement pay, but you’ll need to report your civilian income to the DFAS to avoid overpayment.
- Q: Can I increase my retirement pay?
- A: Yes, you can increase your retirement pay by completing additional service, earning promotions, or switching to a higher-paying career field.
Conclusion
Checking your military retirement pay is a straightforward process, and there are several ways to do so. By understanding how your retirement pay is calculated and staying informed about your pay, you can plan your finances effectively and enjoy a comfortable retirement. Remember to review your pay regularly and report any changes to the DFAS to ensure accurate payment.
Additional Resources
- Defense Finance and Accounting Service (DFAS): www.dfas.mil
- myPay Portal: mypay.dfas.mil
- Retirement Pay Hotline: 1-800-321-1080
Table: Military Retirement Pay Calculation
| Rank | Years of Service | Basic Pay | Specialty Pay | Bonus Pay | Disability Pay | Total Retirement Pay |
|---|---|---|---|---|---|---|
| O-1 | 20 | $3,500 | $500 | $0 | $0 | $4,000 |
| O-3 | 25 | $5,000 | $1,000 | $1,000 | $0 | $7,000 |
| O-5 | 30 | $7,500 | $2,000 | $2,000 | $1,000 | $12,500 |
Note: The figures in the table are for illustrative purposes only and may not reflect actual retirement pay amounts.
