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Q733: I get a monthly check from DFAS. Is that considered my pension or my retirement? I served 20 in the US Marines from June 79 to June 99.
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A1: Retirement. (GH) 6/11/21
A2: Retirement. (GB) 6/11/21
A3: The Defense Finance and Accounting Service oversees payments to Department of Defense servicemembers, employees, vendors and contractors. The Defense Finance and Accounting Services also provides Department of Defense decision makers with business intelligence, finance and accounting information. Click here. (KB) 6/11/21
A4: You are under he legacy retirement system, which is technically a pension. The military changed its retirement system to two different systems, depending on when you joined. If you joined before 01/01/2006, you stay in the legacy system. If you joined between 01/01/2006 and 12/31/2017, you could stay in the legacy system or enroll in the blended retirement system (BRS). If you join after 01/01/2018 you are automatically enrolled in BRS. So you receive your pension monthly and it is taxable. (DS) 6/11/21
A5: Retirement. (AF) 6/11/21
A6: Pension. (JE) 6/11/21
A7: I think that a pension is your retirement check; if you receive a different check from DFAS, it could be regarding a VA Disability benefit check. (BB) 6/11/21
A8: You served 20 years in the military. You get a monthly retirement pension for your 20 years. It's based on your highest pay, years in service and rank. It's approx 50% of your pay. 2 1/2% per year times 20 years equals 50%. (JH) 6/11/21
A9: DFAS is where your Military Retirement comes from. If you haven't you ol lie for disability and once you get that file for Combat Related Special Compensation. (GR) 6/11/21
A10: Response to A8. In hindsight, the legacy retirement/pension sucks. 50% of _base_ pay may only be 1/3 of gross pay. Many government employees, and especially firemen and cops, can retire at 20 years at 100%. Our retirement is criminally low. (EL) 6/11/21
A11: That is a pension. (JG) 6/11/21
A12: Wonder why a 20 year Marine (retired) has to asked such a question. (RC) 6/11/21
A13: It's your retired pay. If you served 20 and got a DD214 starting you were place on the retired rolls. Pensions/annuities are for people that get paid by the VA. (ET) 6/12/21
A14: It's both. Pension is a nice civilian term. Retirement is the military term. Call it what you want. (ME) 6/12/21
A15: The payment from DFAS would be your retirement. (AH) 6/12/21
A16: After 20 years it becomes retainer pay after 30 years it's retirement pay. Between 20 and 30 years you can be recalled to active duty very easy after 30 it's much more difficult. (RH) 6/14/21