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TIPS & CLIPS

Tips and Clips

If you are a Veteran in Crisis DFAS has a new Survivor SBP Newsletter! Check out the
reach out the VA by calling first issue, with lots of news and helpful info for survivors/
1-800-273-8255. You can also SBP annuitants. Learn all about the upcoming changes to
go to veteranscrisisline.net and the SBP-DIC offset, when you’ll get your tax statements,
click on the Chat link or text the new School Cert process, our helpful form tools and
838255. It is available 24/7. more! Get it here: https://go.usa.gov/x7eMc

Retirement Pay:
Joanne Elliott, YNC How to Apply: The (PSD) office. They will provide you with a copy of the
National President Retirement Process Data for Payment of Retired Personnel Form (DD 2656)
Once you have identified your and offer you assistance in filling it out.
target separation date, your retirement process should
include: Form DD 2656 is the most important document you
1. The pre-retirement package will complete in preparing for your retirement. As you fill
2. Assembling necessary documents it out, you will make decisions that will determine:
3. Submitting your Form DD 2656 n How you receive your pay
4. Reviewing your retirement pay myPay account (https:// n Beneficiaries for any pay owed you at the time of
www.dfas.mil/RetiredMilitary/manage/mypay/) your death
n Federal and State Withholding Tax Information
The Pre-Retirement Package n Election of Survivor Benefit Coverage
One year prior to your retirement date, you will receive
a pre-retirement package from your Branch of Service to In addition, you will have the opportunity to discuss
help you prepare for retirement. At this time, you should topics such as:
attend any briefings offered by your command concern- n Leave Time: Selling it back or getting paid
ing the retirement system. The decisions you make at the n Allotments: Determining which ones will carry over
time of retirement affect the amounts of your benefits and which ones you must restart
and of your survivor's benefits. Some decisions cannot be Please prepare for this meeting carefully. It's important
changed, so careful consideration of all options is crucial. to understand the implications of the decisions you make
when applying. Some of them will be hard to change after
Assembling Your Documents retirement.
You should begin to assemble your documents no later
than six months in advance of your target separation date. Once you have completed Form DD 2656, your Branch of
Below are the key documents needed to confirm your eli- Service will submit it with all supporting documentation
gibility and compute your retirement benefit. to DFAS Retired and Annuitant (R&A) Pay.
n Retirement Orders
n Separation Data Your First Retirement Payment
n Statement of Service Please see the How Long Does It Take page (https://
n High Average Base Amount www.dfas.mil/RetiredMilitary/about/How-Long-Does-
It-Take/) for current processing times.
Your Branch of Service will provide all these documents
to DFAS. You should be familiar with the information Note: To prevent delays in processing, ensure that hand-
they contain. written information is legible and banking information
will reflect the bank in use upon retirement.
Submitting your Form DD 2656
When all your documentation is assembled, it will be time When you receive your first payment, it will be time to
for you to meet with your Personnel Support Detachment review your Retirement myPay account.

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