by Hobart Burley – DFAS
ARLINGTON, Va. – Eligible retirees will begin receiving Individual Unemployment (IU) payments and increased Combat-Related Special Compensation (CRSC) adjusted for dependents in August.
Retroactive payment for these entitlements is expected on or about Aug. 30.
The Defense Finance and Accounting Service, which manages pay for nearly 2.2 million military retirees and annuitants, plans to notify potential eligible payees by mail prior to issuing these payments.
Additionally, Special Monthly Compensation (SMC) for eligible retirees is expected to be implemented by Sept. 30, 2004. Special Monthly Compensation requires additional time due to required coordination between the military services and DFAS.
Changes to these entitlements result from the 2004 National Defense Authorization Act. Implementation of these increased entitlements has taken several months to allow policy, procedures and eligibility details to be finalized.
About DFAS
The Defense Finance and Accounting Service is the world’s largest finance and accounting operation. It provides responsive, professional finance and accounting services to the men and women who defend America. In Fiscal Year 2003, DFAS paid about 5.9 million people, processed more than 12.3 million invoices from defense contractors, disbursed more than $416 billion and managed more than $194 billion in military trust funds.
For more about DFAS visit http://www.dfas.mil.
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