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Dd 2656 Form: What You Should Know

DD Form 2555-3 Application for Release of Service Record for Service Related Personnel. Payment of a retired sailor with a DD Form 2250 must be completed on a one-time basis. All retirement applications must be completed and signed within 14 days of the retirement date. See here for more information at: Paying Veterans for Retiring or Leaving the Service The following are some questions and answers regarding Retired Military Pay. Q: Who pays for my retired military pay? A: Retired military pay is covered by the Federal government. Retired pay for retired military pay is an integral part of the employee's pension rights. Q: How much should I pay now? A: The Department of Defense provides the exact amount of pay for retired military pay. The amount of the military retired pay is dependent upon the amount of income and the type of service you received in retirement, the amount of your service, the pay grade and the date of your retirement. The exact amount to pay is posted on the DD Form 1521-2, Pension Receipts for Retired Military Pay. If you wish to pay more to your retirement account, you can choose a larger amount based on the retirement account that you are choosing to maintain. (Please do not contact Service Personnel and Benefits to change the Military Retiree Pay calculator values because service personnel receive different retirement account values based on the age and number of months of service.) Q: Where do I pay all of this military retired pay? A: All retirement pay you receive is paid to the account for your retirement plan. You must have at least one individual's retirement account in order to pay your retirement retired pay. The retirement accounts for retired military personnel can have multiple beneficiaries such as your wife or children. Q: Is money collected automatically sent to you? A: No, you must choose to send in your payments to your retirement account, which you can choose the Payee Number in the Payee box on the retirement request. Q: Do you have more than one retirement account option for retired military pay? A: No.

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