articles - MILITARY RETIREES

CONCURRENT RECEIPT PAYMENT TO BEGIN FEBRUARY 1, 2004

The historic agreement to grant concurrent receipt of retirement and disability pay becomes reality February 1, 2004, when the first payment checks are scheduled to be delivered to retirees currently enrolled in the special compensation for the severely disabled.

Remaining qualified retirees will receive their concurrent disability pay as DoD can determine their eligibility. Payments will be retroactive to January 1, 2004. Qualified retirees are those who have served 20 years or more, including chapter 61 medical retirees with 20 years or more and National Guardsmen and Reservists with 20 years or more. The law currently covers retirees with a VA disability rating of 50% and higher, except for Purple Heart recipients, who are qualified with a disability rating of 10% and higher. Eligible retirees will see an approximate 10% increase in their retirement pay each year until the 10 year phase-in plan is complete in 2014. To calculate your expected concurrent disability pay, go to here (you must have Microsoft Excel to use this feature). For more information on the new concurrent receipt law, go to here.

Editor's Note: Due to technical needs, we have had to relocate many past Military Report articles. They can all be found by going to the Military Report Archive section.

Contributed by:
YNCS Don Harribine, USN (Ret)
NCPOA