SOCIAL SECURITY BENEFIT Please share this with anyone who had
active duty service between January 1957 to December 31, 2001 and planning
for retirement. In a nutshell it boils down to this:
You qualify for a higher social security payment because of your Military
service, for active duty any time from 1957 through 2001 (the program was
done away with 1 January 2002). Up to $1200 per year of earnings credit
credited at time of application - which can make a substantial difference in
social security monthly payments upon your retirement. You must bring your
DD-214 to the Social Security Office and you must ask for this benefit to
receive it!
How You Get Credit For Special Extra Earnings
The information that follows applies only to active duty military service earnings from 1957 through 2001. Here's how the special extra earnings are credited on your record:
Service in 1957 Through 1977
You are credited with $300 in additional earnings for each calendar quarter in which you received active duty basic pay.
Service in 1978 through 2001
For every $300 in active duty basic pay, you are credited with an additional $100 in earnings up to a maximum of $1,200 a year. If you enlisted after September 7, 1980, and didn't complete at least 24 months of active duty or your full tour, you may not be able to receive the additional earnings. Check with Social Security for details.
Soc Sec website: http://www.ssa.gov/retire2/military.htm
This is something to put in your files for when you apply for Social
Security down the road.. It is NOT just for retirees, BUT anyone who has
served on active duty between January 1957 to December 31, 2001.
FYI - this benefit is not automatic, you must ask for it! We've all been on
active duty between 1957 and 2001 or know someone who has.
Passing on good information for all you military folks when you apply for
social security. I know this may be too early for some of you to think about
social security but, keep living and you will get there...
Friday, April 16, 2010
Wednesday, April 14, 2010
Financial Benefits of Deploying to a War Zone…
There seems to be a great debate among the service members that are deployed in support of Operations Iraqi Freedom and Enduring Freedom. The debate centers around the belief by those serving in Iraq and Afghanistan that service members serving in Kuwait are less deserving of Rest and Recuperation Leave and that their service is less dangerous and thus not worthy of receiving all the benefits of those serving in a combat zone. (Despite the fact that service in Kuwait is considered service in a combat zone!)
The fact of the matter is those serving in Kuwait, Qatar and other locations in the region but outside of Iraq and Afghanistan are just as vulnerable to being attacked and killed as those service members serving in Iraq and Afghanistan. Those serving in Kuwait may get a false sense of security, as they are not being shot at daily. But all must rest assure that even in Kuwait, that boarders Iraq, Saudi Arabia and Iran as well as those serving in Qatar home to the media conglomerate Al Jazeera that has been viewed by some as very pro Islamic extreme, have forces living within their borders that would love to do serious harm to the American way of life as well as kill service members.
The bottom line is, never let anyone tell you that you are less of a combat soldier and not deserving to wear the combat patch nor receive the benefits of being in a war zone. The truth of the matter is we are all in this war on terrorism together and the war in Iraq and Afghanistan could not succeed without the support and service of those serving in Kuwait as well as others around the world.
Moreover, we are all away from family, friends and love ones and regardless of where you serve you feel the separation.
There are many financial and other benefits that service members have as a result of their deployment in the combat zone. As discussed earlier, they will receive certain tax benefits as well as additional money as a result of their service in a combat zone. There are also various savings and investment programs that should be considered. Here are a couple for you to think about. In my book, “The Service Member’s Guide to Deployment; What every Soldier, Sailor, Airmen and Marine should know prior to being deployed." I go into great detail outline and discussing the major programs.
The fact of the matter is those serving in Kuwait, Qatar and other locations in the region but outside of Iraq and Afghanistan are just as vulnerable to being attacked and killed as those service members serving in Iraq and Afghanistan. Those serving in Kuwait may get a false sense of security, as they are not being shot at daily. But all must rest assure that even in Kuwait, that boarders Iraq, Saudi Arabia and Iran as well as those serving in Qatar home to the media conglomerate Al Jazeera that has been viewed by some as very pro Islamic extreme, have forces living within their borders that would love to do serious harm to the American way of life as well as kill service members.
The bottom line is, never let anyone tell you that you are less of a combat soldier and not deserving to wear the combat patch nor receive the benefits of being in a war zone. The truth of the matter is we are all in this war on terrorism together and the war in Iraq and Afghanistan could not succeed without the support and service of those serving in Kuwait as well as others around the world.
Moreover, we are all away from family, friends and love ones and regardless of where you serve you feel the separation.
There are many financial and other benefits that service members have as a result of their deployment in the combat zone. As discussed earlier, they will receive certain tax benefits as well as additional money as a result of their service in a combat zone. There are also various savings and investment programs that should be considered. Here are a couple for you to think about. In my book, “The Service Member’s Guide to Deployment; What every Soldier, Sailor, Airmen and Marine should know prior to being deployed." I go into great detail outline and discussing the major programs.
Monday, April 5, 2010
The Power of a Power of Attorney
When considering securing a power of attorney, know that there are two types. A Special power of attorney and a General power of attorney. A general power of attorney gives another person broad and far reaching authority to handle your affairs. A special power of attorney only provides for specifically limited handling of your affairs such as selling your vehicle or preparing your taxes. Regardless of the type of power of attorney you give, there should be a specific termination date. As an attorney, I recommend powers of attorney terminate after one year has passed.
Case Scenario 1:
“Service Member” was ordered to active duty to be deployed to Iraq in support of Operation Iraqi Freedom. “Service Member” has been married for 18 years to a wonderful person, “Spouse”.
“Service Member” loved “Spouse” very much and wanted to ensure “Spouse”was able to take care of things in “Service Member’s” absence. Prior to “Service Member” departing for duty "Spouse" was given a Power of Attorney.
Do to the stress and temptations of “Service Member's” absence, “Spouse” files for divorce. However, due to the “Service Member” not fully understanding the difference between a general power of attorney and a special power of attorney, “Service Member” gave "Spouse" a general power of attorney.
What do you think happened?
Case Scenario 2:
“Service Member” was order to active duty to be deployed to Afghanistan in support of Operation Enduring Freedom. “Service Member” has been married for 5 years to a wonderful person, “Spouse”.
“Service Member” loved “Spouse” very much and wanted to ensure “Spouse” was able to take care of things in “Service Member’s” absence. Prior to “Service Member” departing for duty "Spouse" was given a Power of Attorney.
Do to the stress and temptations of “Service Member's” absence, “Spouse” files for divorce. However, prior to deploying to Afghanistan, “Service Member” reads the book The Service Member’s Guide to Deployment; what every Soldier, Sailor, Airmen and Marine should know prior to being deployed. Copyright 2008 “Service Member” gave "Spouse" a special power of attorney.
What do you think happened?
To find the answers to these “Case Scenarios” and other fascinating questions, read the book, The Service Member’s Guide to Deployment; What every Soldier, Sailor, Airmen and Marine should know prior to being deployed. Copyright 2009
Case Scenario 1:
“Service Member” was ordered to active duty to be deployed to Iraq in support of Operation Iraqi Freedom. “Service Member” has been married for 18 years to a wonderful person, “Spouse”.
“Service Member” loved “Spouse” very much and wanted to ensure “Spouse”was able to take care of things in “Service Member’s” absence. Prior to “Service Member” departing for duty "Spouse" was given a Power of Attorney.
Do to the stress and temptations of “Service Member's” absence, “Spouse” files for divorce. However, due to the “Service Member” not fully understanding the difference between a general power of attorney and a special power of attorney, “Service Member” gave "Spouse" a general power of attorney.
What do you think happened?
Case Scenario 2:
“Service Member” was order to active duty to be deployed to Afghanistan in support of Operation Enduring Freedom. “Service Member” has been married for 5 years to a wonderful person, “Spouse”.
“Service Member” loved “Spouse” very much and wanted to ensure “Spouse” was able to take care of things in “Service Member’s” absence. Prior to “Service Member” departing for duty "Spouse" was given a Power of Attorney.
Do to the stress and temptations of “Service Member's” absence, “Spouse” files for divorce. However, prior to deploying to Afghanistan, “Service Member” reads the book The Service Member’s Guide to Deployment; what every Soldier, Sailor, Airmen and Marine should know prior to being deployed. Copyright 2008 “Service Member” gave "Spouse" a special power of attorney.
What do you think happened?
To find the answers to these “Case Scenarios” and other fascinating questions, read the book, The Service Member’s Guide to Deployment; What every Soldier, Sailor, Airmen and Marine should know prior to being deployed. Copyright 2009
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