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Finance Retirement Fact Sheet

By Gary Allen,2014-08-07 12:07
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Finance Retirement Fact Sheet

    Finance Retirement Fact Sheet

    Defense Military Pay Office

    4951 Ellis Street

    Bldg 1218, Room 230

    Fort Carson, Colorado 80913

    719-526-1302 or DSN 691-1302

    FAX: 719-526-8476 or DSN 691-8476

    Hours of Operation: Mon Thurs: 0900 1500 hours

     Fri: 1100 1500 hours

    1. GENERAL: The purpose of this fact sheet is to explain the basic entitlements to Soldiers who retire from the United States Army at Fort Carson, Colorado.

2. TRAVEL ALLOWANCES: Upon retirement from Fort Carson, the Soldier and

    his/her family are entitled to travel pay from Fort Carson to any chosen point within CONUS. Rates are:

     a. Mileage Driving: The Soldier and his/her family are entitled to mileage when driving. The use of up to two POV’s is authorized for the member and/or family

    member(s) own vehicle or long-term lease vehicle.

     (1) Traveling in one vehicle: Mileage is paid at $0.15 per mile for the

    service member and $0.02 per mile for each dependent not to exceed a maximum of $0.20 for both member and family members.

     (2) Traveling in two vehicles: Each driver will receive $0.15 per mile

    with passengers each receiving $0.02 per mile up to a total of $0.35 per mile.

     b. Per Diem Driving:

     (1) Official Travel Time: Taking the official distance between

    authorized points and dividing it by 350 miles derives travel time. Any remainder greater than 50 miles adds another day.

     (2) Calculation of Per Diem: Service Members receive $99.00 per

    travel day. When traveling in a “convoy,” the second driver is counted as a family

    member. Each family member, 12 years or older, received $74.25 and each family member under 12 years of age receives $49.50 per travel day.

     c. Commercial Air or Bus: The payment will be based on the location to which

    the Soldier and / or dependents are traveling.

3. RETIREMENT FROM OTHER THAN FORT CARSON. Soldiers who elect to

    retire at stations other than Fort Carson will be authorized travel allowances from Fort Carson to home of selection only. The Soldiers will not be authorized travel time to

    travel from Fort Carson to their elected retirement station. All elapsed time after they depart Fort Carson will be charged as leave or permissive TDY. It is imperative that the DA Form 31 include all permissive TDY and leave up to date of retirement and that the Soldier not be permitted to depart early or excess leave will be charged. Soldiers who are directed to retire at stations other than Fort Carson (i.e. Fort Huachuca) will be entitled travel allowances from Fort Carson to Fort Huachuca and then to home of selection.

4. DISLOCATION ALLOWANCE (DLA): DLA is not authorized upon retirement.

5. TEMPORARY LODGING EXPENSE (TLE): TLE is not authorized upon

    retirement.

6. PAYMENT OF TRAVEL ALLOWANCE. Soldiers may receive advance travel

    advances. Soldiers will have to submit the travel voucher once they have selected their home of selection.

7. SUBMISSION OF FINAL TRAVEL VOUCHERS: Soldiers who retire have one

    (1) year from date of retirement to submit their final travel voucher to the following address:

     DFAS Travel Service

    DEPARTMENT 3700-Retirement th8899 East 56 Street, Indianapolis, IN 46249-3700

    Questions: 1-888-332-7366

    FAX: 317-510-3913

8. ACCRUED LEAVE: Soldiers will be paid a few days after retirement for any

    unused accrued leave; for each day of leave accrued, the Soldier will receive one day’s

    base pay minus the standard 25% deduction for federal tax and any state tax, if applicable. Effective February 10, 1976, there is a limit of 60 days accrued leave payable in a military career (refer to your LES for the number of days previously paid). Settlement for leave accrued on or after September 1, 1976 will include base pay only.

    9. FINAL PAY: Accrued leave payments and payments for the final month of active duty will be made 4-10 business days after retirement. Payments will be electronically transferred to the current account.

    10. TRANSITION LEAVE: Soldiers going on transition leave must inform the finance outprocessing clerk prior to departing. The clerk requires two copies of DA Form 31 in addition to the retirement packet. Soldiers will receive BAH after submitting a DA Form 5960.

11. GOVERNMENT QUARTERS: Soldiers living in Government quarters must

    ensure that the separation clerk for finance receives one copy of quarters termination orders upon clearance. Soldiers must complete a DA Form 5960.

12. RETIREMENT PAY: The Defense Finance and Accounting Service-U.S. Military

    Retired Pay processes retirement pay from information submitted by MILPO. MILPO prepares a DD Form 2656, with attachments, and forwards to U.S. Military Retired Pay. All allotments deducted from final LES are also deducted from retirement pay unless a DD Form 2558 (STOP) is received by the cutoff date for processing during the final thmonth of active duty (usually the 20) or submitted with retirement packet. Most

    allotments can be stopped on MYPAY with the MYPAY Pin #. Effective September 1, 2002, Army retirements will be processed by:

    Defense Finance and Accounting Service U.S. Military Retired Pay,

    P.O. Box 7130, London, KY 40742-7130

13. CHANGES DURING PROCESSING: Any changes in retirement processing

    should be brought to the attention of the Separations Clerk as soon as possible.

14. W-2 FORMS: W-2 Forms are mailed at the end of January for the tax year that st of the previous year to the address shown on the final payment ended December 31

    voucher, which should match members DD Form 214. You may also access MyPay through the DFAS homepage at: http://www.dfas.mil to print your W-2. MyPay account

    will remain active for 12 months after date of separation. If your Form W-2 is received but is incorrect, substantiating documentation should be mailed to: DFAS-IN, ATTN: thDFAS-IN/FJED, 8899 East 56 Street, Indianapolis, IN 46249-0875 or you may call 888-PAY-ARMY. This is the same if no Form W-2 is received at all. If you move, please notify the DMPO, ATTN: DFAS-IN/MMF-T, 140 Replacement Ave STE 1120, Fort Leonard Wood, MO 65473-8935, telephone number (573) 596-0021/0023. All requests must be in writing and should include your full name, date of separation, SSN, the correct address and signature below the request.

15. WHAT TO BRING WITH YOU:

     Six copies of orders and amendments (reporting to Transition Point, Retirement)

     DA Form 31 (Permissive TDY and Transition Leave IAW AR 600-8-10,

    Ch 5-35, 36)

     Unit Clearance Record (DA Form 137-1-R, Apr 97) NO EXCEPTIONS

     Installation Clearance Record (DA Form 137-2-R, Apr 97)

     Permanent Mailing Address and Telephone Number

     Bank Information (for Retirement Pay)

16. DUTY HOURS: Monday through Thursday form 0900 1500 hours and Friday

    from 1100 1500 hours. Retiring service member will need to call ahead for an appointment (719-526-1302).

RETIREMENT PAY INFORMATION: Call Toll Free London, Kentucky 1-800-

    321-1080 or Indianapolis, Indiana, 1-888-332-7366.

**THIS IS STRICTLY A GUIDE YOUR CIRCUMSTANCES MAY DIFFER!**

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