(35) Travel and Transportation Allowances & (42) Financial Management Presented By: Shawna Weber

Purpose Explain storage & moving allowances available Identify differences between this move and a regular PCS move Inform member of financial resources available for transition

Shipment and storage of hhg Retirees & Certain INVOL Seps Storage up to 1 full year Move must be completed within 1 year Shipment Options: Any destination in the U.S. HOR outside the U.S. Place outside the U.S. called to active duty www.militaryonesource.mil www.dfas.mil Joint Travel Regulations

Shipment and storage of hhg Separations Storage up to 6 months Move must be completed in 6 months Shipment Options Home of Record (HOR) Or Place Entered Active Duty (PLEAD) www.militaryonesource.mil www.dfas.mil Joint Travel Regulations

$ entitlements $ Monetary Allowance in Lieu of Transportation (MALT) -Mileage reimbursement and dependents -Authorized for up to 2 POCs, if used -$.24/mile for official distance of the travel Plus (Per Diem) -Authorized to service member traveling by POC -Paid on flat rate, whole calendar day basis for the allowable travel time, based on standard per diem rate

$ Entitlements $ Personally Procured Moves (PPM) -Authorized expenses: Truck/Trailer rental Cost of packing materials Hand truck rental Gas, oil, and tolls for rental truck -NOT Authorized: Tow dolly Auto transportation Insurance fees/sales tax Meals and Lodging Gas in second vehicle

Thrift savings plan (tsp) Leave money in TSP account, and receive pension at age 70.5 Withdrawal deadlines : DoD Employees, continue contribution April 1 of the later of: The year following separation or Withdrawals A full withdrawal The year they become age 70.5 “lump sum” single payment Series of monthly payments Withdrawal taxes : TSP life annuity 20% Federal income tax (less than 10yr payment plan/not rolled into IRA or 401K) A partial withdrawal $1000 or more 10% early withdrawal penalty 1 partial withdrawal per account www.tsp.gov

SURVIVOR BENEFIT PLAN (SBP) All AD member automatically covered under full amount for 0 cost Life insurance for retired pay Monthly income provided to survivors of retired military personnel upon the member’s death DD Form 2656 Election Form Cost % of gross retirement pay Full coverage = 55% of ‘gross pay’ Resources: Legal Office Fleet and Family Financial Counselors www.defenselink.mil/miltarypay www.dfas.mil

Survivor benefit plan (sbp) Eligible beneficiaries: Spouse Only Any election less that full coverage – spouse’s notarized signature must be obtained Cost = 6.5% of gross pay Spouse and Children Legal children, under age of 18 If over 18, enrolled in college (until age 22) & unmarried Adds to Cost based on age of retiree, spouse, and youngest child Former Spouse Possibly voluntary or Court ordered Can be request by former spouse if TSM declines coverage Children Only Spouse must be notified Natural Interest Person (NIP) Brother/sister, child beyond eligibility Cost = 10 % of gross pay No Beneficiary/Declination

MILITARY VS CIVILIAN PAY & BENEFITS Indirect Compensation: Medical Care BAH and BAS Military Pension SGLI Pay Growth Commissary and NEX discounts Education Gym Facility Legal Counseling Counseling and Assistance Programs Space “A” Tavel TriCare Dental Uniform Allowances Special Pays

resources Travel & Transportation Financial Management PSD Personal Propery Office www.militaryonesoure.mil www.defensetravel.dod.mil DoDI 1332.36 Financial Management Command Financial Specialist FFSC Financial Counselor http://militarypay.defense.gov/calcula tors/RMC-Calculator www.tsp.gov http://militarypay.defense.gov/benefit s/survivor-benefit-program/ www.defenselink.mil/militarypay www.militaryonesource

Questions??