U.S.

January 11, 2013

Fiscal cliff legislation affects military, civilian paychecks

American Forces Press Service

WASHINGTON — The legislation President Barack Obama signed Jan. 2 postponed the fiscal cliff and means changes to military and civilian paychecks, Defense Finance and Accounting Service officials said today.

The legislation increases Social Security withholding taxes to 6.2 percent. For the past two years during the “tax holiday” the rate was 4.2 percent.

The increase in Social Security withholding taxes affects both military and civilian paychecks, officials said.

For civilian employees, officials said, this will mean a 2 percent reduction in net pay.

For military personnel, changes to net pay are affected by a variety of additional factors such as increases in basic allowances for housing, subsistence, longevity basic pay raises and promotions. Service members could see an increase in net pay, no change or a decrease, military personnel and readiness officials said.

For military members, Social Security withholding is located on their leave and earnings statement in the blocks marked “FICA taxes” — for Federal Insurance Contributions Act.

Defense Department civilians will see the change on their leave and earnings statement under “OASDI” — for old age, survivors, and disability insurance.

Reserve component members will be the first to see potential changes in their net pay as a result of the law, DFAS officials said. Changes will be reflected in their January paychecks.

Active-duty military personnel will see pay adjustments in their January mid-month paycheck and will be reflected on the January leave and earnings statement.

DOD civilians will see social security withholding changes reflected in paychecks based on the pay period ending Dec. 29, 2012, for pay dates beginning in January.

DFAS stresses that all personnel should review pay statements carefully.




All of this week's top headlines to your email every Friday.


 
 

 
(U.S. Air Force photo by Airmen 1st Class Cheyenne Morigeau)

Davis-Monthan Airman helps Tucsonan

One weather forecaster’s self-aid buddy care training quickly resurfaced when she witnessed a car accident outside the gates of Davis-Monthan. Senior Airman Amanda Boone, 355th Operations Support Squadron weather forecaster, ...
 
 

U.S. Air Force to kick off COOL program

MAXWELL AIR FORCE BASE, Ala. (AFNS) — The Community College of the Air Force officially launched the Air Force Credentialing Opportunities On-Line program March 16. Air Force COOL is a pathway for enlisted Airmen to earn industry recognized professional certifications and licenses to enhance their active-duty work and to prepare them as they transition to...
 
 

Military leads the way in equal opportunity

VANCE AIR FORCE BASE, Okla. — What does it take to change a nation? What force has the power to move millions of people in their fundamental views of the world? For Christopher Daniels, a U.S. Air Force colonel, that answer is simple: leadership. In his words, “The true agent of change is true leadership.”...
 

 

Doolittle Tokyo Raiders to receive Congressional Gold Medal

(U.S. Air Force photo) On April 18, 1942, Airmen of the U.S. Army Air Forces, led by Lt. Col. James H. “Jimmy” Doolittle, carried the Battle of the Pacific to the heart of the Japanese empire with a surprising and daring raid on military targets at Tokyo, Yokohama, Yokosuka, Nagoya, and Kobe. This heroic attack...
 
 

AFAF gives all Airmen a chance to pay it forward

NELLIS AIR FORCE BASE, Nev. — It’s Sept. 12, 2005. Senior Airman Dennis Hutchison is recovering from a hard day’s work on the flightline of Robbins Air Force Base, Georgia, when he receives a call that tragedy had struck. “I got a notification from my family that my father had passed away,” Hutchison said. “I immediately contacted...
 
 

Rocketry Club ready to take flight this weekend

TUCSON, Arizona – On March 28 and 29, hundreds of rockets will soar into the Tucson sky at Desert Heat 2015. Rocket enthusiasts from around the Southwest will gather for this annual two-day rocketry event, where there’s no cost to watch, and kids always fly free. The rockets that will be launched vary in size...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>


Directory powered by Business Directory Plugin