Military Finance Network

The National Defense Authorization Act for Fiscal Year 2007 lifted the cap for military retirement pay. Previously, retirement pay was limited to 75% of the base pay for 30 years of service. Anyone who served more than 30 years did not receive any additional compensation.
Military members who retire under the Final Pay or High 36 [...]

The Army is having a difficult time recruiting enough troops to meet mission needs. The war in Iraq and Afghanistan is making it difficult to not only keep good troops, but also to recruit new troops. To help combat these problems, the Army is offering new recruitment incentives to help recruits accrue up to $45,000 [...]

The Problem: There has been a lot of talk recently about the quality of care that wounded veteran’s are receiving upon their return from the war front. There are also many veterans who feel they are either not getting the care they deserve, or are not getting a military disability rating they feel they qualify [...]

Senator Maria Cantwell (D-WA) recently introduced the GI Bill For Life Act, which would eliminate the expiration date for veterans to use their Montgomery GI Bill (MGIB) benefits. A similar piece of legislation is set to be proposed to the House by House Armed Services Committee member Rep. Rick Larsen (D-WA). Currently, eligible veterans have [...]

The Pentagon recently put forth a plan to streamline the more than 60 different specialized pay categories into 8 different groups. The House of Representatives supports this initiative which should maintain current specialty pay levels through FY 2008. Changes may be seen in FY 2009, but some of those changes may be for the better [...]

The DoD announced a policy change in the Montgomery G.I. Bill that increases the eligibility window for some Reservists. The new policy will align with the Department of Veterans Affairs rules, which allow National Guard and Reservists to receive MGIB education benefits for the amount of time they were called to active duty, plus four [...]

MSN and CNN both report about the rise in retention bonuses being paid to troops to maintain force strength. The military is having a hard time keeping its personnel numbers at high enough levels to sustain current operations. The hardest hit are the Army and Marines as many troops are getting out due to the [...]