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The Defense Finance and Accounting Service ( DFAS) is an agency of the United States Department of Defense (DOD), headquartered in Indianapolis, Indiana. The DFAS was established in 1991 under the authority, direction, and control of the Under Secretary of Defense (Comptroller)/Chief Financial Officer to strengthen and reduce costs of financial ...
Federal Employees Retirement System. The Federal Employees' Retirement System ( FERS) is the retirement system for employees within the United States civil service. FERS [1] became effective January 1, 1987, to replace the Civil Service Retirement System (CSRS) and to conform federal retirement plans in line with those in the private sector.
Former spouses can receive their marital share of the retirement benefit directly from the Defense Finance and Accounting Service (DFAS) rather than from the ex-spouse, but to do so must have at least 10 years of marriage to the service member which overlaps the military service. [12] The Department of Defense Financial Management (DoDFM) Regulation section 7000.14-R entitled Former Spouse ...
The new year is a great time to restore your finances. For many Americans, holiday downtime is the right time to set new spending and saving goals, review budgets and establish retirement accounts ...
A 401 (k) plan is a tax-advantaged retirement savings tool offered by employers that allows eligible employees to contribute a portion of their salary up to a set amount each year.
Learn the ins and outs of 401(k) withdrawals and potential penalties before making any moves with your retirement money.
Retirement age in the public sector is usually lower than in the private sector. Public pension plan managers in the United States take higher risks investing the funds than ones outside the United States or those in the private sector. [1]
A number of retirement reforms were included in the federal spending package that passed Congress. Starting next year, retirees must start taking required minimum withdrawals, or RMDs, from their ...