DFAS Mid-Year Review

I forgot something that should have been included in my series of mid-year things to check:  your Defense Finance and Accounting Service (DFAS) accounts.  There are a few differences for actively serving and retired service members, but they both have a lot of important information that needs to be kept updated with DFAS.  Active duty, reserve, and retirees should log-on to their MyPay accounts and review the following information:

 Your Mailing Address

 With the improvements in technology, the need to update physical mailing addresses has lessened.  However, if DFAS needs to
reach you, they’re likely going to do it via snail mail.  Take the time to verify your mailing address.

Your Email Address

While snail mail is going to be used for many kinds of contact, email is always faster.  Keeping your email up-to-date to receive important notifications and statement information.

 Tax Withholding and State Information

 I’m pretty sure we covered withholding pretty thoroughly in the first post of the Mid-Year Review series.  However, it is always good to check that your state information is also correct.  This is especially true for retirees who must change their filing state when they move.

Allotments

 If you have allotments, you should review the payee and the amount regularly.  Make sure you don’t have any old allotments going to places you don’t want them going.  Changes to allotments can be made via MyPay.
Retirees should also check their beneficiary designations for the arrears of pay beneficiaries.  Active duty and reserve folks will do this via their military records.
All these things should take about three minutes once you get into your MyPay account, and they could save you a bundle of time and hassle in the future.

About the Author

Kate Horrell
Kate Horrell is a military financial coach, mom of four teens, and Navy spouse. She has a background in taxes and mortgage banking, and a trove of experience helping other military families with their money. Follow her on twitter @realKateHorrell.
  • julia johanning

    hi kate, go to the social security website. there is a definite telephone number for you when overseas. call. speak to a human. of course they will force you to use the computer generated person. (lol) but nevertheless, speak to a human. that is where you get to change your address. i am retiring this month but still working etc. i moved. i called ss and changed my mailing address over the phone. yes, each time you move you do have to change the address. you will continue to receive your ss statement of earnings credits (points) towards eventual retirement, etc. You do have to keep up with that because if you have worked; are going to continue to work, you want to always always make sure you get the credit for it for ss when you retire. with the issues today in washington about always wanting to slash retirement benefits for all ss you must keep your hands on this.