Retiree Payday Changes for 2011 (TAX implications)

DFAS has announced changes to the September and December retiree paydays for 2011 resulting from the 2011 National Defense Authorization Act.

In brief, the changes are:

• payments normally scheduled for Oct. 3, 2011 will be issued on Sept. 30, 2011 
• payments normally scheduled for Jan. 3, 2012, will be issued on Dec. 30, 2011

Note:  for most of us, this means our taxable income from retired pay will increase due to there being 13 paydays during 2011!

Thanks to Bob O'Halloran for passing along this link to the DFAS announcement.