As we wrote in our military pay date schedule, the first step in creating a budget is knowing how much you will be paid and when.
The good news is that military retirement and annuity pay dates are easy to remember: You usually receive your pay on the first of the month. The only exception is when the first of the month falls on a weekend or holiday. When it does, retirees are paid on the preceding business day. Annuitants, surviving spouses, or family members are paid the following business day.
2023 Military Retiree and Annuitant Pay Dates
The below military pay dates apply to all branches of the military, including the Air Force, Air Force Reserves, Air National Guard, Army, Army National Guard, Army Reserves, Marine Corps, Marine Corps Reserves, Navy, Navy Reserves, Space Force, Coast Guard, Coast Guard Reserves and the Public Health Service.
Here are the military retiree pay dates for 2023. You must check MyPay for your retiree account statement (RAS).
| Entitlement Month | 2023 Retiree Pay Dates | 2023 Annuitant Pay Dates |
|---|---|---|
| Month | Direct Deposit Date | Direct Deposit Date |
| January | Feb. 1 | Feb. 1 |
| February | Mar. 1 | Mar. 1 |
| March | Mar. 31 | Apr. 3 |
| April | May 1 | May 1 |
| May | June 1 | June 1 |
| June | June 30 | July 3 |
| July | Aug. 1 | Aug. 1 |
| August | Sep. 1 | Sep. 1 |
| September | Sep. 29 | Oct. 2 |
| October | Nov. 1 | Nov. 1 |
| November | Dec. 1 | Dec. 1 |
| December | Dec. 29 | Jan. 2, 2024 |
2024 Military Retiree & Annuitant Pay Dates
Here are the military retiree pay dates for 2021. You will need to check MyPay for your retiree account statement (RAS).
| Entitlement Month | 2024 Retiree Pay Dates | 2024 Annuitant Pay Dates |
|---|---|---|
| Month | Direct Deposit Date | Direct Deposit Date |
| January | Feb. 1 | Feb. 1 |
| February | Mar. 1 | Mar. 1 |
| March | Apr. 1 | Apr. 1 |
| April | May 1 | May 1 |
| May | May 31 | June 3 |
| June | July 1 | July 1 |
| July | Aug. 1 | Aug. 1 |
| August | Aug. 30 | Sep. 3 |
| September | Oct. 1 | Oct. 1 |
| October | Nov. 1 | Nov. 1 |
| November | Nov. 29 | Dec. 2 |
| December | Dec. 31 | Jan. 2, 2025 |
When Will I Receive My Military Retirement Paycheck?
Military paychecks are generally available on the payment date. Payments may hit your bank a day or two later.
Some military-friendly banks offer military deposits a day or two earlier than the actual pay date. This is common with Navy Federal Credit Union (if you use the Active Duty Checking Account), among others. Here is the list with the NFCU pay dates.
Top Military Banks: Here is our list of the best military banks and credit unions. Consider choosing to bank with one of these financial institutions if receiving your pay earlier is important to you.
Understanding Your Retired Military Pay
The Defense Finance and Accounting Service, or DFAS, handles military retirement pay. They handle all record-keeping, tracking, payments, etc. Retirees can track their pay on MyPay.
Log on to your MyPay account and view your Retiree Account Statement (RAS), a two-page document the DFAS issues that summarizes your pay, benefits, and any deductions, including allotments.
As a military retiree, you’ll receive a retiree account statement each month and an annual RAS in December. MyPay makes the previous 12 RAS statements available to you. If you want to keep a long-term record, download the RAS in PDF format.
You can provide your email address on MyPay and opt-in to receive an email reminder each month when your RAS is available.
Other ways to use MyPay: In addition to tracking and downloading your Retirement Account Statements, you can also use MyPay to download your tax forms, change any allotments you might have, and change your banking or contact information.
Your retirement pay is made in arrears, meaning you receive pay for the previous month.
How Does Your Military Pay Change in Retirement?
Your military retirement pay is based on a complex formula and depends on whether you participate in the Legacy High-3 retirement plan or opted into the Blended Retirement System (BRS). Both calculate your pay using your basic pay (your final basic pay for BRS and the average of your highest 36 months of basic pay for High-3) and your time in service.
You will no longer have your basic allowance for housing (BAH), basic allowance for subsistence (BAS), or other benefits, such as incentive pay or bonuses. However, in 2021, the Department of Defense announced that military retirees would begin receiving an annual cost-of-living adjustment (COLA).
You must also consider any withholdings, such as taxes, insurance, and allotments.
The good news is that many states do not tax military retirement pay, so you may see an unexpected boost.
Here are some additional deductions from your retirement pay that you may see, depending on your situation:
- Survivor Benefit Plan (SBP) Premiums: Your SBP premium will be a maximum of 6.5% of your pay. This is deducted from your pay before taxes are calculated.
- Tricare Prime: You are still eligible for Tricare Prime until you qualify for Medicare. You can choose a single or family plan, and the premiums are subject to change annually.
- Tricare for Life: Tricare for Life is a program for those who also have Medicare. The price is based on a single or family plan and is subject to change annually.
- Retiree Dental Insurance: You can choose from several plans. The price is based on your plan, location, and number of dependents.
- Veterans Group Life Insurance: You may be eligible to continue your life insurance coverage. If you choose to do so, you can find the rates on the VGLI-Rates tables.
- Possible Withholding of VA Disability Compensation: If you are not eligible for concurrent receipt, you may see reduced retirement pay. Learn more about how VA disability compensation affects retirement pay.
- Any allotments.
You can find a full analysis of how your military pay changes when you retire. This is a great resource for planning purposes.
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Carol A Turcotte says
It in now January 3, 2022 and I do not see my annuitant deposit? When will this show up as deposited at Bank Of America?
Michael E. Maxfield, LTC, USAR (Ret.) says
Ryan,
What is the actual statute of limitation for filing for military retirement? I have seen a document that mentions 7 years from the date you reach age 60 and I have been told by Army HRC that backpay will only go back 6 years and not 7 years from the date you reach age 60. I had significant problems trying to find out how to file for my retirement and got the documentation needed into the mail system (both hardcopy and softcopy) on my 67th birthday (exactly 7 years from the date I reached age 60). Every person I talked to at Fort Knox (Army HRC) and the RSO at Fort Sam Houston agreed on those time limits, but I thought I would seek out an opinion from a knowledgeable 3rd party like yourself. Would appreciate any feedback you can send me…..Thank You !!!
Ryan Guina says
Hello Michael, I have not researched this topic. I would go with what DFAS or Army HRC provide. As always, ask for documentation so you have have a record of the resource they used. Best wishes!
Lewis Fritz says
get a print out for 2021 retired pay schedule