Concurrent Retirement And Disability Pay
A century old law presently requires disabled military retirees to pay for their own disability compensation from their military retired pay. However, if a disabled military retiree chooses to work in the Congress or in the Federal Government as a civil servant and converts his or her military retirement into the congressional or civil service retirement, there would be no deduction taking place at all to fund their disability condition. To qualify for concurrent retirement and disability pay you must be a retiree who served long ample to qualify for a regular, non-disability retirement, which is usually a retirement based on 20 years of service, will qualify. Though, it depends on your type of disability and your disability rating. Retirees with VA disability ratings from 50 % to 100 % are eligible for concurrent retirement and disability pay. These payments would be phased in over 10 years, which will commence on the 1st of January 2004. After 10 years, these disabled retirees will beginning receiving their entire retired pay and their full VA compensation. The only retirees not eligible for CRDP are those retirees who retired for medical factors with only less than 20 years of service. If you qualify for concurrent retirement and disability pay, you will observe your retirement pay increase by about ten percent each year until the phase-in is complete, which is ten years. The payments for CRDP are directly deposited or mailed based on your current retired pay information and your payment will reflect as a decrease in the Veterans Affairs waiver deduction on your Retiree account Statement. But, you will continue to receive the same amount from the DVA. CRDP payments are taxable as indicated in your current retired pay Federal Income Tax Withholding (FITW) tax rate and may have a significant effect on the amount you wish to have deducted for State Income Withholding Tax (SITW). In addition, payments for concurrent retirement and disability pay are liable to collections actions for alimony, child support, community property, garnishment and government debt. Serving your country faithfully with all your might cannot be matched by any amount of money. This is perhaps why the government makes certainly disabled and retired military men obtain the benefit they reasonably deserve. |
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