Key Takeaways
- 1.0 million people received military retired pay in 2023
- In FY 2023, DFAS processed 1.3 million retired pay payments each month on average
- As of 2022, there were approximately 17.9 million veterans aged 18–64 in the United States
- In FY 2023, DFAS paid out $75.3 billion in military retired pay
- DFAS paid out $77.7 billion in military retired pay in FY 2022
- DFAS paid out $73.0 billion in military retired pay in FY 2021
- Under the Survivor Benefit Plan (SBP), the maximum participant cost is 6.5% of base amount
- SBP provides coverage for eligible spouses and dependents with monthly annuity benefits
- DFAS notes SBP annuity payments are typically 55% of the base amount for spouse-only coverage
- In FY 2023, 1.0 million military retired pay recipients were in the DFAS retired pay system (excluding survivor annuitants)
- In FY 2023, DFAS had 1.3 million retired pay payments processed per month
- DFAS retiree pay customers accessed self-service through myPay 31.0 million times in 2023
- DFAS indicates that BRS participants may receive reduced retired pay multiplier but increased TSP value
- The BRS took effect in 2018, allowing new accessions and certain eligible members to opt in
- The first BRS Basic Pay Cap is not specified; but BRS matching begins with participation after opt-in
Millions depend on military retirement rules, COLAs, DFAS payments, SBP, and VA benefits.
Eligibility & Demographics
Eligibility & Demographics Interpretation
Financial Amounts & Trends
Financial Amounts & Trends Interpretation
SBP & Survivors
SBP & Survivors Interpretation
Operations & Administration
Operations & Administration Interpretation
Policy & Reform
Policy & Reform Interpretation
References
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