Military Personnel Find Better Way To Manage Pay (NAPSA)—It is now easier for military personnel to manage | uf =‘ their retirement or annuity pay from the U.S. government. That’s good news, considering that there are nearly six million personnel including military retirees, active military members, DoD civilians and annuitants who are eligible to use the secure Webbased service called “myPay.” The technology allows personnel to access their retirement accounts online. To use myPay, they simply log on to the DFAS Website and register for a Personal Identification Number(PIN). DFASsays the easy-to-use service provides some important benefits, including: Convenience—tThe service provides a head start on preparing tax returns and allows for electronically sharing information with their accountants or family members. Confirmation of all account changesis sent directly to a user’s e-mail account, as are updates surrounding tax codes and filing requirements. Control—myPayprovides immediate access to retirement account statements (RAS), L099Rs, Leave and Earnings Statements, W-2s and other account information anywhere, anytime. It gives more control over finances to retired people who travel extensively or to those who require assistance from family and friends. It also allows users to update personal records with changes to mailing address, allot- Pay accounts can be accessed anytime, anywhere, for free using the secure DFAS myPay Website. ments, tax withholding and direct deposits. Security—The system is completely secure with the highest level of encryption and easy to use. Electronic access reduces the opportunity for identity theft from lost or stolen statements. Experts say the new system offers one additional—and vital— benefit: It frees up more defense money to be used on protecting U.S. armed forces. DFAS funding comes from the Department of Defense budget. Part of DFAS’s mission is to run asefficiently as possible, in an effort to not draw money away from American fight- ing men and women. In 2003, the group lowered thecosts of its services nearly 40 percent. Greater use of the myPay system will help lower costs even more. For more information, visit https://myPay.dfas.mil.
