Happy New Year!
The 2nd half of 2021 flew by in a flash.
My family and I PCS'd from the East to the West coast and our organization was named the Rosie Network's 2021 Active Duty Owned Business of the Year!
We're extremely honored to be awarded this title and excited to further live up to it in 2022!
Here are the Top 5 Military Benefit Updates You Should Know About
1. 2022 NDAA Military Family Benefit Summary
27 Dec, POTUS signed the 2022 National Defense Authorization act.
This is what it means for military families
🔹2.7% Basic Pay Raise
🔹On Average 5.1% housing allowance increase (differed by location, rank, dependent status)
🔹Section 521: Reduces CIP (Career Intermission Program) service commitment from 2x down to 1x time taken (Read our Updated CIP page HERE)
🔹 559A: Military Academy students can preserve parental guardianship rights (within 1 year of the act)
🔹 562: EFMP improvements. Expansion of the Advisory Panel. When time to relocate, families to choose from 2 possible locations (Read more Family Consideration Programs HERE)
🔹 564: Establish Paid Employment Fellowship for Spouses (Pilot Program given $5M over 3 years)
🔹601: Basic Needs Allowance for Low-Income families 130% below the federal poverty rate
🔹602: Equal Incentive Pay for Reservists
🔹621: 12 Weeks of Paid Parental Leave *Effective 1 year after act is passed*
🔹622: Bereavement Leave - 2 weeks following the death of an immediate family member (not charged if member has less than 30 days of accrued leave) ((effective 180 days after act is passed))
🔹623: Travel Allowance for family to attend service member funeral/memorial
🔹624: Allows services to extend pilot program for in-home childcare financial assistance to more locations
🔹707: Improvements of Postpartum Care for service members and dependents (Mental Health, Pelvic evaluation & rehab, Obstetric hemorrhage treatment)
Read the official bill HERE
2. 30 Nov - POTUS Signed 4 Veteran Bills Into Laws
30 Nov: POTUS Signed 4 Bills Into Law Supporting Veteran Benefits
S. 796, “Protecting Moms Who Served Act of 2021,” - Supports funding ($15M - FY22) for veteran mother's maternity care coordination program (Improve access to benefits and care)
S. 894, “Hire Veteran Health Heroes Act of 2021,” - To Better recruit separating DoD health specialists for VA health positions
S. 1031 - To Analyze VA benefit compensation concerning race and ethnicity disparities
S. 1095, “Colonel John M. McHugh Tuition Fairness for Survivors Act of 2021,″ - To Extend public college in-state tuition rates for families of service members who have died or became disabled
3. 5.9% Increased Retired & Survivor COLA for 2022
19 Nov 2021, The Defense Department announced a cost of living increase (5.9%) to Retired Pay & Survivor Annuities starting January 1st, 2022
Read the official memo HERE
4. 5 Tips When Using the VA Interest Rate Reduction Refinance Loan (IRRRL)
Previously used a VA Home Loan benefit?
If so, here are the 5 top things to know about the VA Interest Rate Reduction Refinance Loan
(If not, read more about the VA Home Loan benefit HERE)
🔹To improve loan terms: variable
to fixed, lower monthly
payment, lower interest rate
🔹Can use to replace existing VA
backed loan for home you
currently *or used to live in*