Military retirement check going down as of March 1st

[Gin]

wondered why...no explanation...found this response on the web..at the Military Advantage blog site..

Lately I have heard some rum­blings about a new law will increase taxes on mil­i­tary retire­ment pay start­ing in March. Well the sto­ries are half true. It is true that the gov­ern­ment will be with­hold­ing more and that it is going to affect your March check. How­ever, it is not the result of a “new” law and your fed­eral income tax rate is NOT increas­ing.

The truth is that the increased with­hold­ing is the result of the expi­ra­tion of the “Mak­ing Work Pay” credit, which was part of the 2009 Stim­u­lus Pack­age.

So let me make this per­fectly clear. There is NO “new” tax on mil­i­tary retire­ment. The increase is the result of the new IRS tax with­hold­ing tables which changed for 2011, mean­ing about 75 per­cent of the pop­u­la­tion is sub­ject to an increase in the amount of fed­eral tax being with­held from their monthly pay — not just retirees. Again - the tax rates did not change; only the with­hold­ing tax table changed.

[Sinistrous]

1. The non-military Federal retirees got hit with this on February 1.

[Monique1]

2. Last week my pension check was less

actually $30.00 less due to the IRS changing their tax table. That is a big chunk for me.

[Monique1]

3. Not last week - correction

last month

[elleng]

7. 300 for me, TODAY!

[ProgressiveProfessor]

4. Easy enough to adjust your witholding to compensate

I did for both retirement and day job

[elleng]

5. My Fed annuity net was just adjusted down, $300 less this month.

Thanks for the explanation; was going to call OPM!

[elleng]

6. Info from OPM, useful explanation

http://www.opm.gov/retire/annuity/announcements/announcement1.asp