Bonuses Uncle Sam Giveth & Uncle Sam Taketh All bonuses are taxed at 25%

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Presentation transcript:

Bonuses

Uncle Sam Giveth & Uncle Sam Taketh All bonuses are taxed at 25%

Bonus Types  Enlistment Bonus (EB)  Reenlistment Bonus (SRB)  Career Service Bonus (CSB)  Broken Service Reenlistment Bonus  Critical Skills Retention Bonus  Bonus Extension And Retraining (BEAR)

Enlistment Bonus (EB)  Documents needed to process an EB  DD 4/1, 4/2, 4/3 (Gives info on date of enlistment and term of enlistment)  DEP OUT PACKET PGS 1-7 (Gives the amount of the bonus)  MOS Q orders or Graduation certificate

 Paid on DJMS Line 34  Input as a 3403 up to $ any amount over $ will be paid in yearly annual installments using TAO Mail form. Enlistment Bonus

Installment Calculation  To figure annual installments on a bonus over $ Subtract 7K from total bonus amount then divide that number by years enlisted minus 1 year

Reenlistment Bonus (SRB) Paid in a lump sum based on zones Zone A up to $10, Zone B up to $15, Zone C up to $20,000.00

SRB Formula  Base pay / 12 months x multiplier x # months reenlisted for – previously obligated months (POM)  POM- Time remaining from reenlistment date until current ETS Date

SRB SRB Bonuses are calculated by DFAS based on the following spreadsheet

SRB Cont’d The screens necessary to input the data to the spreadsheet are: MC- Name MD- Grade TG- Date of Entry for current enlistment TH- ETS Date for current enlistment

 Off the enlistment contract the information needed is:  Date of Reenlistment DD 4/1 BL# 5  Years Reenlisted for DD 4/1 BL# 8a  Grade Reenlisted at DD 4/1 BL# 8a  Multiplier DD 4/1 BL# 8b (2)  MILPER MESSAGE DD4/1 BL#8b (5) SRB Cont’d

 Bonuses are submitted and checked daily. If not paid they are resubmitted in the same format every 10 working days  SRB Bonuses are paid on DJMS Line 33. Line 33 shows total amount pre tax.  PL line shows the amount the SM was actually paid after taxes.  Both screens can be found under the T09 screen.

Career Service Bonus (CSB) Also known as REDUX $30, paid either lump sum or installments, SM choice. Documents come from separations and are faxed to DFAS in the following format

CSB Cont’d  CSB Bonus is paid on the 31 line in DJMS Pre tax amount  PL or PM line will show the amount the SM received after tax

Broken Service Reenlistment Bonus (BSRB) ALL Paid to a service member who ETS’d then rejoined the service Documents needed are DD 4/1, 4/2,4/3, AND ALL DD 214’s from prior service All doccuments faxed to DFAS in the following format

Critical Skills Retention Bonus  Is a bonus alotted to certain Career Fields All 18 series Payable up to $50, Lump Sum submitted straight to DFAS through Dark Side Finance not this office

Bonus Extension and Retraining (BEAR)  Bear bonus is offered to service members who agree to reenlist for critical shortage MOS.  Soldiers are extended to 24 months after graduation of re-class at which time service member has option to reenlist for BEAR Bonus.

BEAR Cont’d Bear differs from SRB in that on the BEAR up to 24 months POM is forgiven (extension period)