Supervise the Implementation of Financial Readiness Actions Flashcards

1
Q

DEERS

A

Defense Eligibility Enrollment System

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2
Q

Those eligible for a family member ID card are:

A
  • Spouse
  • Children age 10 and older
  • Children under age 10 if Soldier is a sole parent, divorced, or both parents are in the Army
  • Dependent parents
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3
Q

Army Community Services (ACS) assist in 5 major areas:

A
  1. Deployment/Mobilization and Stability and support operations readiness
  2. Soldier and Family Readiness
  3. Relocation Readiness
  4. Employment Readiness
  5. Financial Readiness
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4
Q

___ is an Army sponsored fund relying on contributions and dedicated to taking care of Soldiers and their families.

A

Army Emergency Relief (AER)

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5
Q

___ is a comprehensive network of support and leisure services designed to enhance the lives of Soldiers and their families. Trips, movies, pools,

A

Morale, Welfare, and Recreation (MWR)

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6
Q

5 Army Family Resources

A
  1. Army Community Services
  2. Army Emergency Relief- grants, scholarships
  3. Morale, Welfare, and Recreation
  4. Family Housing (on base housing)
  5. Legal Assistance Office (cannot represent you in court)- wills, tax assistance, employment.
    SERVICE MEMBERS CIVIL RELIEF ACT OF 2003
    -get out of leases, debts, when deployed
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7
Q

Other available assistance and resources OUTSIDE the Army:

A
  1. Department of Veterans Affairs (VA)
  2. American Red Cross
  3. Army Retirement Services
  4. Social Security Administration- disability and survivor benefits
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8
Q

___ provides health care options for family members and retirees.

A

TRICARE

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9
Q

3 TRICARE plans:

A
  1. TRICARE Prime- no cost share, no CHAMPUS deductible
  2. TRICARE Extra- reduced cost shares, with CHAMPUS deductible
  3. TRICARE Standard- most freedom of choice
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10
Q

DFAS (pay)

A

The Defense Finance and Accounting Service

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11
Q

12 Sections of Leave and Earnings Statement

A
  1. ID Section- pay, years of service, ETS
  2. Entitlements Section (BAH, Base pay)
  3. Deductions Section (Fed taxes, SGLI, medicare)
  4. Allotments Section (optional, savings, spouses account)
  5. Summary Section (totals everything above)
  6. Leave Section
  7. Federal Taxes Section
  8. Federal Income Contribution Act Section (FICA)
  9. State Taxes Section
  10. Pay Data Section
  11. Thrift Savings Plan (TSP) Section
  12. Remarks Section
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12
Q

Section contains Pay date, years of service, and ETS (LES)

A

ID Section

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13
Q

Section lists the specific types of military pay a soldier is entitled (eg. BAH) (LES)

A

Entitlements Section

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14
Q

Section includes Fed Taxes, FICA, Medicare (LES)

A

Deductions Section

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15
Q

lists specific deductions the soldier has authorized to be paid to a designated payee such as AER , Tricare dental (LES)

A

Allotments Section

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16
Q

Section with computations made to determine a soldier’s end of month pay. (LES)

A

Summary Section

17
Q

Contains data pertaining to the soldier’s leave for the current and prior fiscal year. (LES)

A

Leave Section

18
Q

Contains Wage and Tax info. (LES)

A

Federal Taxes Section

19
Q

contains data pertaining to the deduction of Social Security and medicare taxes. (LES)

A

Federal Income Contribution Act Section

20
Q

reflects data used in computing certain entitlements such as BAH (LES)

A

Pay Data Section

21
Q

TSP (LES)

A

Thrift Savings Plan Section

22
Q

Provides information referencing any action affecting a soldier’s pay (LES)

A

Remarks Section

23
Q

There are 3 important base pay dates in your records:

A
  1. Pay Entry Basic Date (PEBD)
  2. Basic Active Service Date (BASD)
  3. Date Initially Entered Military Service (DIEMS)
24
Q

___ bridges the difference for a Soldier advanced to a higher pay grade but receiving less pay. It considers all pay and allowances to which the individual would be entitled if still enlisted.

25
9 types of Special Pay:
1. Proficiency/Special Duty Assignment Pay (enlisted) 2. Enlistment and Reenlistment Bonus (enlisted) 3. Hostile fire/imminent danger pay 4. Diving duty pay 5. Overseas tour extension pay (enlisted) 6. Hardship Duty Pay for Mission/Location 7. Sea duty pay 8. Foreign Language proficiency pay 9. Aviator Retention Bonus (6-13 years aviation service)
26
6 examples of Incentive Pay:
1. Aviation Career Incentive Pay (ACIP) 2. Hazardous Duty Incentive Pay (HDIP) (flying duty) 3. Parachute duty 4. Demolition duty 5. Experimental stress duty (acceleration, deceleration, thermal stress, high pressure) 6. Others (toxic fuels, chemical munitions)
27
7 examples of Allowances (not taxed):
1. Basic allowance for housing (BAH) 2. Overseas housing allowance (OHA) 3. Basic allowance for subsistence (BAS) 4. Cost of living allowance (COLA)- supplement to income in high-cost areas 5. Family Separation allowance (FSA)- involuntarily separated for 30+ days. Type 1 and 2 6. Clothing replacement allowance- enlisted, yearly 7. Officer's uniform and equipment allowance- one-time payment when appointed
28
What is DA Form 2142?
Pay Inquiries, submit if you think the army owes you money, or if you owe.
29
What is DD Form 93?
Record of Emergency Data
30
What is Death Gratuity Pay?
$100k paid within 72 hours of death
31
What is SGLI? (pay)
Servicemember's Group Life Insurance
32
___ SGLI provides an automatic additional $150,000 coverage for members in designated combat zones.
Combat
33
___ SGLI is a one-time payment up to $100,000 for Soldiers who are injured as a result of a traumatic event
Traumatic
34
___ SGLI is automatically added with Soldier for the Family. Soldier is beneficiary.
Family
35
What is VGLI? (pay)
Veteran's Group Life Insurance | more expensive, renew every 5 years
36
6 types of Life Insurance:
``` SGLI (no war clause or flying restrictions) Combat SGLI Family SGLI Traumatic SGLI Veterans GLI Commercial Life Insurance ```
37
Quality of Life Agencies
``` PX Gas post office chapels libraries crafts centers theaters club system ticketing ```
38
types of Beneficiaries:
Principal Contingent Divorce (update!)
39
BRS
Blended Retirement System