52 CPTS news

New Allotment Policy!

Q and A

1) What exactly is an allotment and where do you look to monitor it? An allotment is a recurring deduction from a military member's pay. You can monitor all of your allotments by checking MyPay or looking at your LES. There is a new DOD-wide policy regarding allotments and members can be punished under the UCMJ if they start an allotment against the new policy.

2) How were service members able to use allotments before and what is the new rule? There weren't really any restrictions when it came to allotments before 1 Jan 2015. The types of allotments that will be prohibited by the policy change are those allotments to include, but not limited to, allotments for vehicles,  appliances or household goods, electronics or other consumer items that are tangible and movable. 

3) Why was this new rule put in place? To prevent businesses from taking advantage of service members. This change will be implemented in MyPay.  Service members will see a new banner asking him/her to certify the following: "Under penalty of the Uniform Code of Military Justice, I certify that this allotment is NOT for the purchase, lease, or rental of personal property of or payment toward personal property." Without acknowledging this certification, the service member cannot start a new allotment.

4) What are the allotment options that service members are left with? Service members can still start allotments for dependent support, pay insurance premiums, mortgages. 

5) Where can someone go to find out more information about allotments or any other financial matter? To find more information about what allotments service members can make they can come to the finance office or view this article at defense.gov.
 

Roth TSP Change

Your Roth Contributions May Stop Unless You Act

A new change in myPay requires you to designate your Roth contributions as a percentage of your pay, not a dollar amount. If you don't comply with this change, then the Defense Finance and Accounting Service (DFAS) will no longer be able to process your Roth contributions. This change affects your Roth contributions only; your traditional contributions are already designated as a percentage of pay.

When the change will take place:

You have until the end of January to change your Roth election from a dollar amount to a percentage of your pay. If your new Roth election is not received by January 31, then DFAS will not be able to process your Roth contributions until you update them.

How to make the change:

Log into myPay. Click the special TSP section called "Traditional TSP and Roth TSP." Then, in the "Contribution from Roth TSP" section, you can enter the percentage of your pay that you'd like to contribute (10%, for example). Finally, click "Save" at the bottom of the screen. All changes must be received by January 31 to avoid interruption.

For additional information regarding TSP, please go to tsp.gov.