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Retiree Annuity Information Update

 

Retiree Annuity Information Update:
Learn more about your tax reporting for 2021

 

Cost of Living Adjustment

A 1.3% Cost of Living Adjustment (COLA) will be applied to the April 1, 2021 retiree payments. Army NAF retirees who have been retired for a minimum of 12 months are eligible for the full COLA of 1.3%. Retirees who have been receiving benefits for less than 12 months will receive a prorated COLA in 2021 based on the month they retired in 2020. For example, if you retired in January 2020 you will receive 1.3%, but if you retired in December 2020, the COLA would be 0.11%.  Please refer to the chart below:

 

Annuity Commencement COLA Percentage
January 2020 or before 1.3%
February 2020 1.19%
March 2020 1.08%
April 2020 0.98%
May 2020 0.87%
June 2020   0.76%
July 2020   0.65%
August 2020 0.54%
September 2020 0.43%
October 2020 0.33%
November 2020  0.22%
December 2020  0.11%

    
 
   

 

 

Frequently Asked Questions (FAQ) 

Q: Will John Hancock still be my service provider in 2020?
A: Effective April 1, 2020, John Hancock will no longer be the service provider for Army NAF retirees. Your retirement annuity will be managed in a new Army Benefits System.

Q: What changes can I expect as a result of changing to the new Army Benefits System?
A: 1. The amount of your annuity payment will NOT change; 
2. The schedule of your annuity payment will NOT change. However, the timing of the payment may change (e.g. the day you receive your deposit or check may change);                
3. The bank from where your annuity is paid will change.

Q: What is the address to the Army Benefits Office?
A: US Army Installation Management Command NAF Employee Benefits Office 
2405 Gun Shed Road
Joint Base San Antonio Fort Sam Houston, TX 78234-1223

Q: How do I request an address change for my pension?
A: Effective February 1, 2020, contact the Army NAF Benefits Office and a representative can mail, fax or email the address change form to you.

Q: How do I update my phone number or email address?
A: Email the Army NAF Benefits Office email and phone number update representative with your new information.

Q: How do I request a change to my pension direct deposit account?
A: Effective February 1, 2020, contact the Army NAF Benefits Office and a representative can mail, fax or email the Electronic Fund Transfer form to you.

Q: How do I request a change to my pension tax elections?
A: Effective February 1, 2020, contact the Army NAF Benefits Office and a representative can mail, fax or email the Tax Withholding Election form to you.

Q: How will I receive my 1099 tax form for 2019?
A: John Hancock will still produce and mail the 1099 tax form for 2019 to you by the end of January 2020.

Q: Will I receive a COLA for 2020?
A: Annual Cost of Living Adjustments, if awarded, for retirees are effective April 1st and you will receive communication on this in February.

Q: Why did my monthly pension decrease?
A: In most instances, you were receiving a Supplemental Early Retirement Benefit (SERB) for starting your retirement early/prior to your normal retirement date (Age 62).  Therefore, upon your 62nd birthday, your SERB will stop as you are now eligible to apply for early social security.

Q: How do I report the death of a retiree?
A: Effective February 1, 2020, contact the Army NAF Benefits Office at 210.466.1641 and speak to the Life Insurance Program Manager. Be prepared to provide retiree name, date of death and your relationship to the retiree. In the majority of cases, the Life Insurance Program Manager will only need a copy of the original Death Certificate to payout life insurance.  This office will also notify John Hancock to stop payment of the retiree's monthly annuity.  If a survivor benefits applies, John Hancock will mail the required forms directly to the designated beneficiary.

Still have questions? Contact the retirement representative at NAF Benefits.