Attention Retirees: CRDP/CRSC OPTION UPDATE
2008-Dec-26 at 12:15 by Veterans Law Project
If you are a military retiree and eligible for both CRDP and CRSC, you may elect to change which compensation you receive during the CRDP/CRSC Open Season. This annual Open Season election period is Jan. 1 thru 31 JAN 09, and allows the retiree to choose which payment is preferred. You may receive one or the other but not both.
In late DEC 08, eligible retirees will be mailed a CRDP/CRSC Open Season Election Form. The retiree needs to return the form only if making a change from CRDP to CRSC or vice versa. If the retiree prefers to keep things the way they are, do nothing. The payments the retiree now receives will continue uninterrupted.
To help the retiree make a more informed decision, the form will include a comparison of the CRSC and CRDP entitlement amounts as well as information about the collection actions and taxes to which each type of payment is subject.
If the retiree wants to change from CRDP to CRSC or vice versa, the form must be postmarked by 31 JAN 09. If the form is dated after this date, it will not be processed and the current payments will continue uninterrupted.
The change in the payment will be effective with the first business day of FEB 09. Due to a 30-day processing timeframe, the retiree may not receive their first payment until the first business day of MAR 09, including a retroactive adjustment for the payment that would have been paid on the first business day of February.
[Source: NAUS Weekly Update for 26 Nov 08 ++]
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