Starting with the September 2020 mid-month pay period through the end of the year, most service members will see paychecks increase by about 6.2%, but will have to pay back all of that money through larger withholdings from Jan. 1 through April 2021. Military retirees will not be affected. Service members and DoD civilians "are not eligible to opt-out of the deferral if their Social Security wages fall within the stated limits. The deferral will happen automatically." For more information see these links:
How can I find information on the Payroll Tax Deferral Plan? Print
Modified on: Mon, Sep 14, 2020 at 10:19 AM
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