Attention Retirees: Annuity Information Update
Attention Retirees: Annuity Information Update
Dear Army Nonappropriated Fund Annuitant:
I am writing to inform you that the Army Nonappropriated Fund Benefits Program is changing the way we process Army Nonappropriated Fund retirement annuity payments.
Just like with any system with which we have contact in daily life, we are taking the opportunity to improve and modernize our processes, making the system we use more secure, reliable, and responsive to you. John Hancock will no longer be our service provider; however, your retirement annuity will be managed in a new Army Benefits System.
These changes will go into effect on April 1, 2020.
Here is what you can expect as a result of this transition:
a. The amount of your annuity payment will not change.
b. The annuity payment will continue to be paid monthly, but you may receive it a day or two earlier or later than now; and
c. The bank sending your annuity payment will change. Your bank will not change.
d. Your tax statements for 2019 will not be affected, and will be mailed to you in January 2020.
If you have questions about this transition, please visit our Frequently Asked Questions (FAQ) page at www.nafbenefits.com/annuity-FAQ. We will continually revise and add to the FAQ page to keep you informed. Should you still have questions that are not answered on the FAQ page, please click "contact us" on the FAQ website and your questions will be referred directly to a member of our Retirement Team who will respond back to you.
We are committed to making this change as seamless as possible.
Q: How can I recognize when my annuity deposit has been made
A: The annuity deposit will be labeled: Army Community Payables
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 at email@example.com and a representative can mail, fax or email the address change form to you.
Q: How do I request a change to my pension direct deposit account?
A: Effective February 1, 2020, contact the Army NAF Benefits Office at firstname.lastname@example.org 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 at email@example.com 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: Please 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. This office will also notify the annuity payment office to stop payment of the retiree's monthly annuity. If a survivor benefits applies, the designated beneficiary will receive the required forms to complete.
Q: What Bank will be used effective 1 April 2020?
A: Annuitants' checks/EFTs will come from Wells Fargo.
Still have questions? Contact NAF Benefits.