Well, you need to know lots of stuff, much more than I could ever write about here. If you are leaving the service or retiring, I hope that you are taking advantage of the pre-separation counseling and educational services that your branch offers. However, there is a small, simple thing that many people seem to miss in their briefings, and it is important to know:
Your last active duty paycheck may be held up to 60 days pending the clearing of any debts to the military.
What this means is that on the day you are expecting your last active duty pay to hit your account, it probably won’t be there. If you look on the LES, it will probably say HELD PAY. Once your account has been cleared, your last pay will come via Electronic Funds Transfer (EFT) into the account that your pay is regularly deposited.
You will still be paid everything that is owed to you, but it will mostly likely be delayed. If you don’t know, and you haven’t planned for it, that can be a serious problem. But now you know, so you can plan and be prepared.
Congratulations to all of you who are moving on to the next chapter of your life.