Members of the military are paid according to a Military Pay Chart that the Senate passes and the Presidents signs into law. On December 19, 2009, President Obama signed the appropriations bill that would pay for the National Defense Authorization Act for the fiscal year of 2010.
The National Defense Authorization Act
The National Defense Authorization Act, which became effective on January 1, 2010, raised the monthly pay rate for the Armed Services by 3.4%. Particularly affected were the enlisted members who reached their thirty year tenure mark. The thirty year high year tenure personnel are the last to have been under the final pay retirement method.
The Military Pay Scale and VA Loans
The United States grants veterans a number of benefits as thanks for their service to their country. Our VA Loan company specializes in being VA Loan experts, which are loans guaranteed and insured by the VA in case the veteran or otherwise qualified personnel defaults on their loan.
The terms and rates that veterans receive with VA Loans are often determined in part by their monthly income, so our VA Loan company provided the Military Pay Chart below for your perusal.