The HEART Act
The Heroes Earnings Assistance and Relief Tax Act of 2008 (The HEART Act) provides tax and pension benefits to Service members who are disabled while on active duty for more than 30 days and to their Survivors if they die on active duty.
The HEART Act requires employers and sponsors of qualified defined benefit and defined contribution plans, such as 403(b) arrangements, and section 457(b) education plans to treat Service members as being reemployed by the sponsor company for purposes of entitlement. The purpose of this is to provide Service members and their Survivors for benefits they may not otherwise have been entitled for.
The benefits of the HEART Act depend on the specific benefits of the employer's plan documents and may include:
Accelerated vesting in retirement plans
Additional life insurance benefits
Survivor benefits, such as investment of Death Gratuity and Servicemembers Group Life Insurance (SGLI) payments into Roth IRAs and Coverdell education savings accounts without ordinary limitations
FALLS CHURCH, VA, January 20, 2023 - In recognition of National Blood Donor month in January, the Armed Services Blood ProgramOpens ASBP reminds the military community about the importance of donating blood.
FALLS CHURCH, VA, January 17, 2023 - The new year is here, so it’s important to take stock of your family’s overall health plan coverage. This is especially true when it comes to other health insurance (OHI). You may have had OHI last year, but now no longer. Or perhaps you’ve recently gained or changed OHI. In any of these cases, make sure your OHI information is current with TRICARE, so your health care claims are processed accurately.