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Delivering Aid to PakistanOur military forces have responded when the world’s citizens have
fallen victim to natural disasters. They continued to deliver aid to
those affected by the recent earthquake in Pakistan over the winter,
when quake survivors faced additional hardships. On the HuntGrab your résumé and head to MOAA’s sixth annual career fair, May
2 from 10 a.m. to 3 p.m. at the Washington, D.C., Convention Center,
Hall E. Employers from a variety of fields — federal and state
government, law enforcement, DoD contracting, and more — will be
there. Bodog Gives It Up to Troops
A poker tournament complete with a concert and comedy show was held
recently in Oahu, Hawaii, in honor of U.S. soldiers and their
families. Bodog.com, an online
gambling site, hosted the charity event, which included celebrities,
musicians (including Snoop Dogg), comedians, and troops. The event
benefited the Fisher House Foundation, which supports military
families. When to Salute
On the web
Answer a poll on veterans saluting at
www.moaa.org/salute.
In ReviewBrotherhood of Heroes: The Marines at Peleliu, 1944 By
Bill Sloan. Simon & Schuster, 2005. ISBN 0-7432-6009-0. True North: Peary, Cook, and the
Race to the Pole By Bruce Henderson. W.W. Norton & Co., 2005.
ISBN 0-393-05791-7. — William D. Bushnell SPECS VisionFor many years MOAA has worked with Cole Vision to provide its members the SPECS Vision Discount Program. In mid-2005 Cole Vision was purchased by EyeMed, which will discontinue SPECS and other programs like it March 31, 2006. After that date retailers will no longer accept the SPECS card. If you want to use your SPECS discount before the end of March, you may use your current card with the expiration date of Dec. 31, 2005; print a new card with the March 31, 2006, expiration date from the Member Offers section of MOAA’s Web Base at www.moaa.org; or simply use plan number 47021 at participating retailers. To find a retailer near you, call (800) 804-4384. Miscellany: Home Loans and Sport NewsHomes made easy The VA has increased its home loan guaranty limit. Veterans now can get no-down-payment loans up to $417,000, up from $359,650. With VA-guaranteed loans, made by banks and mortgage companies, veterans can receive a competitive interest rate without making a down payment. Visit www.homeloans.va.gov.
Member Bonus
You now can find a variety of articles, tips, and thoughts on
financial issues from experts at USAA on MOAA’s Web base. Visit www.moaa.org and
click on Financial Center under Services.
Going for the gold Disabled veteran athletes now can set their sights even higher. An agreement between the U.S. Olympic Committee and the VA allows participants in the VA’s National Veterans Wheelchair Games and the National Disabled Veterans Winter Sports Clinic to qualify for the U.S. Paralympic Team. Nutrition Notes: Sugar, SugarSome people try to limit the amount of sugars they consume to lose weight or because they have certain medical conditions, such as diabetes mellitus. The FDA has approved several alternative sweeteners; however, anecdotal reports continue to question the safety of some of these products.
On the web
For ideas on cooking with sugar substitutes, visit
www.moaa.org and click on Health
and Wellness under Services.
Sugar alternatives are of two basic types: nonnutritive and
nutritive sweeteners. Nonnutritive sweeteners are low-calorie
sweeteners and include saccharin, aspartame, acesulfame K, and
sucralose. Early concerns about saccharin causing human urinary
bladder cancer based on animal studies have not been substantiated
in later human studies. An Eye on Tax ChangesAs of Jan. 1, 2006, the Federal Estate Tax Exclusion increased to
$2 million per person (up from $1.5 million in 2005) and the Annual
Gift Tax Exclusion increased to $12,000 per donor per donee (up from
$11,000 in 2005). The $2 million exclusion amount provides a credit
of $780,800 to offset taxes owed by an estate. These changes mean
fewer estates will be subject to taxation at the federal level and
will allow for greater annual giving opportunities. Although the
increase is welcome, remember your gross taxable federal estate
includes: Many people forget to add the value of life insurance when estimating their potential estate tax liability. The chart below summarizes the projected changes in estate tax exemption levels over the next several years:
Although Congress repealed the estate tax, it is only effective for one year — 2010. Under current law, the federal estate tax returns in 2011 with the threshold reduced to $1 million and the top bracket skyrocketing to 55 percent. Keep your eye on this issue so you don’t get blindsided in 2011! Enrollment Changes for TSPEffective in 2006, civilian and military employees are no longer subject to a percentage limit on the amount they may contribute to a regular Thrift Savings Plan (TSP) account. They may contribute the full amount allowed by the IRS annual elective deferral limit, which is $15,000 for 2006.
On the web
Information on TSP investment funds is available on the TSP Web site
at
www.tsp.gov/rates/fundsheets.html.
Investing in TSP is not limited to stocks. People can choose safer
investments, such as government securities, or invest in the new
Lifecycle Funds. Open seasons were eliminated July 1, 2005, so
employees may start, change, stop, or resume their TSP contributions
at any time. For the Student in Your LifeStudents in military families now can receive free SAT and ACT test preparation programs. In association with DoD, eKnowledge LLC announced that a group of NFL, NFL Europe, AFL, and CFL football players has sponsored several million dollars’ worth of programs (valued at $199 each) to military families for the 2005-2006 school year.
On the web
For more information, visit
www.militarystudent.dod.mil
Military personnel, active or retired, can request as many programs as they need, paying only the cost of shipping and handling. Each program has two CD-ROMs that include more than 10 hours of training video and require approximately 40 hours of student participation. Active Duty SpotlightLt. Cmdr. George G. Reichert serves as ship’s nurse aboard the
USS Nimitz. — Mark Cantrell Attention!Check out these military-related entertainment offerings.
Book >> My War: Killing Time in Iraq
(Putnam Adult, 2005): Colby Buzzell, a U.S. Army machine-gunner
who did a yearlong tour in Iraq, writes about the long, boring
spells interrupted by wild fits of confusing action. Buzzell first
started writing about his experiences in a blog. MOAA’s Call for Resolutions
Resources
Proposed resolutions must be received no later than March 15. Send
to the Committee on Resolutions, MOAA, 201 N. Washington St.,
Alexandria, VA 22314-2539.
MOAA’s biennial resolutions offer members the opportunity to
participate in the management and direction of the association. Any
member may propose a resolution, which should address a legislative
or management issue related to the purposes of the association.
Proposed resolutions need not be wordy or legalistic, but should
express ideas clearly and briefly. A Resoultions Committee,
appointed by the chairman of the board, will review all submissions.
If the committee finds a proposed resolution to be relevant to the
association’s purposes, it will be structured to the desired format.
All elegible members will vote on the resolutions through the ballot
process.
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