Navy League of the United States, Naval Services FamilyLine Endorse Military Spouse Retirement Benefit Tax Credit
ARLINGTON, Va. — The Navy League of the United States — a nonprofit civilian, educational and advocacy organization that supports America’s sea services: the Navy, Marine Corps, Coast Guard and U.S.-flag Merchant Marine — and Naval Services Family Line — a volunteer, nonprofit organization dedicated to serving naval spouses across the country and the world — announce their official support of S. 4173, the Military Spouses Retirement Security Act, a bipartisan bill sponsored by Sens. Susan Collins (R-ME) and Maggie Hassan (D-NH).
This legislation bridges the gap between beginning employment and vesting in the new employer’s retirement plan by encouraging small employers to provide spouses of active duty service members accelerated eligibility for retirement plans and immediate vesting of employer contributions. Small employers – with 100 employees or fewer – would be eligible for a tax credit of up to $500 per year (for three years) per military spouse if they make a military spouse eligible for retirement plan participation within two months of hire, at which point the spouse must also be made eligible for employer contributions and be fully vested in all employer contributions.
“This legislation would address a unique struggle of military spouses, who often move every three years just before they are able to vest in employee retirement plans. This bill will aid retention by strengthening the financial position of military families, thus strengthening the sea services as a whole,” said Mike Stevens, Navy League National President and retired 13th Master Chief Petty Officer of the Navy.
The 2017 Pentagon Survey of Active Duty Spouses found they are often underemployed and overqualified for employment they have, while a 2018 White House report found military spouses “earn on average 26.8% less than their nonmilitary peers, amounting to more than $10,000 of lost income each year.”
“Naval Services FamilyLine appreciates all efforts to improve our sea serving spouses’ military journey,” said Junifer Thomas, chairman of Naval Services FamilyLine. “This bill sponsored by Senators Collins and Hassan is a great step in that endeavor.”
Navy League Media Contact
Danielle Lucey
Senior Vice President of Communications
dlucey@navyleague.org
(703) 312-1580
About the Navy League of the United States
The Navy League of the United States, founded in 1902 with the support of President Theodore Roosevelt, is a nonprofit civilian, educational and advocacy organization that supports America’s sea services: the Navy, Marine Corps, Coast Guard and U.S.-flag Merchant Marine. Through national and local programs, the Navy League of the United States provides a powerful voice to educate the public and Congress on the importance of our sea services to our nation’s defense, well-being and economic prosperity. The Navy League provides support to our sea services personnel and their families and youth programs, such as the Naval Sea Cadet Corps, Junior ROTC and Young Marines, that expose young people to the values of our sea services. For more information, go to www.navyleague.org.
Naval Services FamilyLine Media Contact
Emily Pratt
Social Media Manager
socialmediamgr@nsfamilyline.org
(877) 673-7773
About Naval Services FamilyLine
Naval Services FamilyLine (NSFL) is a volunteer, non-profit organization dedicated to serving naval spouses across the country and the world. Its network of experienced and trained volunteer spouses mentor, consult, and guide sea services families.
FamilyLine, formerly known as Navy Wifeline Association, was established in 1965 by a group of wives who wanted to form a channel of communication for all Navy spouses. The aim was to provide a welcome and introduction to Navy life and to increase the spouses’ understanding of the Navy’s mission. This dedicated group established an office at the Washington Navy Yard, where it continues to exist today. These Navy wives had the foresight to see the need for spouse and family support and provided the ground work for what has developed into a world-wide family support network. For more information, go to www.nsfamilyline.org.