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Preparing for Life Events

Life has a way of interrupting your financial plans, and adding additional burdens to your personal finances. Somethings, like college or retirement, are natural part of life. However, other life events that happen are out of your control and put you in situations that can drastically affect your personal finances. Don’t let yourself be overwhelmed by a financial crisis. Be prepared to deal with life events by browsing through our articles or downloading booklets from our library.

Military

Support

Be sure to check out the National Committee For Employer Support Of The Guard And Reserve (ESGR), which will help both you and your employer. Visit the official ESGR Website, and you will find resources, guides, useful services and much more.

The National Committee for Employer Support of the Guard and Reserve(ESGR) was established by Presidential proclamation, as an operational committee under the Office of the Secretary of Defense. It is the sole Department of Defense agency directed to promote public and private understanding of the National Guard and Reserve in order to gain employer and community support that encourages employee and citizen participation in the National Guard and Reserve.

Today, ESGR is comprised of a community-based volunteer network of over 4,500 members, who serve on 54 committees (in every state, the District of Columbia, Guam, Puerto Rico and the Virgin Islands), implementing employer support programs within their local communities.

National Committee for Employer Support of the Guard and Reserve maintains a web page of information concerning all of its programs and activities at www.esgr.org. Many local ESGR committees have also developed web sites to support their ESGR mission. The national website contains information of interest to employers, Reservists, and committee members about ESGR programs and activities and USERRA. It lists points of contact for each ESGR Committee and for the national staff.

Reserve Component members are able to nominate their employers for recognition through the on-line "My Boss is a Patriot" nomination form. The website also lists ESGR fact sheets, the Federal statute (USERRA), the current ESGR public service advertisement, and various links to other web sites, including the Office of the Assistant Secretary of Defense for Reserve Affairs, the Department of Labor, the Reserve Components, and other National Guard and Reserve associations.

Soldiers and Sailors' Civil Relief Act (SSCRA) - Although all service members receive some protections under the SSCRA, additional protections are available to reserve components called to active duty. Make sure you learn everything there is to know about this act. Under it, you could qualify for:

· Reduced interest rate on mortgage payments.
· Reduced interest rate on credit card debt.
· Protection from eviction if your rent is $1,200 or less.
· Delay of all civil court actions, such as bankruptcy, foreclosure or divorce proceedings.

Note that most of the protections SSCRA offers are good only during your duration of your active duty assignment. For more on SSCRA or contact your unit or installation legal assistance office.

Leave and Earnings Statement (LES) - Each month, service members receive a LES showing their pay for the preceding month and any changes that will affect their pay for the current month. The LES will also show pay for special assignments; allowances for food, housing, and clothing; leave earned and used; and what deductions were taken out of their pay for established allotments, insurance, and taxes. Also included is drill and retirement information. Units will often offer a class on reading an LES for both the service member and spouse before long-term deployment.

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