Your Military Familys Everything-You-Need Binder. I may receive compensation through affiliate or advertising relationships from products mentioned on this site. In 2022, runaway inflation contributed to the big increase in this year's COLA, which will hopefully put consumers in the military community at ease as they face out-of-control cost increases and further supply chain snafus. This raise is lower than the 2020 amount of 3.1%. NOTE 2. Justin Fisher is a currently serving with the Arkansas Army National Guard. The 2023 military retiree pay raise was decided in October 2022 and is looking to help Veterans overcome harsh inflation. He is now a full-time dad, freelance writer, and out-of-work comedian. The Bureau of Labor Statistics in the Department of Labor is responsible for measuring the CPI-W. Veterans will see their COLA kick up their pay somewhere between $10-$90 per month. 8p0!e
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Certain military members will not see the total retired military pay raise in 2022 due to a variety of circumstances. General Officer Pay Limits: Basic pay is limited to the rate of basic pay for level II of the executive schedule in effect during the calendar year 2022 for officers at pay grades O-7 through O-10. 2022 Military Pay Charts Enlisted: E-1 - E-3 2022 Pay Charts (2.7% increase from 2021) Enlisted: E-4 - E-6 2022 Pay Charts (2.7% increase from 2021) Senior Enlisted: E-7 - E-9 2022 Pay Charts (2.7% increase from 2021) Warrant Officers: W-1 - W-3 2022 Pay Charts (2.7% increase from 2021) Warrant Officers: W-4 - W-5 of Veterans Affairs, please visit their website at va.gov. This Single Close Loan gets you from construction to occupancy with one mortgage in a streamlined process. That means that someone with a 10% disability rating starts at an additional $8.50, but someone with a disability rating of 80% would receive $68 more than in the past. Iraq and Afghanistan Veterans of America (IAVA) is the nation's largest nonprofit, nonpartisan organization representing new veterans and their families. Twenty years of active-duty military service is required to qualify for retirement from active duty. Level V of the Executive Schedule limits military basic pay for pay grades O-6 and below to $14,341.80 per month. Neither Veteran.com nor Three Creeks Media are associated with or endorsed by the U.S. President Biden is expected to sign the National Defense Authorization Act for 2022 before the new year. [(fvZt2g(QB2P E~{wJz\_AB!8wsA! How Much Will Retired Military Pay Increase in 2022? Dfas 2021 Retired Pay Chart February 9, 2022 by Military Pay Chary Basic Military Pay Chart Military Pay Chart 2020 2020 Military Pay Chart for Basic Duty Enlisted (less than 2 to over 40 years) 2020 Military Pay Chart for Active Duty Officer (less than 2 to over 40 years) Military Pay Chart 2021 The military pay charts apply to all Air Force, Army, Coast Guard, Marines, Navy, Space Force and reserve personnel, where applicable. endstream
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Advertiser Disclosure: Opinions, reviews, analyses & recommendations are the authors alone. Military Pay Charts and Military Retirement Calculators Military and Retiree Pay Problems Pension Benefits for Military Retirees The military has two retirement systems: The new Blended Retirement System (BRS) The legacy High-3 system Which plan you fall under depends on when you joined the military and whether you chose to opt-in to the BRS. Monthly basic pay amounts in the chart below are rounded to the nearest U.S. dollar. The increase is in-line with U.S.C. Military retirement pay is paid on the 1st of the month, unless the 1st is on a weekend or holiday, in which case it is paid on the previous business day (the last business day of the previous month.) Neither The Military Wallet nor Three Creeks Media are associated with or endorsed by the U.S. If you have questions of a specific nature consider consulting a financial professional, accountant or attorney to discuss. Combat zone tax-exclusion pay for officers: The combat zone tax exclusion for O-1 and above is based on the basic pay rate shown in note 3 plus hostile fire or imminent danger pay, which is $225.00 per month (prorated). %%EOF
If you have retired or separated from the military, you likely know about, VA Updates Funding Fee Rules For Disabled Veterans The Department of Veterans Affairs has issued new guidance on VA loan funding fees and their exemption for disabled veterans. The senate of the USA has passed its 2021 National Defense Authorization Act proposal on, July 23, 2020. The cost of living adjustment for 2023 will be 8.7% for Social Security checks, VA disability compensation and other government pension and benefit programs. The full House passed the same with a vote of 355-78 on Tuesday of this week. Advertising Notice: The Military Wallet and Three Creeks Media, its parent and affiliate companies, may receive compensation through advertising placements on The Military Wallet; For any rankings or lists on this site, The Military Wallet may receive compensation from the companies being ranked and this compensation may affect how, where and in what order products and companies appear in the rankings and lists. If you click on an advertisement or link, I may be compensated. Below are the 2023 pay charts for officers and warrant officers in every branch of the U.S. military. Enter your email for updates and we'll send them straight to your inbox! In 2022, runaway inflation contributed to the big increase in this years COLA, which will hopefully put consumers in the military community at ease as they face out-of-control cost increases and further supply chain snafus. of Defense or any governmental entity. If you have questions about Veteran programs offered through or by the Dept. hbbd``b`*E , H&M@ qXAe qk#H/#i?
References to third-party products, rates and offers may change without notice. This legislation is more than 10 percent higher $28.1 billion than the 2021 budget. Monthly basic pay amounts are rounded to the nearest U.S. dollar and are for the active components of the Navy, Marine Corps, Army, Air Force, Space Force, and Coast Guard. Military basic pay for O-7 through O-10 is limited by the Level II of the Executive Schedule (EX). Kings High Media/KateHorrell.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. If the increase does happen, it will be the largest . See If Youre Eligible Today, Check your VA home loan eligibility with todays top lenders, 2023 Retired Military and Annuitant Pay Dates, 2023 Reserve and National Guard Drill Pay. This blog is strictly for informational and entertainment purposes only. A Duty Disability Retiree will pay the rate listed below under "Employee Rate" for the plan selected each month CHART 8 - 2022 HEALTH PLAN UHC CHOICE PLAN City Share Employee Rate . So grab a cup of coffee, tea, or whatever makes you happy, and let's get to know each other. You might also be interested in the following high-value blog posts: On May 28, 2021, President Biden released his budget proposal for Fiscal Year 2022. Here are the pay charts for enlisted members. Veteran.com is a property of Three Creeks Media. Having a constant income with a reward that without tax . Changes to VA loan policies in 2023 have altered the structure and amount of the VA loan funding fee, as, Veteran Tax Benefits When tax season arrives, it pays to find as many legal tax breaks as possible, and there are plenty of those for those who served. The content on The Military Wallet is produced by Three Creeks Media, its partners, affiliates and contractors, any opinions or statements on The Military Wallet should not be attributed to the Dept. The Senate is expected to complete their version of the bill in the coming weeks. 2022 Military Active & Reserve Component Pay Tables (PDF - Posted Dec. 2021) 161(c)). Military basic pay is the compensation a service member can expect without allowances, benefits, reenlistment bonuses, proficiency pay or other special pay. The compound is in line with the proposal developed by the House of Representatives and also The President. This post may contain affiliate links, from which I may earn revenue to support this free site. Military basic pay depends on rank/pay grade and years of service. Eligible survivors will also see their Special Survivor Indemnity Allowance (SSIA) increase by the same percentage. of Veterans Affairs, please visit their website atva.gov. Editor's Note: This story was updated Sept. 23, 2022, after new estimates for the upcoming disability and military retirement compensation were released by The Senior Citizens League, which showed slightly lower projected increases. Take a look at the 2022 military pay charts below. NOTE 1. The senate of the United States has passed its 2021 National Defense Authorization Act proposition on, July 23, 2020. The content on this site should not be considered professional financial or legal advice. I hope that you find these calendars useful. Retired Pay Base There are two ways of calculating your military retired pay base, the final pay method and the high 36 method. Military retirement pay is paid in arrears, meaning that the payment on the 1st of the month is for . Enlisted pay grades range from E-1 through E-9 ("E" represents Enlisted). Departments of Defense or Veterans Affairs. If you have questions about Veteran programs offered through or by the Dept. We cover a little bit of everything. You can also see the proposed 2022 drill pay charts here. He holds a Bachelors in Arts in Communications and hosts a weekly podcast featuring candid interviews with members of the military. The 2.7% pay raise came on the heels of a 3.0% raise in 2021, which was the second-largest pay raise in over a decade. However, this can also serve as a guideline and the White House or Congress can propose another figure. The 2022 military pay charts reflect a 2.7% increase in military basic pay. The resulting percentage for the period to be applied toward January 2022 sits at 2.7%. When a new year comes around, the cost of living adjustments (COLA) come with it. Across the board, retired and disabled Veterans will be getting a 5.9% retired military pay raise. This includes officers serving as chairman or vice-chairman of the Joint Chiefs of Staff, chief of staff of the Army, chief of naval operations, chief of staff of the Air Force, commandant of the Marine Corps, commandant of the Coast Guard, chief of the National Guard Bureau or commander of a unified or specified combatant command (as defined in 10 U.S.C. What Is the 2022 COLA for Military Retirees? endstream
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The 2022 military pay charts reflect a 2.7% increase in military basic pay. The military pay raise can be highly debated each year. The Social Security Administration announced the increase in October of 2021, to take effect on January 1, 2022. The 2022 military pay charts reflect a 2.7% increase in military basic pay. COLA is calculated by factoring in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). 1009..", and ensures the statutory raise of 2.7 percent with an effective date of January 1, 2022. If you have questions about Veteran programs offered through or by the Dept. Robert Haynes is a retired Army infantryman who has a squad of kids and is married to an active duty Soldier. m%x^q.F^wy+ogz$9|_~,>_fmB*]STiW^rF-jl Ont/e. The highest possible payment from SSIA in 2022 is $346. Military retirement in the United States is a system of benefits designed to improve the quality and retention of personnel recruited to and retained within the United States military.These benefits are technically not a veterans pension, but a retainer payment, as retired service members are eligible to be reactivated.The United States has maintained a military retirement program in one form . Your email address will not be published. 2021 Military Pay Grade Chart for Active Duty Officer (less than 2 to over 40 years) Retired Military Pay Chart 2021 - A military participant that serves on basic duty and active service is entitled to obtain an allowance, services, and also advantages as arranged by regulation. Any opinions are those of the author alone, and not those of an advertiser to the site nor of Veteran.com. %%EOF
Just in case you need a simple salary calculator, that works out to be approximately $25.82 an hour. Want 30+ Military / Veteran Discounts to use today? All Rights Reserved. For 2022, unless a separate action is taken by the President or Congress, the pay raise will be 2.7 percent based on law indicated in U.S.C. Three Creeks Media, LLC 2023. The ECI (US Employment Cost Index) determines the pay raise each year. (BA*v=>%wVbIS=Qro%v5D $)[jHn)DB]M=]1E,N4;[Nnv#5[VE}:I`-IcCO'4u:\Y+"w0'b6\Q7q%Enyk\(*, ]G'..*Q|ceQg&c6tY+B7[YBE0eeBeInBo0#Z#mDHw`y+k7 6J}!t6elF*hY? 2022; 2021; 2020; Enlisted Basic Pay Rates This pay table is used to determine the monthly basic pay for enlisted servicemembers in all branches of the Armed Forces. The ECI is based on the data for 12 months through each September. For most service members, basic pay is the largest component of monthly compensation. If you have questions of a specific nature consider consulting a financial professional, accountant or attorney to discuss. At that rate, this years raise amounts to a handful of annual raises all at once. Neither Veteran.com nor Three Creeks Media are associated with or endorsed by the U.S. 2!.QXte=tF>U>G-u]LVMBQ>!IP This is the equivalent of $1,032/week or $4,475/month. 2022 Military Pay Chart - The General Schedule (GS) pays a base salary and overtime pay to federal workers. The bill now moves on to President Trump for signature. The pay increases went into effect on Jan. 1, 2022, and service members received their first increased paychecks on Jan. 14, 2022. 37 U.S.C. endstream
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For 2022, retired military members will see a $59 increase for each $1,000 of military retirement pension they receive each month. Here are the 2021 drill pay charts, if you'd like to see how much your pay has increased by dollar amount. This mornings release is important to our military because it is the first indicator used to determine the actual pay raise amount for 2022. All Rights Reserved.Site development by Olive & Ivy Design. Additionally, in most cases, survivors of members who died on. , this is something that Veterans, their families, and survivors can get excited about. The pay increases went go into effect on Jan. 1, 2022 and service members received their first increased paychecks on Jan. 14, 2022. Comment * document.getElementById("comment").setAttribute( "id", "a51dcf65a4c079b6a4155b1d20dd6999" );document.getElementById("ef5eefa35b").setAttribute( "id", "comment" ); Notify me of follow-up comments by email. As the official healthcare program of the U.S. DoD, TRICARE coverage is accepted by, All the Military Mascots in the U.S. Armed Forces, Were all familiar with Mr. Met, Benny the Bull, and Rocky the Mountain Lion, but did you know, When a new year comes around, the cost of living adjustments (COLA) come with it. endstream
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That number is followed across a range of time constituting the third quarter of the previous year to the third quarter of the current year. The 2.7 percent pay raise is effective January 1, 2022. By clicking Get Discounts you agree to our Privacy Policy.
)h{v}/A(-CEfr #-F9xaR9EuZ:&CNy9H$-B09I)5`}.50Yn]Ow@WwWTV\\/\ns}o@o! They do not account for non-taxable allowances such as BAS or BAH. With all the news about. e RT,
b\P8%a3fHi~p]B5&.0 Retired military personnel of 66 or 67 year, will get Social Security benefits of $2,972, which is currently only $2,734. The content offered on Veteran.com is for general informational purposes only and may not be relevant to any consumers specific situation, this content should not be construed as legal or financial advice. Not only is a pay raise coming for military retirees, but its also the biggest increase in pay since 1982. The President has the authority to specify an alternative pay adjustment that supersedes the automatic adjustment. I don't like spam, and I won't send it to you., either. The new pay scale takes effect on January 1, 2022. The new pay rate went into effect on Jan. 1, 2022. The content on Veteran.com is produced by Three Creeks Media, its partners, affiliates and contractors, any opinions or statements on Veteran.com should not be attributed to the Dept. Increase of nearly 6% slated for Jan. 2022. The first paychecks with the 2022 military pay raise went out on Jan. 14, 2022. Youll have to scroll down to find the version that you want. 0.00: 0.00 0.00: 0.00 0.00: 0.00 0.00: 0.00 0.00: 0.00 16974.90: 16974.90 16974.90: 16974.90 16974.90: 16974.90 16974.90: 16974.90 16974.90: 16974.90 16974.90 Departments of Defense or Veterans Affairs. HMkGko0[EBL"! All members of the U.S. Armed Forces receive basic pay, although the amount varies by pay grade and years of service. Now check your email to confirm your subscription. Any Veteran who opted to retire under the REDUX system and who entered the military on August 1, 1986, or after, for instance, will see a 1% decrease in their total COLA, as will some military retirees who left the service during 2021. In 2022, figures point to at least a 6% increase, meaning military retirees could be watching their monthly checks go up from $100 to $200 more. Most military retirees will receive a 5.9 percent increase to their retired pay beginning with the pay they receive on January 1, 2022, which is the largest such increase since 1982. 2022 Military Pay Charts Congress has now approved the National Defense Authorization Act for Fiscal Year 2022 (FY22 NDAA), which confirmed a 2.7 percent pay increase for active members of the armed forces. of Veterans Affairs , the Dept. Here are the 2022 military pay charts, according to the 2022 National Defense Authorization Act. sk(:Wdl M]l;>FY^Y_.`B7X-e+]lr-Rx L
The military pay charts below are for all U.S. Armed Forces personnel, including the Air Force, Army, Coast Guard, Marines, Navy, Space Force and Reserves forces where applicable. All reviews on this site represent the personal opinions of the author. Title 37, Chapter 19, 1009. Information from your device can be used to personalize your ad experience. FREE Weekly Updates! Another way to look at the numbers is to expect an additional $59 for every $1,000 of military retirement pension received each month. All opinions are my own, and I only promote products that I use and love! The Military Wallet is a property of Three Creeks Media. Military pay derives from the Employment Cost Index (ECI) formula and thedraft 2023 defense budget. 1431 0 obj
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Compare the rates, fees, and rewards of top credit cards for military servicemembers and veterans, including cards with waived annual fees under the SCRA. Kate does not represent the Department of Defense, the Department of Veterans Affairs, or any government agency. My goal is to give you the tools to make the best decisions right now, so you'll be confidently prepared for whatever comes next - whether that's a PCS move, transition to civilian life, or retirement. She is a veteran with over 11 years of military service and equal experience in the civilian journalism industry. Department of StateCivilian Personnel Mgmt ServiceDTS Travel CenterSystem for Award Mgmt (SAM) Congressional/Legislation It also established a $15 minimum wage for covered service and construction contracts. Disclaimer: MilitaryRates.com is a private website that is not affiliated with the U.S. Department of Veteran Affairs, any U.S. government agencies, or any U.S. military branches. Her award-winning columns, narrative features and investigations have spanned multiple coverage areas and influenced life-saving policy changes. How It Works With Your Military Insurance, Does CVS take TRICARE? Any opinions are those of the author alone, and not those of an advertiser to the site nor of Veteran.com. All references to third party products, rates, and offers may change without notice. hj0_E/t-Kpf4PAKDbp`%{$5KJtw:~ aq,HcDa/ i5H*%z
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Enter your information to join our mailing list. 2022 Active Duty Officer Basic Military Pay Chart The decision affects approximately 70 million Americans and other federal . (a) Prior to age 62: 2.5% times the number of years of service minus 1.0% for each year of service less than 30, times the average of the member's highest 36 months of basic pay. Driven by inflationary pressures, the Department of Defense on Friday announced a 5.9% increase cost-of-living pay increase for most military retirees . By clicking Get Discounts you agree to our Privacy Policy. 0
pay under 2 2 3 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 grade 0-10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 16974.90 16974.90 16974.90 16974.90 16974.90 16974.90 16974.90 16974.90 16974.90 16974.90 16974.90 . Based on this . Having a constant paycheck with a bonus offer that without . During her early journalism career she worked to expose organized crime, hate groups and deadly regulatory oversights in the childcare, aviation and tourism industries. Find out how much home you can afford today. You can find the military pay charts from previous years here: Brittany Crocker served as The Military Wallets managing editor from May 2021 to December 2022. Advertising Notice: Veteran.com and Three Creeks Media, its parent and affiliate companies, may receive compensation through advertising placements on Veteran.com; For any rankings or lists on this site, Veteran.com may receive compensation from the companies being ranked and this compensation may affect how, where and in what order products and companies appear in the rankings and lists. Retired Military Pay Raise 2022. See If Youre Eligible Today. His career has expanded two decades and has three deployments. The basic retirement formula is: Retired Pay Base X Multiplier % Final Pay Plan The retired pay base for a qualified reserve retirement under the Final Pay plan is the monthly basic. Team Rubicon unites the skills and experiences of military veterans with first responders to rapidly deploy emergency response teams. 1190 0 obj
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Title 37, Chapter 19, 1009. The content on Veteran.com is produced by Three Creeks Media, its partners, affiliates and contractors, any opinions or statements on Veteran.com should not be attributed to the Dept. 2024 pay chart. The VA Home Loan is one of the only home loans available today with no down payment required. On October 30, 2020 at 0830EST, the United States Employment Cost Index (ECI) was released. Rvq93sV{$Db The pay tables on this page show military basic pay for all branches as of January 1st 2023. . You can bookmark this page and return to it whenever you want, or I have created three types of calendars: a list, a black and white calendar, and a color calendar. On December 27, 2021, President Biden signed the National Defense Authorization Act for 2022 into law. On June 30th, the House Appropriations Committee approved the fiscal year 2022 Military Construction, Veterans Affairs, and Related Agenciesbill, which includes a 2.7% pay raise for service members. PAY ARCHIVE: 2014-2021; MILITARY RETIREMENT; VETERAN BUSINESSES; GI BILL FACTS; NEW GI BILL (post 9/11) MONTGOMERY GI BILL; DEPENDENTS EDUCATION; JOHN FRY SCHOLARSHIP . Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. This builds on a 2021 pay increase of 3.0%. 5h3QH%"]uP1"}lvQCv:j?`U?]oq}{9xAle^feY^7vuka@[0aO/k_[+L/E&Ur*mr*/?O}\%UzT-WG(O%OB}=L0pO}IoL?P8h N'Q.y PiKx%5XD ~s
This year, Im offering three ways to print these: click on the PDF or Microsoft Word link after the image, or click on the image to make it larger, then right-click to save it to your own computer. Academy cadets and ROTC basic pay: Basic pay rate for academy cadets/midshipmen and ROTC members and applicants is $1,218. The purpose of this years COLA, as with every year, is to fight the increase in inflation and protect the spending power of retired and disabled service members and their families. References to third-party products, rates and offers may change without notice. Level II of the Executive Schedule limits military basic pay for pay grades O-7 to O-10 to $17,675.10 per month. And this years retired military pay raise in 2022 is the biggest raise Veterans have seen in decades, amounting to a 5.9% increase. Combat Zone Tax Exclusion (CZTE)Information: Qualified Hazardous Duty Areas (Posted Mar. endstream
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No tables, rankings or lists are fully comprehensive and do not include all companies or available products. MORE: Check your eligibility for a $0 down VA loan. On December 7, 2021, the House of Representatives passed a compromise version of the National Defense Authorization Act for Fiscal Year 2022 by a vote of 363 to 70. However, each year Congress must pass a bill to implement . The final pay raise is in line with President Joe Bidens budget proposal and the Employment Cost Index (ECI) formula of 2.7%. Then, a half percentage point is taken off that figure, and locality pay is determined to also be paid. Social Security Administration announced the increase. Enlisted Pay Chart (Less than 2 Years to Over 6 Years of Service) Enlisted Pay Chart (8 Years to Over 16 Years of Service) Enlisted Pay Chart (18 Years to Over 28 Years of Service) Enlisted Pay Chart (30 Years of Service) Enlisted Notes: information@HFAlliance.com p: 414.350.6638, MyMilitaryBenefits is not affiliated with the Department of Defense or Department of Veterans Affairs, GI Bill is a registered trademark of the U.S. Department of Veterans Affairs (VA). The bill allows for the 4.6 percent military pay raise proposed by President Biden on March 28th. Below are the 2023 pay charts for enlisted service members in every branch of the U.S. military. 2019), Imminent Danger Pay Areas (Posted Jan. 2021), States/Territories withholding agreements with the Treasury Department(Posted Mar. */
. In total, the bill provides $279.9 billion for programs that cover veterans health care and military construction, among other things. of Veterans Affairs, please visit their website atva.gov. According to statute, military pay raises must be equal to the ECI, although Congress and the president can enact increases that are above the ECI. 2023 Annual Military Retirement Pay Increase. This is to preclude the advantage. Overall, though, if youre like most U.S. Veterans and their families, your military retirement pay raise will be a huge boon to the security of your financial future. Pay limits for O-6: Basic pay for O-6 and below is limited by level V of the executive schedule in effect during calendar year 2022.
. In total, the bill provides $279.9 billion for programs that cover veterans health care and military construction, among other things. of Veterans Affairs, please visit their website atva.gov. According to statute, military pay raises must be equal to the ECI, although Congress and the president can enact increases that are above the ECI. 2023 Annual Military Retirement Pay Increase. This is to preclude the advantage. Overall, though, if youre like most U.S. Veterans and their families, your military retirement pay raise will be a huge boon to the security of your financial future. Pay limits for O-6: Basic pay for O-6 and below is limited by level V of the executive schedule in effect during calendar year 2022.