2022 retired military pay chart

endstream endobj startxref If you click on an advertisement or link, I may be compensated. The pay charts above do not include allowances likeBAH (basic allowance for housing),BAS (basic allowance for subsistence)or other incentives. New pay rates are effective Jan. 1, 2023, and will first appearon Jan. 14, 2023, paychecks. This blog is strictly for informational and entertainment purposes only. No tables, rankings or lists are fully comprehensive and do not include all companies or available products. 37 U.S.C. He is a veteran of Operation Iraqi Freedom, who spent his last few years in the Army as a Drill Sergeant. This mornings release is important to our military because it is the first indicator used to determine the actual pay raise amount for 2022. Here are the 2022 military pay charts, according to the 2022 National Defense Authorization Act. Military basic pay is the compensation a service member can expect without allowances, benefits, reenlistment bonuses, proficiency pay or other special pay. 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. The increase is in-line with U.S.C. This retirement plan offers a pension after 20 years of service that equals 2.5% of your average basic pay for your three highest-paid years or 36 months, for each . of Defense or any governmental entity. The new pay scale takes effect on January 1, 2022. All information is completely confidential.By clicking Get Discounts you agree to our Privacy Policy. 2024 pay chart. 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. NOTE 1. For more information, please see our Advertising Policy. All information is completely confidential. Military Pay Charts 2022 [updated] - MyMilitaryBenefits This post may contain affiliate links, from which I may earn revenue to support this free site. Editorial Disclosure: Editorial content on The Military Wallet may include opinions. Please share with your friends! Military Pay and Pensions | USAGov Operation Supply Drop is a 501(c)(3) military charity supporting active-duty and veteran troops of the United States Military and Her Allies since 2010 by bringing fun where there is none. 2022 Military Pay Charts - Veteran.com - Military Benefits Across the board, retired and disabled Veterans will be getting a 5.9% retired military pay raise. Military basic pay for O-7 through O-10 is limited by the Level II of the Executive Schedule (EX). Information from your device can be used to personalize your ad experience. 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. of Defense or any governmental entity. The pay increases went into effect on Jan. 1, 2022, and service members received their first increased paychecks on Jan. 14, 2022. Military Pay Chart 2023 USA Retired COLA Increased by 8.7% The Social Security Administration announced the increase in October of 2021, to take effect on January 1, 2022. Departments of Defense or Veterans Affairs. (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. monthly basic pay effective 1 january 2022 This Single Close Loan gets you from construction to occupancy with one mortgage in a streamlined process. 2022 Military Pay: Warrant Officer Pay Rates W-1 through W-5 Editorial Disclosure: Editorial content on Veteran.com may include opinions. To amend title 10, United States Code, to permit certain retired members of the uniformed services who have a service-connected disability to receive both disability compensation from the Department of Veterans Affairs for their disability and either retired pay by reason of their years of military service or Combat-Related Special Compensation, Survivors of retired military personnel will also see the Survivors Benefit Plan increase 5.9%. Driven by inflationary pressures, the Department of Defense on Friday announced a 5.9% increase cost-of-living pay increase for most military retirees . 2023 Annual Military Retirement Pay Increase. 9/22/2021 City of Milwaukee Department of Employee Relations COMPUTATION METHOD OF "CITY SHARE" CHART . 2021 Military Pay Grade Chart for Active Duty Officer (less than 2 to over 40 years) 2021 Pay Scale For Retired Military - A military member that serves on basic task as well as active service is entitled to get an allowance, services, as well as benefits as organized by regulation. I may receive compensation through affiliate or advertising relationships from products mentioned on this site. All Rights Reserved.Site development by Olive & Ivy Design. Any opinions are those of the author alone, and not those of an advertiser to the site nor of Veteran.com. 2023 Veterans Disability Compensation Rates - VA.gov Home | Veterans 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. Accredited Financial Counselor, Navy spouse, and mom of four. Here at the blog, I talk about the financial issues that affect military families - pay, allowances, and benefits. Retirement - U.S. Department of Defense This builds on a 2021 pay increase of 3.0%. The full House passed the same with a vote of 355-78 on Tuesday of this week. The compound is in line with the proposal developed by the House of Representatives and also The President. COLA raises for Social Security benefits and certain other benefits are automatic. The new pay scale takes effect on January 1, 2022. Military Retirement Pay, - VA.org 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). 2019), Duration of Authority(Posted Jan. 2023), Department of DefenseDepartment of Veterans AffairsMilitary Employment VerificationWarrior Care WebsiteDefense Contract Mgmt Agency DoD Forms This builds on a 2021 pay increase of 3.0%. Title 37, Chapter 19, 1009. 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. hj0_E/t-Kpf4PAKDbp`%{$5KJtw:~ aq,HcDa/ i5H*%z .$# (&]UtA >+MxY2%)lnI3:oHFzYU: =.^!c "_e0(s}ip.p1R{[MTT21 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 How It Works With Your Military Insurance, Does CVS take TRICARE? Military Medical Retirement Pay Chart 2021 The Senate is expected to complete their version of the bill in the coming weeks. He is now a full-time dad, freelance writer, and out-of-work comedian. Comment * document.getElementById("comment").setAttribute( "id", "a9f5f6854940409c82c8c64da0c3dde6" );document.getElementById("e335739449").setAttribute( "id", "comment" ); document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); These responses are not provided or commissioned by the bank advertiser. Veteran.com is a property of Three Creeks Media. The new pay scale takes effect on January 1, 2022. . endstream endobj 1169 0 obj <>/Metadata 35 0 R/Outlines 57 0 R/Pages 1166 0 R/StructTreeRoot 67 0 R/Type/Catalog>> endobj 1170 0 obj <>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 1171 0 obj <>stream This builds on a 2021 pay increase of 3.0%. Military members received a 2.7% pay increase in 2022, according to the National Defense Authorization Act. It also established a $15 minimum wage for covered service and construction contracts. S.1147 - Retired Pay Restoration Act 117th Congress (2021-2022) 1-888-332-7411 The pay increases went go into effect on Jan. 1, 2022 and service members received their first increased paychecks on Jan. 14, 2022. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. Here are the pay charts for enlisted members. Retirement Cost of Living Adjustments - U.S. Department of Defense For most service members, basic pay is the largest component of monthly compensation. The chart is made up based on 2 main variables: their rank and also their solution years, which related to their pay grade general. 2022 Pay Scale Officers, Prior Enlisted Officers, and Warrant Officers, 2022 Military Pay Chart: Officers and Warrant Officers with up to 10 Years of Service, 2022 Military Pay Chart: Officers and Warrant Officers with 12 to 26 Years of Service, 2022 Military Pay Chart: Officers and Warrant Officers with 28 to 40 Years of Service, Prior Enlisted Officer Pay Qualifications, 2022 Pay Scale: Enlisted Military Members, 2022 Military Pay Chart: Enlisted Members with up to 10 Years of Service, 2022 Military Pay Chart: Enlisted Members with 12 to 26 Years of Service, 2022 Military Pay Chart: Enlisted Members with 28 to 40 Years of Service, 2021 Drill Pay Charts National Guard & Reserve Pay, 2020 Drill Pay Charts (3.1% Raise) National Guard & Reserve Pay. It suggests military pay increases as much as 3.0 percent. Leave a CommentFiled Under: Pay, Retirement, Your email address will not be published. 8p0!e AB& #? iHSPqac@qUQl@,e`ztuI,4\TT@ Ph If a ranking or list has a company noted to be a partner the indicated company is a corporate affiliate of The Military Wallet. Find out how you can build a home on land you already own. She is a veteran with over 11 years of military service and equal experience in the civilian journalism industry. Most enlisted members enter the military at the lowest pay grade (E-1) and climb the pay scale to higher positions with greater pay. 203-205, 1, #mc_embed_signup{background:#fff; clear:left; font:14px Helvetica,Arial,sans-serif; }
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We recommend moving this block and the preceding CSS link to the HEAD of your HTML file. Now check your email to confirm your subscription. For the past five years, lawmakers have used the ECI formula for wages and salaries to help determine final military pay increases. 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. Across the board, retired and disabled Veterans will be getting a 5.9% retired . 10 Veterans Benefits You May Not Know About, Medal of Honor: Benefits, History and Facts, Veterans Employment and Training Service (VETS), Security Clearance Jobs After the Military, Unemployment Compensation for Ex-servicemembers (UCX), Military Spouse Career Advancement (MyCAA) Scholarship Program, Monthly Housing Allowance (MHA) for the GI Bill, 2023 Retired Military and Annuitant Pay Dates, 2023 Reserve and National Guard Drill Pay, For noncommissioned officers serving as Sergeant Major of the Army, Master Chief Petty Officer of the Navy or Coast Guard, Chief Master Sergeant of the Air Force, Sergeant Major of the Marine Corps, Senior Enlisted Advisor of the Space Force, Senior Enlisted Advisor to the Chairman of the Joint Chiefs of Staff, or Senior Enlisted Advisor to the Chief of the National Guard Bureau, basic pay for this grade is. hb``b`` [(fvZt2g(QB2P E~{wJz\_AB!8wsA! If you have questions about Veteran programs offered through or by the Dept. The ECI is based on the data for 12 months through each September. The content on this site should not be considered professional financial or legal advice. Also, be sure to know your military pay dates. 2021 Military Pay Chart 3.0% (All Pay Grades) - navycs.com Defined Benefit is. 10 of the Best Things To Do in Kingsville, TX, Near the Air Station, NAS Kingsville School Options: Day Care High School, San Diego Things To Do Near MCRD San Diego, Walter Reed Medical Center: In-Depth Welcome, RIP to Marine Scout Sniper Platoons, the Marine Sniper Role is Changing, The Marines are ditching Scout Sniper Platoons as the branch continues to transform. Military Retirement Pay Level V of the Executive Schedule limits military basic pay for pay grades O-6 and below to $14,341.80 per month. . Allowances are the second largest component and there can be other monetary compensation such as special and incentive payments. 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: How Big Is the Retired Military Pay Raise in 2022? - MyBaseGuide 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.) However, this can also serve as a guideline and the White House or Congress can propose another figure. According to the DoD, most military retirees will receive a 5.9% increase to their retired pay beginning on January 1, 2022. You can find additional information on these topics at the. 2021Military Active & Reserve Component Pay Tables(PDF - Posted Jan, 2021), Basic Allowance for Subsistence (BAS) (Posted Dec. 2022), FICA Percentages, Maximum Taxable Wages, and Maximum Tax(Posted Dec. 2021), Foreign Language Proficiency Bonus(Posted Jul. 2022 Military Disability Pay Chart - The Insider's Guide The full VA disability rates for 2022 can be found here. Comment * document.getElementById("comment").setAttribute( "id", "a51dcf65a4c079b6a4155b1d20dd6999" );document.getElementById("ef5eefa35b").setAttribute( "id", "comment" ); Notify me of follow-up comments by email. Find the current 2023 military pay rates here. All members of the U.S. Armed Forces receive basic pay, although the amount varies by pay grade and years of service. See Department of Defense Financial Management Regulations (DoDFMR) for a more-detailed explanation on who is eligible for this special basic pay rate. Title 37, Chapter 19, 1009. It's the largest military pay raise in 20 years, but it might not be enough to keep up with inflation, which was 7.1% in November, according to the Bureau of Labor Statistics. e RT, b\P8%a3fHi~p]B5&.0 Next up, the Senate. Crocker received both her bachelors and masters degrees from the University of Missouri School of Journalism and was a 2016-2017 White House Press Correspondents Association scholar. 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. Justin Fisher is a currently serving with the Arkansas Army National Guard. On July 14, 2022, the House of Representatives passed their version of the National Defense Authorization Act for Fiscal Year 2023 by a vote of 329 to 101. U.S. Marine Corps Photo by Sgt. Not only is a pay raise coming for military retirees, but its also the biggest increase in pay since 1982. Retired Military paydays are once a month. The bill was signed by President Biden in late December 2022, allowing increases to go into effect on Jan. 1, 2023. Attention Veterans! Here's Your 2023 Military Retiree Pay Raise All reviews on this site represent the personal opinions of the author. The first COLA adjustment after retirement is calculated under a formula different than that above, if the member retires between January 1st and September 31st. Retirees who entered military service on or after Aug. 1, 1986, and opted for the Career Status Bonus (CSB/Redux retirement plan) have any COLA increases reduced by 1%, so they will see a smaller increase in 2022. However, each year Congress must pass a bill to implement . Retired military personnel of 66 or 67 year, will get Social Security benefits of $2,972, which is currently only $2,734. My goal is to give you the tools to make the best decisions right now, so you'll be confidently prepared for whatever comes next - whether that's a PCS move, transition to civilian life, or retirement. 2023 Military Retirement Pay COLA - 8.7% Increase - The Military Wallet 0.00: 0.00 0.00: 0.00 0.00: 0.00 0.00: 0.00 0.00: 0.00 16974.90: 16974.90 16974.90: 16974.90 16974.90: 16974.90 16974.90: 16974.90 16974.90: 16974.90 16974.90 Rvq93sV{$Db It isnt as simple as the President or Congress just picking a number. There was an error submitting your subscription. Having a constant paycheck with a bonus offer that without . Under federal law, the ECI number is used in setting the proposed pay changes for the military. According to law defined in U.S.C. Here are the 2021 drill pay charts, if you'd like to see how much your pay has increased by dollar amount. But it is still higher than all other pay raises since 2011, which only gave a 1.4% raise. Suggested read: How the Military Pay Raise 2022 Affects Your Salary. 2022 Military Pay Chart. Military Retirees, Disabled Veterans to See Largest Pay Raise in I don't like spam, and I won't send it to you., either. hbbd```b`` "HF~H#dq /=LK }6l:"$c"h#F, ) Hn1FHy):$H "QC@Ehy|fw-bd3x\?t{Lzh))+pcGzezpyq?tp;M7Unx5^ew];7O\i|MXMY9gA)Ja1|`_n*51g88#e$/'x3QG+Qq' W3 It is not the bank advertisers responsibility to ensure all posts and/or questions are answered. The Semper Fi Fund provides immediate financial assistance and lifetime support to post 9/11 wounded, critically ill and injured service members and their families. Its important to note that many banks and credit unions offer early crediting of military retirement pay as a benefit to their customers (and to entice folks to bank with them!) The basic pay is rated on month-to-month basis as well as subjected to tax obligations just like private's taxable income. Having a constant income with a reward that without tax . On October 30, 2020 at 0830EST, the United States Employment Cost Index (ECI) was released. 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 . PDF 2022 MONTHLY RATE CHART FOR RETIREES & SURVIVING SPOUSES - Milwaukee of Veterans Affairs, please visit their website atva.gov. endstream endobj 1436 0 obj <>stream What the Social Security COLA Increase Means for Veterans - AARP %PDF-1.6 % 2021 Pay Scale For Retired Military - Military Pay Chart 2021 His career has expanded two decades and has three deployments. In terms of VA disability rates, 2022 will shell out an extra $8.50 each month based on an individuals total disability rating. Veteran.com is a property of Three Creeks Media. Enter your email for updates and we'll send them straight to your inbox! The ECI (US Employment Cost Index) determines the pay raise each year. 2!.QXte=tF>U>G-u]LVMBQ>!IP Retired Military paydays are once a month. 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. The 2.7 percent pay raise is effective January 1, 2022. 2024 Military Pay Chart 5.2% (All Pay Grades) - navycs.com 0 This increase is a notable departure from the average of the last decade of 1.9% and even more than the 5. . Military retirees to receive largest cost of living pay increase in 4 hb```^+ , this is something that Veterans, their families, and survivors can get excited about. How Much Will Retired Military Pay Increase in 2022? Military members received a 2.7% pay increase in 2022, according to the National Defense Authorization Act. The bill allows for the 4.6 percent military pay raise proposed by President Biden on March 28th. Military retirement pay is paid in arrears, meaning that the payment on the 1st of the month is for . The 2022 military pay charts reflect a 2.7% increase in military basic pay. 2022 Military Pay Chart 2.7% (All Pay Grades) - navycs.com 1455 0 obj <>stream of Veterans Affairs, please visit their website atva.gov. Enlisted pay grades range from E-1 through E-9 ("E" represents Enlisted). 203(a)) for members of the uniformed services, as adjusted under 37 U.S.C. Then look for your disability rating in the top row. On September 23, 2021, the House of Representatives passed their version of the National Defense Authorization Act for Fiscal Year 2022 by a vote of 316 to 113. E pay scale is Enlisted, W scale is Warrant Officer, O scale is Commissioned Officer. Let me help you keep up-to-date on your military pay and benefits! What Is the 2022 COLA for Military Retirees? Three Creeks Media, LLC 2023. 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. Success! PDF MONTHLY BASIC PAY EFFECTIVE 1 JANUARY 2022 - U.S. Department of Defense 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. On average, annual COLA increases have been just 1.5% for the entirety of the last decade. Neither Veteran.com nor Three Creeks Media are associated with or endorsed by the U.S. Here are the 2021 military pay charts to see how they compare to 2022 pay. Departments of Defense or Veterans Affairs. 2022 Military Active & Reserve Component Pay Tables (PDF - Posted Dec. 2021) 2021 Military Active & Reserve Component Pay Tables (PDF - Posted Jan, 2021) Basic Pay Rates: Commissioned Officers (Posted Jan. 2023) Commissioned Officers Credited With Over 4 Years of Active Duty Enlisted and/or Warrant Officer Service (Posted Jan. 2023) Basic pay is taxable, unlike allowances. Military paydays are on the first and 15th of the month unless it is a holiday or weekend. 2023 Retired Military Paydays - With Printables KateHorrell FederalPay maintains updated pay charts for most types of military compensation. %%EOF The modifications to the original House bill, which was passed on September 23rd, did not change the military's projected pay raise for 2022 of 2.7 percent. This is the equivalent of $1,032/week or $4,475/month. */
. The 2023 military retiree pay raise will provide an increase of 8.7% for disabled Veterans and military retirees. FREE Weekly Updates! The senate of the United States has passed its 2021 National Defense Authorization Act proposition on, July 23, 2020. I hope that you find these calendars useful. The highest possible payment from SSIA in 2022 is $346. 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. Military retirees to get biggest pay increase in nearly 40 years More like this: 3 of the Best Credit Cards for Military & Veterans in 2022. I only promote companies that I love and trust. Certain military members will not see the total retired military pay raise in 2022 due to a variety of circumstances. 2022 Military Active & Reserve Component Pay Tables (PDF - Posted Dec. 2021) Subscribe now for my newsy emails, which come about once every two weeks. The pay tables on this page show military basic pay for all branches as of January 1st 2023. . Youll have to scroll down to find the version that you want. The senate of the USA has passed its 2021 National Defense Authorization Act proposal on, July 23, 2020. 2023 Military Pay Charts - Military Benefits 1168 0 obj <> endobj Neither Veteran.com nor Three Creeks Media are associated with or endorsed by the U.S. Retired and disabled vets could see rise in monthly paychecks in 2022 Developed by NCCM Thomas Goering USN (RET). E pay scale is Enlisted, W scale is Warrant Officer, O scale is Commissioned Officer. On May 28, 2021, President Biden released his budget proposal for Fiscal Year 2022. With all the news about. How to use the High-3 military retirement calculator. Your email address will not be published. Alicia Leaders, 10 Veterans Benefits You May Not Know About, Medal of Honor: Benefits, History and Facts, Veterans Employment and Training Service (VETS), Security Clearance Jobs After the Military, Unemployment Compensation for Ex-servicemembers (UCX), Military Spouse Career Advancement (MyCAA) Scholarship Program, Monthly Housing Allowance (MHA) for the GI Bill, Check your eligibility for a $0 down VA loan, Military Homebuyers Can Buy With $0 Down. Retired Military Retirement Pay Tables 2021 March 19, 2022 by Military Pay Chary Fundamental 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 This builds on a 2021 pay increase of 3.0%. He holds a Bachelors in Arts in Communications and hosts a weekly podcast featuring candid interviews with members of the military. 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. Retired Military Pay Raise 2022. The new pay rate went into effect on Jan. 1, 2022. Just in case you need a simple salary calculator, that works out to be approximately $25.82 an hour. Military retirement pay is paid in arrears, meaning that the payment on the 1st of the month is for the previous months retirement pay. 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. VA disability rates for 2022 can be found here, How the Military Pay Raise 2022 Affects Your Salary, 3 of the Best Credit Cards for Military & Veterans in 2022. 2022 Guard & Reserve Pay Chart - navycs.com 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. Military pay derives from the Employment Cost Index (ECI) formula and thedraft 2023 defense budget. of Veterans Affairs , the Dept. 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.

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