https://www.dfas.mil/militarymembers/payentitlements/military-pay-charts.html, Here’s the numbers I’m using: 2018 O-6>32: $11,599.80 2017 O-6>30 and O-6>32: $11,328.00 for both 2016 O-6>30 : $11,094.90 December 2015 O-6>30: $10,952.40, The November 2018 High Three average is: [(11 x $11,599.80) + (12 x $11,328.00) + (12 x $11,094.90) + $10,952.40] / 36 = $11,322.91, 4833 points / 360 x 2.5% x $11,322.91 = $3800/month.
You could drill in the National Guard or Reserves for up to 40 years (depending on making rank) and could even get an age waiver as old as 62 years. However your military service can count toward earning a higher civil-service pension (when you meet the requirements of the civil-service pension). The actual numbers depend on the pay tables in effect when you’re ages 57-60 to determine the average of those 36 highest months, but using the 2018 pay tables puts the calculation in today’s dollars. I happen to know that the pay tables top out for O-6 at 30 years (it’s the same pay for O-6>32) so it’s a little easier to look up the numbers.
To further confuse the issue, your friend could have had their orders citing the wrong federal law codes. However, prior to my 8 years of service in the National Guard I had attained the rank of 0 – 3 while serving on active duty in the Navy, electing to resign my commission, receiving an Honorable Discharge after holding that rank for @ 2 years.
As of 16 August, this post has been updated using the 2016 pay scale. How accurate are your formulas? That describes the non-regular retirement formula (including a bunch of footnotes) for your rank and years of service. First, you’d want to make sure that you’re indeed eligible for Final Pay (a Date of Initial Entry on Military Service on or before 8 September 1980).
If you’re not near a military site then contact your service’s Reserve/Guard personnel command directly and ask them to update your file. Please check the requirements at this link: https://the-military-guide.com/reserve-military-retirement-for-active-duty-veterans-with-previous-reserve-or-national-guard-service/ and make sure you have your Reserve Notice of Eligibility letter (confirming 20 good years) as well as an accurate Reserve point count. The drill weekend for an O-5>22 in 2018 is $1237.36 and one drill is $309.34. If you want help verifying your numbers then feel free to comment here, use the “Contact me” form, or e-mail NordsNords at Gmail. I was honorably discharged medically and currently have 20% disability status. Is there any truth to this? Therefore, the 2018 E-7 monthly pay for over 34 years/26 years is $5,291.40, and $5,291.40 * .281 = $1,486.74 That is pretty good for doing what I love..serving my country. Then, if a Soldier also gets 90 days credit next fiscal year, he or she would be able to retire at age 59.5, or 180 days before age 60.
They’d lose a month or three of pension deposits and they’d eventually make it up on a higher base pay number in their pension calculation. All of my time was active, with over ten years as a commissioned officer. f. NAVPERS 1070/613 (Administrative Remarks) prepared by the ROTC unit, which states that the member is being discharged to accept a commission. The content on this website is for informational and entertainment purposes only and should not be considered professional financial advice.
I then joined the Reserves after a two year break. The Navy Reserve may not have tracked your active-duty Army time, and you may need to update their records to obtain your NOE. Confirm your point count (and for those who are at 20 good years, make sure you’ll get your Notice of Eligibility) and then take a six-month Authorized Absence from drill weekends before retiring. No one anywhere can tell me how or who can help me calculate my retirement points into time so that I can buy back this time towards my federal retirement. If you’re not willing to accept the risk of a full mobilization, then the only way to completely avoid it is to resign. However High Three averages the final 36 months of pay tables before you start your pension.
There is no mention of 10 US Code 1370 in this regulation. I recommend that you start with this post: https://the-military-guide.com/military-retirement-and-divorce/ and follow up on all of the links. This is a good general overview. So1826* .426 = $777 a month (estimated- before tax, SBP, RCSPB, etc).
In addition, if you started at the service academy or signed a ROTC scholarship agreement before 31 December 2017, then when you commission you can opt into the Blended Retirement System. You’ll be retiring through the Army’s HRC, and they may not be familiar with your USAF service. Your TERA pension may start at a smaller number but it will have an eight-year head start on your Reserve pension. Jim, your civil service time will not count toward a military pension.
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