MIL How does retirement work for the reservist?

Discussion in 'On Topic' started by Kroze, Apr 11, 2006.

  1. Kroze

    Kroze Active Member

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    What?
    does anyone know?
     
  2. MumblingJoe169

    MumblingJoe169 New Member

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    its at 60
    i know they are pushing back active duty guys entering now to get paid at 60 too
    dont know if its in effect yet
    seriously sucks though
     
  3. Accord

    Accord New Member

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    :wtf:
     
  4. Kroze

    Kroze Active Member

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    What?
    what about the pay? do you get like 50%, 75%, 100% of your average monthly drill???

    that's pretty shitting if that's the case. say u retired as a msgt. and making $700 an average 5 driller...50% of that for 20 yrs of service is shit considered inflation.
     
  5. MumblingJoe169

    MumblingJoe169 New Member

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    lemme get my reserve handbook
     
  6. kidhero

    kidhero not really a hero, really just a big fat phony

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    within 20 years you accumulate points for every set year of drills you attend.
     
  7. MumblingJoe169

    MumblingJoe169 New Member

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    ok well according to my reserve almanac, at your 15th year of service, you get to choose which system you want. The High Three System or REDUX.
    With the High 3 system, you get 50% of the average of your 3 highest years of pay, with a 2.5% increase for every year maxing at 75% at 30 years. You also get full COLA(cost of living adjustment)annually as determined by the increase in the Consumer Price Index. Someone who can explain all that to me gets a cookie.

    With REDUX, you receive a $30k career retention bonus. Retirement is computed at 40% of the high 3 years of basic pay for 20 years, with an additional 3.5% increase maxing at 75% for 30 years.REDUX retiree's receive COLA as determined by the increase in the Consumer Price Index minus one percentage point.

    Also, two recomputations of retirement pay are made under Redux at age 62. The first adjusts the multiplier to what it would have been under the high 3 system. So a 40% retiree would jump to lets say 50%. The second adjustment is done with the readjusted multiplier. Pay is increased to what it would be with full COLAs in each year of retirement. However in later years COLA reverts back to minus one percentage point.

    I hope that helped to whoever can make sense of it
     
  8. Accord

    Accord New Member

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    I believe time in DEP counts as TIS for retirement purposes, IRR obligation, etc.... or something :hsughno:.
     
  9. Kroze

    Kroze Active Member

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    What?
    so say...1st year i make - $7k, 2nd - $8k, 3rd - $8k. $23/3 = $7.6k.

    1/2 of $7.6k = $3.8k

    is that $3.8k for the year or monthly? :/


    cause retiring with a monthly $319 a month is pathetic.
     
  10. MumblingJoe169

    MumblingJoe169 New Member

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    probably for the year, but i know it also goes off a point system. I have about 1000 points right now, and i havent hit year 6 yet. The max is 9000. so who knows


    according to the us army human resources command reserve retirement pay calculator, if i stay in over 26 years and max my points at 9000, i would make 5, 526 a month and 12,274 a year. Retiring an E7 would make about half as much.
     

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