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Thread: Question for retirees and the future of military retirement

  1. #1
    Short Timer CWO Sharkey's Avatar
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    Default Question for retirees and the future of military retirement

    Can you please provide any kind of wisdom of the retirement process? Especially when it comes to the SBP and if anybody went over 20 years with some reserve time. I would like to know how the pay was calculated.

    Thank you.
    Iraq/Afghanistan Veteran (OIF V & OEF X & XIII)
    101st Airborne Division & 4th Infantry Division combat vet
    Serving overseas

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    Moderator MSG Glenn's Avatar
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    All I can remember about the pay calculation was that 20 years was half your base pay & 30 years was 75%. My 27 years came to about 68%-70%. Maybe a tad more. I was officially in the drilling Navy Reserve between my junior & senior years of HS, split option, & I that was figured into my total retirement pay. Probably on the drill points method. As an E-8 Reservist each retirement point is worth about $.25 per point per month for the rest of his life. Something like that, anyhow.

    Reservists retire with 1 retirement point per drill or active duty day. A drill is one 4 hour block so a weekend drill gets you 4 points. You need a minimum of 20 years of active duty to start drawing all of your pay, active duty & reserve right away whereas a Reservist can put 20+ years of Reserve time in & retire but doesn't start drawing his pay until age 60. Until a retired Reservist reaches age 60 or reaches his 30 year mark he's in the Retired Reserve & subject to a call to active duty. During Desert Shield/Desert Storm this had happened to several in the unit where I served as an Active army Advisor to the Reserve.

    In your case they'll take your active duty time, 20 years or more, & add any Reserve time as I understand it. Somewhere you can find out how much a Reserve CWO2 gets paid on his retirement per retirement point. Then figure out how may retrirement points you accrued as a Reservist & add that to your active duty retirement pay.

    Are you starting to think along those lines, Chief Q?
    Last edited by MSG Glenn; 05-29-2010 at 02:10 PM.
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    Short Timer CWO Sharkey's Avatar
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    When I retire with 20 active duty years, I will have 29 years of service. Now since I am high 3 will the last 3 years of my current base pay count or will they factor in the base pay at the 20 year mark? For example, I retire as a CW3 or 4 and lets say my base pay of CW4 at 28 years of service is 7000 a month. Will it be the average of the last 3 years of 7K a month then divided by 2 or the CW4 pay at the 20 year scale which might be $5900 a month. Do you get my meaning?
    Iraq/Afghanistan Veteran (OIF V & OEF X & XIII)
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    Moderator MSG Glenn's Avatar
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    I get your meaning, Chief but frankly I don't know. Try bouncing that off the head of a finance spec in your unit. Ask 2 of them & get 2 different answers. There has to be a chart about that somewhere.
    Proud Dad of a US Army Airborne Ranger SFC
    Retired US Army 1SG/MSG, Airborne Infantry, G-3, Instructor
    Former USN - Submarines, USS Chopper (SS 342) & Navy Diver, UDT 21
    I was a Soldier. I am a Soldier. I will always be a Soldier.

  • #5
    Senior Member ArmyGirl4ever's Avatar
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    Hey Chief Q, try using the calculator at http://myarmybenefits.us.army.mil/
    ArmyGirl4Ever
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    Moderator MSG Glenn's Avatar
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    I knew there was SOMETHING! I think I might even have used it a few years ago to verify that I was getting paid what I was supposed to be paid.
    Proud Dad of a US Army Airborne Ranger SFC
    Retired US Army 1SG/MSG, Airborne Infantry, G-3, Instructor
    Former USN - Submarines, USS Chopper (SS 342) & Navy Diver, UDT 21
    I was a Soldier. I am a Soldier. I will always be a Soldier.

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    Senior Member Nightflyer's Avatar
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    Dang, $5900.00 a month. man, I got along ways to go. lol..
    Congratulations Night, Welcome to the team and back into the game, different department, agency, the same game. You'll roll over your days and be golden. Welcome back to the continental breakfast highway, lol. - Del The S**t.

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    Short Timer CWO Sharkey's Avatar
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    Thanks Armygirl. Gunbunny recently retired so he could probably shed some light on the topic. Night even with BAH and BAS; I can still use some more for the time being lol. But its good to know that my debt is low and I have my 401k, TSP and SSN (whatever the monthly will be reduced to) to supplement my retirement. By 60, I want to be free from working (might do some light work, e.g armed security or movie theater usher lol) because I just want to continue on traveling. Here are some pics from my leave.









    Simply beautiful in Spain and Portugal
    Iraq/Afghanistan Veteran (OIF V & OEF X & XIII)
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    Short Timer CWO Sharkey's Avatar
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    Armygirl, I like that website because it imports your information from DEERS. I have alot what-its but again thanks for the link.
    Iraq/Afghanistan Veteran (OIF V & OEF X & XIII)
    101st Airborne Division & 4th Infantry Division combat vet
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  • #10
    Short Timer CWO Sharkey's Avatar
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    I got some more info about retirement and have a good idea of what my pension would look like. Is the retirement check paid once or month or you can opt for twice?
    Iraq/Afghanistan Veteran (OIF V & OEF X & XIII)
    101st Airborne Division & 4th Infantry Division combat vet
    Serving overseas

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