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True, but fortunately the vast majority of servicemembers leave with their bodies and minds intact. And as others have pointed out, you start collecting immediately. So, if you join at 18, you can retire at 38 and collect a check for the rest of your life. Private section pension plans will generally require you to wait until an older age, say 55 or older. The military has a good retirement plan, make no mistake about it. And they deserve it.
I cannot speak for the other services, but I know that in the Marines, and Particularly in the 03' MOS... that is not the case.
...I had a chance to make $750 a day overseas... that just over $400 a month they give me (Granted, that's not counting the $541 from the VA) goes a Loooong way towards making that up!LOL!
I asked about the widow's benefit because a very dear friend of mind, her husband passed away recently, and he was in the Navy for quite a long time but didn't "retire" from the Navy. She seems to be having some financial difficulties now and I was wondering if maybe she is not getting what he received from the military (he was probably in for like 20 years). I don't want to pry about her finances but when I saw this topic, it kind of made sense that this might be the problem because she said she has had to go back and forth with the military about some issues. He was a Navy pilot, died at age 89 so probably was in WWII and she does get commissary benefits.
If he served 20 years, and paid into SBP she would be entitled to collect.
When my husband retired, we chose the Survivor's Benefit Plan, which has us paying a portion of my husbands retirement into an account (its about $200 a month, if I recall). I believe we have to pay it until he reaches 70 or for 300+ months (I don't have the exact # of months in front of me.) and I'll receive, upon his death, 55% of his base pay for the balance of my life (assuming I don't remarry). I've done the math, and assuming he dies after he reaches 70 (in otherwords assuming we pay the full amount into the account), in order for me to break even on the deal, I have to live for about 3 1/2 years beyond his death to make the money paid in worth it financially to me. After 3 1/2 years, its all free money to me.
I recall when we were going to pre-retirement lectures about the benefits, etc., there was discussion as to whether the Survivor's Benefit was worth it. Its a personal decision obviously, but we chose to go ahead and sign up for it just so I would have peace of mind. But I suppose someone who has discipline and confidence in investment, might do alright taking that money and investing it themselves.
That said, I don't know what was avaiable to the WWII widow at the time of her husband's retirement. I know the retirement programs have changed/been modified over the years.
1. you can not collect both SBP and DIC(VA)
2. the person I was replying to stated that the husband was not a retiree but had commissary priviledges. That indicated that the husband was rated 100% by the VA so she would only be eligible for DIC
Considering the crap pay that the military gets, their pensions are pathetic given their service to our country. And when you factor in VA care, it just gets even worse. Our servicemembers deserve better. They were laying their lives on the line for their term of service, and there are a great many who are disabled due to their sacrifice.
... Considering the crap pay that the military gets, their pensions are pathetic given their service to our country
Military pay has received a lot of attention beginning in the 70s. There have been many pay raises to the military, and congressional studies to make military pay comparable to civilian pay.
A 20-year pension [even though it is 'only' 50%] is still enough to support a family on.
And if a person is healthy they are then able to go on to have a second or even third career.
Also keep in mind that retirees are provided health care at civilian hospitals. Retirees can go into any civilian hospital, where they are seen by any doctor and/or specialist. Retirees really do receive the 'best' health care that our culture can provide.
Quote:
... And when you factor in VA care, it just gets even worse
Now you changed topics. Now your talking about vets.
VA hospitals are there to provide medical care to vets. Vets 'deserve' this.
Any time, every time that the Federal government gets it's hands into running a private industry that industry suffers. But so long as we focus our vets into going to VA hospitals such is going to be the issue. There always has been problems with how the VA operates, and there always will be problems with how the VA operates. It is ran by the Federal government. You can not honestly expect much better.
But again 'retirees' [which is the OP] have full medical care provided to them at EVERY civilian hospital in the nation [with the noted exception of those hospitals that are located within a 50 mile radius of a military base]
Quote:
... Our servicemembers deserve better. They were laying their lives on the line for their term of service, and there are a great many who are disabled due to their sacrifice.
Assuming that we are back on the topic of retirees now. I really think that what we get is pretty good.
As a retiree, I look around and I see many people around me who likewise have accumulations of aches and pains. Back issues, knee, shoulder, etc. Disabilities happen both to military personnel and to civilian.
I am very thankful for what the government does offer to us.
I know that I am very fortunate to have survived a 20 year career on Active Duty.
Military pay has received a lot of attention beginning in the 70s. There have been many pay raises to the military, and congressional studies to make military pay comparable to civilian pay.
A 20-year pension [even though it is 'only' 50%] is still enough to support a family on.
And if a person is healthy they are then able to go on to have a second or even third career.
Also keep in mind that retirees are provided health care at civilian hospitals. Retirees can go into any civilian hospital, where they are seen by any doctor and/or specialist. Retirees really do receive the 'best' health care that our culture can provide.
Now you changed topics. Now your talking about vets.
VA hospitals are there to provide medical care to vets. Vets 'deserve' this.
Any time, every time that the Federal government gets it's hands into running a private industry that industry suffers. But so long as we focus our vets into going to VA hospitals such is going to be the issue. There always has been problems with how the VA operates, and there always will be problems with how the VA operates. It is ran by the Federal government. You can not honestly expect much better.
But again 'retirees' [which is the OP] have full medical care provided to them at EVERY civilian hospital in the nation [with the noted exception of those hospitals that are located within a 50 mile radius of a military base]
Assuming that we are back on the topic of retirees now. I really think that what we get is pretty good.
As a retiree, I look around and I see many people around me who likewise have accumulations of aches and pains. Back issues, knee, shoulder, etc. Disabilities happen both to military personnel and to civilian.
I am very thankful for what the government does offer to us.
I know that I am very fortunate to have survived a 20 year career on Active Duty.
I can not honestly say that I 'deserve' more.
If you become disabled while in the military you are pensioned at a percentage of that 50% and you can't collect it and the disability you get from the VA. Mine came to under $800 a month of which I am required to pay $50 for SBP. Since I can not collect both and the VA is more my years in the military get me ZERO minus the $50 a month I am required to pay towards SBP my wife can't collect. So my best advice is don't get disabled before you complete 20
Military pay has received a lot of attention beginning in the 70s. There have been many pay raises to the military, and congressional studies to make military pay comparable to civilian pay.
A 20-year pension [even though it is 'only' 50%] is still enough to support a family on.
Military do not get 50% of their total pay for retirement, they get 50% of their base pay which is only around 50% of their total pay. So take their monthly pay, cut it in half, then take 50% of that equals about 25% of their take home pay.
I was making just over $4000 a month active duty and then received $1100 a month for retirement.
Hardly enough to support myself let alone a family...
Military do not get 50% of their total pay for retirement, they get 50% of their base pay which is only around 50% of their total pay. So take their monthly pay, cut it in half, then take 50% of that equals about 25% of their take home pay.
I was making just over $4000 a month active duty and then received $1100 a month for retirement.
Hardly enough to support myself let alone a family...
I agree that $1100 a month is not enough to support yourself. But without going into the debate about what military pensions "should" be, I would point out that after a 20-year career, you would have been roughly between the ages of 38 and 42 upon your retirement. That is young enough to engage in a second career.
Starting a second-career at 40 yrs of age sounds like an easy thing to do in today's economy. Where do I sign up? I wonder what the job market is for an Infantryman w/ PTSD and a closed-head injury whose occupation was firing weapons and clearing out homes nowadays.
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