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I have a feet injury (With orthodics and Narcodics I can stand up 3-3.5 hours)
+ a neck injury.
It's worth just over $400
-That's about my monthly medical bills using tricare...
(ETA: That's not counting the VA, but believe it, it isn't much)
And to add insult to injury I have to pay the Army SBP (Survivor Benefit Plan) every month even though my wife won't be able to collect it. I'd have been better off without the retirement just going to the VA
$18K for life with a Cola after only six years!!
I think this is an OUTRAGEOUS number for six years in Congress.
Military is worth that and more. Congress - never.
Adriadne22...just stating the facts. If it were up to me, I'd change it. Considering the debt the country is facing...I would not be surprised if the retirement system goes through big changes in the coming years.
Adriadne22...just stating the facts. If it were up to me, I'd change it. Considering the debt the country is facing...I would not be surprised if the retirement system goes through big changes in the coming years.
Great, my Army Retirement is ($50.00-) per month, in other words I pay them $50.00 a month. What else can they do
No one has been able to explain to me why young men and women who serve in the U.S. Military for 20 years, risking their lives protecting freedom, only get 50% of their pay at retirement. While Politicians, who hold their political positions in the safe confines of the capital, protected by these same men and women, receive full pay retirement after serving ONE term. It just does not make any sense.
Monday they learned that the staffers of Congress family members are exempt from having to pay back student loans.
Fifty % is good. People are pretty much kicked out when the military is cleaning house. Not everyone who makes cuts gets to retire with that 50%. Sometimes it has been 33% or as little as 25%. I know a couple of people who (it happened to many) offered a check to leave or get nothing.
The fifty percent is half of base pay. If a soldier was paid extra for being the base safety officer, received hazardous duty pay, any number of things, it just doesn't figure into the the equation.
Is that 50% pay benefit automatically transferred to one's widow after death?
No, if you want (I think a PART of your retirement, but don't quote me) to go to her after your death, you have to let them take $ out of your paycheck every month for 20, 30 years... (Some high number)
I noted it on my (Whatever the retired version of) My LES, and asked my boss (Retired Army) he isn't having it done, due to the smallness of his check, so that is why he's working the 2nd career, to give his wife something when he passes on, since his $ will stop upon his death (I think she still gets the tricare and other bennies though)
Adriadne22...just stating the facts. If it were up to me, I'd change it. Considering the debt the country is facing...I would not be surprised if the retirement system goes through big changes in the coming years.
Congress critters have their own 'social insecurity' etc...
Great, my Army Retirement is ($50.00-) per month, in other words I pay them $50.00 a month. What else can they do
Maybe I should have specified what I would change. Even when I was working for the federal government, I thought it strange that someone could begin a federal career at age 57, work 5 years, and earn a retirement check at age 62. Since most federal workers have to work a minimum of 30 years to retire at age 55...it seems that a minimum of 23 years and age 62 should go together....not 5 years and age 62. So...that's what I meant. I don't want to take Boompa's retirement away...
No one has been able to explain to me why young men and women who serve in the U.S. Military for 20 years, risking their lives protecting freedom, only get 50% of their pay at retirement. ...
A 20-year pension [technically a transfer to reserves until the servicemember reaches 30-years in service] is 50% of 'base-pay'.
It is not 50% of their total pay.
For example; I got base-pay and I also got a selection of other pays. The total of my monthly take-home pay was normally around twice my base-pay.
When I retired; my pension was/is 25% of my average take-home pay [from during the last half of my active duty career].
After a person has reaching 20+ years and is transfered to reserves [in my case, I was forced to retire due to high-year-tenure] that person is then subject to recall should the military ever need them again.
It is only after the 30-year point that recalling the person becomes slightly harder as at that point Congress must authorize it.
Congress critters have their own 'social insecurity' etc...
THEIR 'Retirement system' is stand alone.
No, it's not. They are covered under the same retirement system as all other federal employees and is composed of a combination of a defined benefit annuity, Social Security, and a 401(k). (Their annuity portion is computed using the same formula used for federal law enforcement, firefighters, and air traffic controllers.)
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