US Military Service take 50% of pay at retirement (pension, federal, state)
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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.
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.
I haven't had a chance to look at military retirements, but the statement you made above is most definitely NOT true.
In federal service, when you hear the phrase "full retirement benefit" or similar words, that refers to the full pension a federal retiree will receive based on factors like age, length of service, and salary.
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.
The short answer: That's the way military retirement works.
The long answer:
Yes, if you serve in the military for 20 years and retire at that point, you receive 50% of your basic pay as a pension. There is no age requirement, so that you can retire when you're still in your 30's, get the 50%, and start a second career. Or, you can go for a 40-year military career, and be eligible for 100%.
I'm not one to defend members of congress...as I am pretty much fed up with the whole group. But, members of congress are provided the same retirement benefits other federal workers are. That is, they have to meet the same age requirements and length of service. So...without federal service, anyone serving in the house of representatives for one term would not meet requirements.
Let's say you had a one-term senator...who served six years and was age 62 when he or she finished that term. That senator would quality for retirement. The annual annuity would be the average salary of the highest 3-year period times .017 times the years of service. This is assuming we are talking about any senator elected since 1984...on the Federal Employees Retirement System (FERS). Assuming the average pay was the present figure of $174k per year, with six years of service, that would yield a retirement $17,748 per year. My guess is that those senators will make a lot more money doing something else.
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.
Not completely, if you are too disabled to complete 20 years you get a percentage of a percentage, probably under $1,000 a month. You don't get to collect it either. They deduct anything you get from the VA from that so you probably get nothing for being crippled in the military. Senator Reid tried to correct this four times last year but was voted down by the GOP (supporting the Troops).
Not completely, if you are too disabled to complete 20 years you get a percentage of a percentage, probably under $1,000 a month. You don't get to collect it either. They deduct anything you get from the VA from that so you probably get nothing for being crippled in the military. Senator Reid tried to correct this four times last year but was voted down by the GOP (supporting the Troops).
Yep. I'm Medically retired.
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)
Let's say you had a one-term senator...who served six years and was age 62 when he or she finished that term. That senator would quality for retirement. The annual annuity would be the average salary of the highest 3-year period times .017 times the years of service. This is assuming we are talking about any senator elected since 1984...on the Federal Employees Retirement System (FERS). Assuming the average pay was the present figure of $174k per year, with six years of service, that would yield a retirement $17,748 per year. My guess is that those senators will make a lot more money doing something else.
$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.
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