Military retirement question!?
I joined the U.S Army in 1986 but did not retire.I would like to know what would my retirement pay be if I woulld have stayed in for ONLY 20 yrs.I might have been a E-7 or E-8..If you joined the military in 1986 or 1987 and you are a E-7 or E-8 and just retired or you will be retiring soon what is your or will be your retirement pay?? TKS
Public Comments
- About $1,700 a month.
- i can get you close to your answer, but not exactly. I went into the service in 1971 and retired in 1993, and had 22 years of service and retired as an E-7. My Retirement pay from the AF is roughly $1,750 a month, but then there are those pesky taxes (federal)...but, as with most retired vets, you could have applied for and most likely received some sort of disability rating from the VA. When I first retired, VA would offset your retired pay dollar for dollar, and when I first retired, my VA disability was right around $800. So, I got $800 from the VA, tax free, and the balance or $950 from the AF, taxable. Since around 2003 or 4, the congress passed the CDRP ruling, whereby they are giving back the retired pay that you should have been receiving all along. But not all at once. The first year was 30%, then 40% , and now I believe it is 48%, but even now, my total retirement after taxes, is right around $2,700 a month. Over the next 4 years, it will be fully restored and I should be getting around $3,600 a month. That obviously doesn't include the cost of living increases each year, which is equal to the pay raises that the active duty gets. If you want the exact figures for the number of years in, go to: www.dod.gov and check the current pay charts. Then multiply the base rate for an E-7 or E-8, times the number of years in the service, times 2.5%. That will be your gross military retirement pay amount. Hope that helps.
- the other answers are good answers. My husband retired Navy in 1997 as an E-6 and gets $1400 a month.
- I am using my husband's account right now he is an E-8. I asked him, if he retired now what would he make in retirement a month? He said $2,100 he came in the Army in 1985.
- http://www.defenselink.mil/militarypay/retirement/index.html This is the best way to play with the numbers and find out. E7: According to the high 3 system you would pull about $1820 a month. If you enlisted before September '86 you would be under the final pay system and your monthly pay would be $1858. Of course, this would be adjusted every year by the DOD for inflation. E8: high 3 $1990 final pay $2081 When you use the calculator input 2007 as your retirement year, this way the numbers won't be adjusted for inflation, and it will be easier to get a true idea of what you could take home each month. By using this tool I realized it was smarter for me to stay in for 26 to 28 years, that way my retirement pay is almost doubled. Getting out right at 20 is not a good idea, for any grade.
- Here is the link to the 2007 pay tables. For just 20 years, take 50%.
- Go to the DFAS website(just google it), look at the military pay scale and entering from 1986 you would have retired under the High 3 plan. Take your last three years salary add and divide by three then cut it in half for 50%, remember to add 2.5% a year until it reaches 75%
