How much retirement money does someone get if they retire from airforce?
lets say they started at 20 years old and want to retire is 20 years = 40. Will they have a good retirement check? they are married and have no kids, jw. hes 22 now born in 1988.
Public Comments
- Amount of retirement pay has nothing to do with a military persons age. It has to do with the number of years of active and reserve military service. If the person has 20 total years of active military service, they will receive 50% of their "base pay", when they retire. If they retire at 21 years, then their percentage increases to 52.5% at a rate of 2 1/2% per year until their retirement date. If the person has a mix of active duty and reserve duty, then the percentage for a person with a total of 20 years is less. Each day of active duty equals one retirement point (e.g. 365 active duty days equal 365 retirement points). Active drilling reserves get two retirement points for each drill day (e.g. Sat and Sun equal 4 points). The two week training period equates to 14 retirement points (1 point for each active duty day). Call up to active duty gives the Reservists one point per active duty day. Even Inactive Reserve (IRR) gets a few points that count toward retirement, but not many. All of these points are added up and divided by the total number years of military Service (Reserve and Active duty) to generate a percentage of base pay that will be paid to the retiree when they reach age 60 (those who do not have 20 years retirement or did not qualify for the 15 year early retirement program). Base pay is dependent on the military members military rank (pay grade e.g. E6) and number of years in the Service. Go to www.DFAS.gov and look at the pay tables to determine the base pay (if you know the rank and total number of years military service). If the person has straight active duty and you know the number of years (must be 20 or more), figure the percentage of base pay by multiplying the number of years times 2.5. This will give the percentage. Take that percentage and multiple that times the base pay and you will get the estimated retirement pay based on the current pay charts. If the person is in the high three retirement program, the final retirement pay will be slightly different since the last three years of military base pay are used. If the person accepted the early retirement payment offered a few years ago, they will receive much less since the formula screwed the recipient! Lieutenant Colonel, US Marine Corps - Retired (Retired with both active duty and some Reserve time).
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