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The Army will continue to offer separation pay for soldiers who are being forced out...is this a good idea?
Temporary Early Retirement Authority (TERA), also known as the 15-year early retirement plan, has been authorized by Congress for use during the drawdown through fiscal 2018.
http://www.armyreenlistment.com/news-tera-extended.html
Temporary Early Retirement Authority (TERA), also known as the 15-year early retirement plan, has been authorized by Congress for use during the drawdown through fiscal 2018.
http://www.armyreenlistment.com/news-tera-extended.html
TERA
Retirement
QMP
ACAP/Soldier for Life (SFL-TAP)
Posted 8 y ago
Responses: 14
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Two separate issues here, both are beneficial to the service member at that point in time....for those that join at age 18, retiring at age 33 sounds like a pretty good deal.
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http://myarmybenefits.us.army.mil/Home/Benefit_Library/Federal_Benefits_Page/Temporary_Early_Retirement_Authority_(TERA).html?serv=147
This has existed since 2011.
TERA is not separation pay. It is retirement. Those that qualify for and receive TERA do not receive separation pay. They are retired, early, with a slightly lower pension than a 20-yr retirement, based on time served.
Yes, TERA should continue to be authorized during the drawdown. I expect that as the Army will continue the drawdown past 2018, that Congress will authorize TERA to extend past 2018.
This has existed since 2011.
TERA is not separation pay. It is retirement. Those that qualify for and receive TERA do not receive separation pay. They are retired, early, with a slightly lower pension than a 20-yr retirement, based on time served.
Yes, TERA should continue to be authorized during the drawdown. I expect that as the Army will continue the drawdown past 2018, that Congress will authorize TERA to extend past 2018.
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MAJ Ken Landgren
15 years = .75X.50 = .375 that is the multiple for the base pay for TERA retirement.
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MAJ (Join to see)
MAJ Ken Landgren - it's a bit more complicated than that. See the chart at http://myarmybenefits.us.army.mil/Home/Benefit_Library/Federal_Benefits_Page/Temporary_Early_Retirement_Authority_(TERA).html?serv=147
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MAJ Ken Landgren
First my bad for not knowing it goes to the day. I wondered if their calculations were fair so I did a straight line analysis and got $1477 per month vs. the $1410 in that example. They have managed to covert things to coefficients which I am not about to try to figure out.
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Should they allow TERA, yes in limited situations? However, it shouldn't be a guarantee that if you involuntary separate you will get it. Why? Because if I knew for a fact I would get TERA if separated, I could just purposefully trigger my separation. Start failing your APFT's at 14.5 years and you get to bail out early with TERA. This seems distasteful, but forcing someone to go to 20 years to qualify for retirement is also a form of coercion if they don't want to be there.
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