Posted on Jan 17, 2016
If you served a total of 13 years in the Active Army and the final 7 in the reserves how does that translate into retirement?
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Retirement
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Assuming you total around 100 points per year on the reserve side the annuity will be around 37% of your Grade/Years when you transfer to the Retired Reserve. DON'T RESIGN. That will apply to whatever the the pay scale in effect when you turn 60. Pay starts a month after. Also, file whatever VA Disability when you go the the Retired Reserve. Don't wait until you're 60.
Do another career that generates retirement. If you accumulate an annuity, also contribute to a 401. If there is no annuity, put more into a 401. I highly recommend your goal to be to quit when you want and not notice a difference in monthly pay. If you go Civil Service, remember to transfer your TSP into commercial management at 59 1/2. More earnings at same risk.
Do another career that generates retirement. If you accumulate an annuity, also contribute to a 401. If there is no annuity, put more into a 401. I highly recommend your goal to be to quit when you want and not notice a difference in monthly pay. If you go Civil Service, remember to transfer your TSP into commercial management at 59 1/2. More earnings at same risk.
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CAPT Kevin B.
Good points, however TSP has about 35 combinations wherein commercial sector has 10s of thousands configurations, so I've tracked what TSP does vs. my commercial account at similar risk. I've been doing 2+% better per year. The big point to make is to check out all the options. Never assume you're OK somehow.
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CW3 Kevin Storm
MAJ Daniel Buchholz - check or hold on that Sir, if the TSP was earned in a tax free zone in complicates things. Only a portion of it may be transferred over, and that would be the portion that can earn taxes when withdrawn later.
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MAJ (Join to see)
Another piece to consider: if you performed any active duty service while in the Reserve Component, i.e. Title 10 ADOS or MOB, after 28 Jan 2008, you can deduct 90 days for every 90 days served within a Fiscal Year from age 60 and receive retirement pay earlier. So a full fiscal year served will subtract a year from age 60. You can get the pay and then the Tricare kicks in at 60.
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If you google Army Reserve Retirement calculator you will be given a link to HRC. When computing your creditable service time, multiply your 13 years times 365 (one point per day) (4745) then add 58 points per year for 7 years (406 points for your reserve time). Add your Active duty points to Reserve points (5151). Input into the HRC calculator and your approximate pay would be $1112 a month in today's dollars. There are alot of variables to take into consideration. (Your rank at time of retirement, additional points accumulated for completing NCOES etc.)
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SFC (Join to see)
CSM (Join to see) Spot on MSG. Minimum requirement for a "good year" in Res or NG is 50 points. Between membership points (15) and the usual drill weekends (48) and then Annual Training(15). You can also do correspondence course for retirement points (135 per yr max). So yeah you can stack up some good points for a Traditional M-Day Soldier. Down side you can't start drawing check til age 60.
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CSM (Join to see)
Unless you have 90 days or more on Active Duty in support of OCO (GWOT) etc. after 2008. For every 90 period served you retirement age is reduced by 90 days. I should start collecting at 53 and some change.
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