What's the formula for a retirement pension now, say after 20 years of service? Is it 50%, or 50% of the highest three or last three years?

2017-02-12T18:25:53-05:00

Response by LTC Kevin B. made Feb 12 at 2017 7:41 PM

2017-02-12T19:41:23-05:00

It still depends on when you initially entered the service. For most of today's curent force, it's still the "high three" plan, where you get 50% of your base pay (average of final 36 months) at 20 years. The new pension plan hasn't gone into effect yet (2018). For those who will fall under that plan, the plan will give a 40% pension for the same 20 years, but it also contains other benefits in exchange for the reduced pension payments. Here's a summary.

https://paycheck-chronicles.military.com/2016/03/15/10128/

Pros and Cons of the New Military Retirement Plan

There are some big changes coming to military retirement planning. The 2016 Defense Authorization Act will transform the military’s traditional, 20-year retirement system to a new blended system. T…

Response by COL Charles Williams made Feb 12 at 2017 11:39 PM

2017-02-12T23:39:18-05:00

When I retired, and now, it all depends on when you came in... Final Pay, High 3, etc...
https://www.dfas.mil/retiredmilitary/plan/estimate.html

Estimate Your Pay

Response by SFC George Smith made Feb 13 at 2017 12:33 AM

2017-02-13T00:33:24-05:00

looks Like a New formula sins I Punched out in 1999...
back then it was 50% at 20 and 1.5% for each full year up to 30 or 75% based on base Pay at the Time...

Response by SFC Frank Burns made Mar 19 at 2017 1:46 PM

2017-03-19T13:46:58-04:00

I think that when I retired at Fort Hood, in 2012. The guys there screwed up my Service Time Computations.