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Command Post What is this?
Posted on Feb 25, 2015
SFC Network Engineer
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SFC Mark Merino
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Great thread SFC (Join to see). Congrats on retirement as well. Never leave things till the last few years. There are never guarantees in life.
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SFC Network Engineer
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AWESOME! I got the RP Medal! LOL!
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SFC Contract Administrator
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SFC (Join to see), well deserved.
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SFC Contract Administrator
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Retirement - a 'process' not an 'event'

We all know that pension policy is under the microscope at the moment. There is much talk of 'raising the retirement age' as a way to solve the problem of increasingly inadequate, yet costlier State and private pensions. If we are to provide a sustainable solution, we need to consider the issue from a broader perspective. The idea of one retirement age is, in my view, outdated. We need to move away from the notion of going straight from full-time work, to full time 'non-work'. Social attitudes - of both employers and employees -will need to focus on the benefits of gradual and phased withdrawal from the labor force. Retirement should become a 'process', not an 'event'.

http://www.rosaltmann.com/retirementandpenionsprocess.htm
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SFC(P) Tobias M.
SFC(P) Tobias M.
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SFC (Join to see) I agree 100% with you and that is why I love what I do in the civilian world.
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CSM Michael Lynch
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SFC (Join to see) Congratulations on your retirement and you have provided others some great advice. I would like to add one thing to your On Pay advice: If you are like me and have a Home of Record, in my case Vermont that didn't require me to pay state taxes while I was in the military and retire to a state that taxes your retirement it will not be set up by DFAS to pay those taxes. It took me 3 months to realize that I needed to set it up and guess how much to have taken out and had to pay extra to cover the first 3 months.

Also the first whole year you are out and file your taxes, you will get sticker shock. It was the first year in the last ten that I had to pay and no refund and it wasn't a little either. Neither DFAS nor my new company were taking out enough. Plan ahead for this by making sure you change W4's to cover you.
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CW5 Desk Officer
CW5 (Join to see)
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I had the same (sticker shock) tax issue after retirement, CSM Michael Lynch, and I agree wholeheartedly with your advice to adjust the W4.
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SFC Network Engineer
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CSM Michael Lynch: Well put... Believe it or not, I JUST went through the SAME thing! I wound up owing state taxes to NC because as you aptly pointed out, DFAS doesn't take it out automatically...
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