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How do I figure out Retirement pay??

Discussion in 'Veteran's Forum' started by ricky, Dec 26, 2008.

  1. ricky

    ricky Millennium Member

    556
    9
    May 9, 1999
    Miami, Fl.
    I started out in 1988 and I need to know where to look and find out what I can expect for reserve retirement pay?

    Wherever i look it is very confusing as far as the formula and how you apply it to active duty pay.

    I did do do some active time which helped my points though.
     
  2. JimBianchi

    JimBianchi Da Da CLM

    6,277
    359
    Feb 15, 2006
    Las Vegas
    You are going to have to call the local VA office and ask for the number to the pay and benifits department.

    The formula is jacked up.

    Gets worse if you get rated for a disability.
     


  3. Tired Retired

    Tired Retired

    144
    1
    Jan 8, 2009
    There are several formulas and two major categories. First, did you retire with at least 20 years active duty or as a drilling reservist with more than 20 "good" years? Or is it a medical retirement?

    If with 20 or more years active duty (and having started in 1988), you have to determine if you selected REDUX or not? So do you get a percentage on "high 3" or "redux"?

    If you are a retiring Selected Reservist, its all based on your total number of drill points (active duty time is converted to 1 point per active duty day - ie 1 year equals 365 points). Plus, a Selected Reservist does not receive any money until age 60.

    As you can see, there are so many variables that it is going to take a DFAS calculation to answered your question.

    I recommend that you start with a visit the DFAS site and your service's personnel site. http://www.dfas.mil/ is the DFAS.

    Hope that is helpful.
     
  4. Rubirosa

    Rubirosa Not Amused

    761
    0
    Sep 30, 2006
    GA
    Find your local Veterans Service Officer... They are employees of your state but may be found in a lot of places, including the nearest VA clinic.