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I think DoD as well as the U.S. Government would have to be in pretty bad shape to not honor retirements. The problem I see is that they may cut into it. My Dad is retired career military and a bad rumor he's heard recently in the retired circles is that they want to reduce retirement checks in the amount of social security. This is, of course, total BS - penalizing folks who have served their country honorably because the Gov't is in a pinch. I'm not sure this could actually happen or there would be a total uproar, however the thought of it is bad enough. Who knows, it may happen to all of us, I for one fully expect to get nothing from social security. If it is still solvent when I retire I'm sure the age to start getting payments will have risen to 85 or so. Anyway, I'm rambling...
I left at 14 years and 7 months of Active Duty and decided prior to leaving that I would stay through 20 in the Reserve, just not smart to throw away all that time. I'm very happy with my decision...hopefully I'll be even happier in 20 years. It could be a crapshoot today though - need to get on with a good company that hopefully has a solid future ahead. If you leave, plan to do whatever it takes to get a Reserve/Guard retirement. I've talked to a lot of Captains who did the Reserve/Guard thing for years - to a man they all say it sucked at times but boy are they happy about that check that will start coming in the next couple of years. It will either be a nice bonus at retirement from your second career job, or maybe a life-saver if things don't go as planned. In the airline business (or any for that matter) you just never know what's around the next corner.
I left at 14 years and 7 months of Active Duty and decided prior to leaving that I would stay through 20 in the Reserve, just not smart to throw away all that time. I'm very happy with my decision...hopefully I'll be even happier in 20 years. It could be a crapshoot today though - need to get on with a good company that hopefully has a solid future ahead. If you leave, plan to do whatever it takes to get a Reserve/Guard retirement. I've talked to a lot of Captains who did the Reserve/Guard thing for years - to a man they all say it sucked at times but boy are they happy about that check that will start coming in the next couple of years. It will either be a nice bonus at retirement from your second career job, or maybe a life-saver if things don't go as planned. In the airline business (or any for that matter) you just never know what's around the next corner.
Andy Neill
Well-known member
- Joined
- Nov 26, 2001
- Posts
- 2,293
Those who entered service after '86 will have retirement pay equal to years served times 2 1/2% * highest 36 months average monthly pay. For a full colonel with 20 years of service, this is between $3500 and $3600 a month. For a Lietenant Colonel, it would be between $3100 and $3200/month.psysicx said:
YeOldeProp
Well-known member
- Joined
- Feb 12, 2002
- Posts
- 102
Hey Andy...I think the High-3 came into affect as far back as September of 1980. For the rest of the folks, the way I read it is that High-3 takes your last 3 years of BASIC pay and averages it. Since there's a pay increase in there and an annual pay raise, it's definitely to the military's advantage math-wise. Then that number is put to the calculations of 2.5% times the number of years served (min 20) and all that stuff. Someone did the math a while ago and I thing the High-3 trims off a $150+ per month from retirement pay versus the old 50% basic pay deal. Put that savings over all the folks who retire and all the years they receive retirement pay and it's a pretty significant number of $$$'s.
Back in 80's there was a bit of an underground movement to put 50% of the max Flight Pay (also known as Aviation Incentive Pay...never an "allowance") you earned into the equation. Would be significant nowadays ($400+ a month more in the retirement paycheck). Would rather see this suggestion come back versus the rolling bonus programs that have gotten the hook into so many of the youngsters these days. Might have some affect on retention and the former "good thoughts" about 20 in the military.
Good flying all...
Back in 80's there was a bit of an underground movement to put 50% of the max Flight Pay (also known as Aviation Incentive Pay...never an "allowance") you earned into the equation. Would be significant nowadays ($400+ a month more in the retirement paycheck). Would rather see this suggestion come back versus the rolling bonus programs that have gotten the hook into so many of the youngsters these days. Might have some affect on retention and the former "good thoughts" about 20 in the military.
Good flying all...
dabandermac
fratdaddy
- Joined
- Aug 7, 2004
- Posts
- 60
CV,
The reserve retirement is really confusing...here is a short explanation. Once you leave AD and join the guard, your retirement becomes based on the number of "points" you amass. The way "points" are earned and calculated can really be confusing, but for the most part one day of drilling in the reserves equals one point. 365 points equals one active duty year. Of course, you'll receive 365 points for each year you served on AD and one point per day for each day on AD above a year.
So, hopefully you continue to promote while in the reserves all the while drilling away earning more and more points. When you finally retire after 20 good years or more, you can take the total number of points you have divide by 365 and multiply that by 2.5%. The number you get will be the percentage of base pay that you will receive once you reach age 60. There's the catch...you may retire from the reserves at age 42, but you won't receive a thin dime in retirement pay until you reach 60.
There are other ways to earn points besides drilling (ie - correspondence courses, CAP, etc). If you're a flyer, you can earn two points for one flight by getting off deck and getting the gear up. Anyway, you could earn a master's degree trying to figure out how reserve pay and points are determined.
Hope this helps (at least a little!)
kingairip
The reserve retirement is really confusing...here is a short explanation. Once you leave AD and join the guard, your retirement becomes based on the number of "points" you amass. The way "points" are earned and calculated can really be confusing, but for the most part one day of drilling in the reserves equals one point. 365 points equals one active duty year. Of course, you'll receive 365 points for each year you served on AD and one point per day for each day on AD above a year.
So, hopefully you continue to promote while in the reserves all the while drilling away earning more and more points. When you finally retire after 20 good years or more, you can take the total number of points you have divide by 365 and multiply that by 2.5%. The number you get will be the percentage of base pay that you will receive once you reach age 60. There's the catch...you may retire from the reserves at age 42, but you won't receive a thin dime in retirement pay until you reach 60.
There are other ways to earn points besides drilling (ie - correspondence courses, CAP, etc). If you're a flyer, you can earn two points for one flight by getting off deck and getting the gear up. Anyway, you could earn a master's degree trying to figure out how reserve pay and points are determined.
Hope this helps (at least a little!)
kingairip
My two cents.
My old man flew for FDX for about 15 yrs. He had 24 yrs AD. Between the two, he pulls in about 90K/yr retirement. Pretty nice deal if you ask me.
I had a Capt (still military, ALO for USAFA) tell me the other night that if I bagged an extra trip or two on draft or something like that each month, I'd come out way ahead in the long term on that pay vs mil retirement. He's right, but I still really, really enjoy flying fighters. I guess the bottom line is that I'll fly for as long as I enjoy it and still feel safe in a fighter. After that, I'll do the non-fly/ALO gig for USAFA. The 20 yr gig is very attractive, and I guess my advice is to serve as long as you feel comfy. If you're young and sandbag extra trips, you'll come out ahead. However, if (god forbid), FDX has the "troubles," and isn't around in 20 yrs, then f*** yeah the Mil retirement looks good!
My old man flew for FDX for about 15 yrs. He had 24 yrs AD. Between the two, he pulls in about 90K/yr retirement. Pretty nice deal if you ask me.
I had a Capt (still military, ALO for USAFA) tell me the other night that if I bagged an extra trip or two on draft or something like that each month, I'd come out way ahead in the long term on that pay vs mil retirement. He's right, but I still really, really enjoy flying fighters. I guess the bottom line is that I'll fly for as long as I enjoy it and still feel safe in a fighter. After that, I'll do the non-fly/ALO gig for USAFA. The 20 yr gig is very attractive, and I guess my advice is to serve as long as you feel comfy. If you're young and sandbag extra trips, you'll come out ahead. However, if (god forbid), FDX has the "troubles," and isn't around in 20 yrs, then f*** yeah the Mil retirement looks good!
The Navy's BUPERs website has a reserve retirement calculator that accounts for inflation etc... I'm sitting at 5000 points which equates to $4500-5500mo depending on my final rank.
http://staynavytools.bol.navy.mil/RetCalc/Default.aspx
http://staynavytools.bol.navy.mil/RetCalc/Default.aspx
Last edited:
BMD
Well-known member
- Joined
- Jul 27, 2002
- Posts
- 77
military
Recently made the decision to stick around for the 20. Spent the last couple of years working with reservists who were furloughed from the majors and decided I didn't want to take a chance on it. Having said that, the navy's BS can be difficult to stomach sometimes. The prospect of another 8 years on AD with deployments and all that stuff doesn't particularly thrill me. Fortunately, the 6 figure paycheck (including bonus) does. My .02. BMD
Recently made the decision to stick around for the 20. Spent the last couple of years working with reservists who were furloughed from the majors and decided I didn't want to take a chance on it. Having said that, the navy's BS can be difficult to stomach sometimes. The prospect of another 8 years on AD with deployments and all that stuff doesn't particularly thrill me. Fortunately, the 6 figure paycheck (including bonus) does. My .02. BMD
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