"Stop-out" is the name given by the military to a program designed to keep pilots in the military beyond their regular committments. The AF is currently operating under a "stop-loss" program that requires any individuals who desire to separate from the military after their obligation is complete apply for a waiver to separate. The AF is giving waivers but primarily to those individuals (current AF folks can be more specific) who are in some training units, overmanned (very few of these), flying units that may not be directly involved in the war effort or possible staff, non-flying jobs. The Navy, Marines & Army are not restricted at this time to the best of my knowledge.
For those who are active pls correct any info listed above.
From what I have heard ( I am a part time reservist attached to an active duty training unit) the only granted waivers/release from stop loss are for flyers who are hired to guard/reserve units. Not all of these are granted because those who are hired to a AETC reserve unit are not released, but those hired to a tanker unit for example are released. There are no flyer jobs in the air force that are released from stop loss.
The Active Army, Army reserve and the Army National Guard has put "stop-loss" in affect for CH-47, UH-60, C-12, and UC-35 pilots. And some more that I cannot think of off the top of my head. You can get out of the Active Army as a pilot under a waiver, IF you have a National Guard/Reserve unit that will take you as a "weekend" pilot.
Just FYI, the way the leadership at our base (a small pilot training base in northern Mississippi) views stop-loss waivers is "it ain't gonna happen- not on my watch!" They have decided to interpret the policy with their own twist- you have to separate to another flying unit. A ground-pounder reserve or guard job won't cut it. Of course, since the flying guard and reserve units out there are stop-lossed (at best) activated (worse) or deployed (at worst) there are no openings for me and my brothers to go do that airline thing- for now...