I will definitely let you know how this turns out.
Thanks for the tidbits referencing 1964, my birth year.
Ken
Thanks for the tidbits referencing 1964, my birth year.
Ken
Ron,If you would like a retired pay computation, please provide ALL the following info within one reply:
a. Current average high three base pay for retirement (OR gross retired pay from most recent DFAS RAS...indicate if this is your source)
b. Your approved DoD disability percentage
c. Years and months of active duty or active duty equivalent (for reserves/NG) Non-regular is points divided by 360 = equivalent
d. VA compensation percentage, amount, categories of dependents and the ages of dependent children plus amts and types of SMCs
e. Approved CRSC percentage if applicable
f. If one qualifies for another type retirement, that information is necessary as well. Also indicate if you transitioned to the Blended Retirement System.
g. Do you have a 20 year letter?
h. Have you met the age requirement for reserve retirement?
Ron
Hello,Ron,
hope this e mail finds you well sorry for missing key information. I do have my 20 year letter I’ve been on orders from my return deployment at the WTB I saw no mention of the 60% DOD PEB award in your equation VA will be 3,400.00 I meet the early retirement age to start drawing my retirement I’m under the old retirement system. In event the high 3’s are not used to calculate my pension what other variables can they use. My NGB 23 RPAM states if I retired today I would receive 2,150.00 monthly giving the 5300 points that has been earned.
Final Pay | Defined Benefit that equals 2.5% times the number of years of service times the member’s final basic pay on the day of retirement | Primary retirement plan for Reserve members with initial date of entry into service prior to September 8, 1980 |
High-36 | Defined Benefit that equals 2.5% times the number of years of service times the average of the member’s highest 36 months of basic pay | Primary retirement plan for members with initial date of entry into service on or after September 8, 1980, but before January 1, 2018 |
Thank you so much fully understoodHello,
I used the 60% in the example computation in March.
[from March] This addresses the disability aspect of your retirement using the example figures in the preceding post. You mentioned, "60%DOD- 100% VA".
The process by which a reserve/NG retirement would be computed using the longevity factor is shown in the preceding post.
Using the 60% DoD disability percentage you mentioned, the following would occur.
1. Example 5500 high-three x 0.60 = 3300 retired pay
2. 3300 retired pay reduced by amount of VA compensation 3,279.22 (veteran & spouse example) = 20.78 residual retired pay (i.e., left over)
3. Since you meet the age requirement for reserve retirement and also have a VA rating of 50% or more, you are eligible for CRDP. CRDP is computed as I showed for a normal reserve retirement in the preceding paragraph. The example amount of the reserve retirement (and longevity) is 2292.40.
4. 2292.40 longevity portion of retired pay minus 20.78 residual retired pay = 2271.62 CRDP
5. You would receive in this example:
a. 20.78 plus 2271.62 = 2292.40 paid by DFAS
b. 3279.22 VA Compensation (example amount) [end of example]
Ron
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Comments 14 May 2020
Final Pay Defined Benefit that equals 2.5% times the number of years of service times the member’s final basic pay on the day of retirement Primary retirement plan for Reserve members with initial date of entry into service prior to September 8, 1980
High-36 Defined Benefit that equals 2.5% times the number of years of service times the average of the member’s highest 36 months of basic pay Primary retirement plan for members with initial date of entry into service on or after September 8, 1980, but before January 1, 2018
Your pay will be computed two ways.
1. Either FINAL PAY or HIGH THREE depending on when you entered service x DoD disability retirement percentage (ex. 60%) = Disability retired pay
and
2. Active duty equivalent years and months x 2.5% = longevity multiplier. Either FINAL PAY or HIGH THREE depending on when you entered service x longevity multiplier.
This will be used to determine your CRDP and amount of your reserve / NG retirement.
Your retired pay computed at one above will be reduced by the amount of the VA compensation received. The computation shown at item two above determines how much is given back to you as CRDP.
Ron
Hello,Ron, got 20 years, one month and 3 days of AFS. They approved my COAD to 1 December. Will be going on transitional leave in a couple of weeks.
Hello,Ron I just got this off the DFAS retired site. I don’t understand it and I’m still not sure what my DOD pay will be, help please, see below
ITEM OLD NEW
GROSS PAY 3,731.37 3,611.00
VA WAIVER 3,389.53 3,389.53
SBP COSTS 234.76 221.47
TAXABLE INCOME 120.37 .00
i don’t see anywhere what my monthly medical retire pay will be, I can Assume it will be around $3200 but not sure pls also see previous postings
Hello @NJOnguardPAY ITEM DESCRIPTION
ITEM OLD NEW
GROSS PAY 3,731.37 3,611.00
VA WAIVER 3,389.53 3,389.53
SBP COSTS 234.76 221.47
TAXABLE INCOME 120.37 .00
ITEM OLD NEW
NET PAY 107.08 .00
TAXABLE INCOME:
FEDERAL INCOME TAX WITHHELD:
120.37 .00
Hello,Thank You Ron, given the information DFAS provided what should be my take home retirement pay??
Ron,Hello,
The DFAS information (provided) does not address CRDP; consequently, one cannot determine much from the info you copied and presented here...EXCEPT you are not receiving CRDP.
If fully eligible, your CRDP would be average high three or final pay, whichever applies, multiplied by the longevity multiplier.
If 60% was used to determine the gross retired pay, then 6018.33 is the base (either high three or final pay).
The longevity multiplier is the result of active duty equivalent x 2.5%.
It appears the CRDP would be 6018.33 x longevity multiplier.
Ron