REDUX/ CRSC/ AGE 62

C

carl r

New Member
Registered Member
Good morning all. I have searched and have been unable to find an answer. I elected to take the REDUX which obviously lowered my retirement. I am almost 61 and my understanding is at 62, my retirement pay would increase as though I never took the redux. I have been approved for CRSC last month.
Would there automatically be a recalculation of my CRSC like CRDP would be? Hope this is clear as mud. TIA, Carl
 
From DFAS:

CSB/REDUX Retired Pay Calculation

​
Retirement Calculator

Your monthly pay may differ from the calculator’s estimate. The formulas used to calculate retired pay are complex and differ depending on individual circumstances.
CSB/REDUX Retirement Calculator

Non-Disability retirees will have their percent multiplier reduced by:

  • 1 percent for each full year of creditable service less than 30, and
  • 1/12th of 1 percent for each full month of creditable service less than a full year.
This will also affect your retired pay by reducing the cost of living adjustments (COLA) by one percent.

This reduction remains in effect up to the age of 62. Once you reach age 62, your retired pay will be restored to the same amount paid under the High-3 System. Full COLA rates will be applied to your new computation, but the COLA will continue to be applied at the reduced rate each year following.


Comment:
I suspect the new rate will be computed without notice from you.

If not done, or you want to “alert” DFAS of your upcoming 62nd birthday, you can contact DFAS Retired Pay.
The DFAS address and phone number are easily found: search DFAS Retired Pay

Ron
 
RonG said:
From DFAS:

CSB/REDUX Retired Pay Calculation

​
Retirement Calculator

Your monthly pay may differ from the calculator’s estimate. The formulas used to calculate retired pay are complex and differ depending on individual circumstances.
CSB/REDUX Retirement Calculator

Non-Disability retirees will have their percent multiplier reduced by:

  • 1 percent for each full year of creditable service less than 30, and
  • 1/12th of 1 percent for each full month of creditable service less than a full year.
This will also affect your retired pay by reducing the cost of living adjustments (COLA) by one percent.

This reduction remains in effect up to the age of 62. Once you reach age 62, your retired pay will be restored to the same amount paid under the High-3 System. Full COLA rates will be applied to your new computation, but the COLA will continue to be applied at the reduced rate each year following.


Comment:
I suspect the new rate will be computed without notice from you.

If not done, or you want to “alert” DFAS of your upcoming 62nd birthday, you can contact DFAS Retired Pay.
The DFAS address and phone number are easily found: search DFAS Retired Pay

Ron
Click to expand...
Thx Ron, I understand my retirement pay will increase at 62. I am curious if I accept my CRSC, if that would increase at age 62 as well. Im trally teying to decide between the 2
Thx again
 
carl r said:
Thx Ron, I understand my retirement pay will increase at 62. I am curious if I accept my CRSC, if that would increase at age 62 as well. Im trally teying to decide between the 2
Thx again
Click to expand...
Ref: CRSC with REDUX at Age 62

That is esoteric, at least in my opinion.

1. Since CRSC is the lesser of
—the amount of the longevity computation
OR
— the amount for the approved CRSC percentage using the VA comp tables

2. I think your new rate at 62 will be used to determine the longevity

Ron
 
carl r said:
Thx Ron, I understand my retirement pay will increase at 62. I am curious if I accept my CRSC, if that would increase at age 62 as well. Im trally teying to decide between the 2
Thx again
Click to expand...
New: Ref: CRSC with REDUX at Age 62

That is esoteric, at least in my opinion.

1. Since CRSC is the lesser of
—the amount of the longevity computation
OR
— the amount for the approved CRSC using the VA comp tables

2. think your new rate at 62 will be used to determine the longevity

Ron

Edited to add:
It appears Your new retired pay will be increased.
Since longevity retired pay is one of the CRSC ceilings, that ceiling increases too.
 
Hello,

What is your current CRSC percentage and what is your amount of CRSC.

Ron
 
I am in a smililar situation as Ron, I retired under the REDUX plan and was awarded 90% CRSC, which is currently more than mu longevity pay. My question id at 62 my longevity pay will almost double and will my CRSC at that time actually give me the 90% CRSC tax free(currently $2250)? I believe I will receive a second check for the remaining amount of my longevity which would be taxed.

Am i Understanding thins correctly and if so will these recalculations happen automatically of do I need to submit something on my end?

V/R
Joey
 
1Whitmoyer said:
I am in a smililar situation as Ron, I retired under the REDUX plan and was awarded 90% CRSC, which is currently more than mu longevity pay. My question id at 62 my longevity pay will almost double and will my CRSC at that time actually give me the 90% CRSC tax free(currently $2250)? I believe I will receive a second check for the remaining amount of my longevity which would be taxed.

Am i Understanding thins correctly and if so will these recalculations happen automatically of do I need to submit something on my end?

V/R
Joey
Click to expand...
Not sure RonG is responding to anyone anymore. He may no longer be active FYI.
 
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