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All military retirements are protected from inflation by an annual Cost of Living Adjustment (COLA), based on changes in the Consumer Price Index (CPI) as measured by the Department of Labor. Under the Final Pay, High-36, and BRS retirement plans, the annual COLA is equal to the percentage increase in the CPI year over year.
Military retired pay stops upon death of the retiree! The Survivor Benefit Plan (SBP) allows a retiree to ensure, after death, a continuous lifetime annuity for their dependents. The annuity which is based on a percentage of retired pay is called SBP and is paid to an eligible beneficiary.
Active Duty Retirement. Members who accumulate 20 or more years of active service are eligible for retirement. There are three non-disability retirement plans currently in effect for active duty retirees. These are Final Pay plan, High-36 Month Average plan, and Military Retirement Reform Act of 1986 (more commonly referred to as REDUX) plan.
Reserve retirement is sometimes called non-regular retirement. Members who accumulate 20 or more years of qualifying service are eligible for reserve retirement when they reach age 60 or, in some cases, a lesser qualifying age.
BRS Calculator - This calculator estimates your retirement benefits under the Blended Retirement System (BRS). High-3 Calculator - This calculator estimates your retirement benefits under the Legacy High-3 retirement plan.
The basic retirement formula is: Retired Pay Base X Multiplier %. The retired pay base for a qualified disability retirement is determined under either the final pay method or the high-36 month method depending upon when they first entered military service. See Retirement tab for details.
New Retired Benefits Program. The Department of Defense has two programs designed to reduce the reduction in retired pay due to receipt of Veteran Administration compensation, for certain disabled retirees.
The Survivor Benefit Plan is a Department of Defense sponsored and subsidized program that provides up to 55 percent of a service member's retired pay to an eligible beneficiary upon the death of the member.
The Blended Retirement System combines elements of the legacy retirement system with benefits similar to those offered in many civilian 401(k) plans. The opt-in period for the majority of service members closed Dec. 31, 2018.
Develop and oversee implementation of personnel policies that maintain fair and competitive compensation and entitlement systems. Formulate, implement, and administer DoD policy on Military Personnel Compensation for the total force.