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In conjunction with these reforms, the military began using what has become the "standard" calculation for retirement compensation of 2.5% of base pay, multiplied by years of service, with a maximum payout of 75% of base pay in retirement. For example, a soldier retiring after 25 years of service would be eligible for a payment equal to 62.5% ...
United States Code. Title 10 of the United States Code outlines the role of United States Armed Forces. [1] It provides the legal basis for the roles, missions and organization of each of the services as well as the United States Department of Defense. Each of the five subtitles deals with a separate aspect or component of the armed services.
The Uniformed Services Former Spouses' Protection Act (or USFSPA) is a U.S. federal law enacted on September 8, 1982 to address issues that arise when a member of the military divorces, and primarily concerns jointly-earned marital property consisting of benefits earned during marriage and while one of the spouses (or both) is a military service member. [3]
Retirement is the withdrawal from one's position or occupation or from one's active working life. [1] A person may also semi-retire by reducing work hours or workload. Many people choose to retire when they are elderly or incapable of doing their job for health reasons.
United States. The United States Army (USA) is the land service branch of the United States Armed Forces. It is one of the eight U.S. uniformed services, and is designated as the Army of the United States in the U.S. Constitution. [ 15 ] The Army is the oldest branch of the U.S. military and the most senior in order of precedence. [ 16 ]
Thrift Savings Plan. TSP logo. The Thrift Savings Plan (TSP) is a defined contribution plan for United States civil service employees and retirees as well as for members of the uniformed services. As of December 31, 2023, TSP has approximately 7 million participants (of which approximately 4.1 million are actively participating through payroll ...
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A Leave and Earnings Statement, generally referred to as an LES, is a document given on a monthly basis to members of the United States military which documents their pay and leave status on a monthly basis. Employees in the civil service receive a similar document each pay period, called a Civilian Leave and Earnings Statement, a link to which ...