Ads
related to: dfas military retirement calculator high 3 yearassistantsage.com has been visited by 10K+ users in the past month
assistantmagic.com has been visited by 100K+ users in the past month
Search results
Results from the WOW.Com Content Network
The high-3 for federal retirement is the three highest years of income during your federal career. Typically, your last three years worked are the highest-paid, but not necessarily.
Mounting costs led Congress to pursue reforms to the military retirement system during the 1980s. Under the National Defense Authorization Act of 1981, the military moved from calculating retirement benefits based on the "final pay," or base pay on the final day of active service, to the "High-3" system. [9]
Under the High 36 Retirement System, retirees with 20 years of service will receive 50% of their base pay, or 20 years x 2.5% per year. Those opting for the CSB bonus will receive 40% instead.
The Defense Finance and Accounting Service (DFAS) is an agency of the United States Department of Defense (DOD), headquartered in Indianapolis, Indiana.The DFAS was established in 1991 under the authority, direction, and control of the Under Secretary of Defense (Comptroller)/Chief Financial Officer to strengthen and reduce costs of financial management and operations within the DOD.
The fiscal year 2010 president's budget request for a 2.9% military pay raise was consistent with this formula. However, Congress, in fiscal years 2004, 2005, 2006, 2008, and 2009 approved the pay raise as the ECI increase plus 0.5%. The 2007 pay raise was equal to the ECI. A military pay raise larger than the permanent formula is not uncommon.
For premium support please call: 800-290-4726 more ways to reach us
Ads
related to: dfas military retirement calculator high 3 yearassistantsage.com has been visited by 10K+ users in the past month
assistantmagic.com has been visited by 100K+ users in the past month