Air force officer retirement pay

Learn about great opportunities for enlisted airmen, officers and health care professionals. There are two methods for determining the retired pay base. They are the final pay method and the high-month average method. The basic retirement formula is: Retired Pay Base X Multiplier Final Pay Plan.

The retired pay base for a qualified reserve retirement under the Final Pay plan is the monthly basic pay determined at the rates applicable on the day of retirement at the highest grade satisfactorily held during service. The pay grade for this rank is W-2.

High retirement pay at years is of your base pay. The multiplier for the above two plans is 2. Update: This article was originally published in Nov. Due to the way the law was written, many of these officers were scheduled to retire with enlisted pay.

Exact amounts of retirement pay vary by individual and depend on such factors as annual pay raises and dates of longevity pay increases compared to dates of retirement. Monthly retirement pay as of Jan. The only person to hold this rank was Henry H. The table below lists all the standard ranks in the U.

Base pay is the same across all service branches and is based on rank and time in service, with pay raises according to years of creditable service. By selecting the below link you will jump to the U. You also might want to try out the calculators at this Department of Defense Site. Find information on basic pay , pensions, and retirement benefits for service members, veterans, and military retirees, including whom to contact with questions and concerns. Military Pay and Pensions. Air Force retirement estimate form.

HQ ARPC submits retirement orders to the Defense Finance and Accounting Service, DFAS, where they are processed to initiate the retirement payments. Once you have received your retirement order please. This can include any combination of Active Duty, Guard or Reserve time with any military branch.

Reservists also receive tuition fee reimbursement. As retirement plans are affected by policy and congress, I will update my formulas accordingly. A master sergeant with more than years of service would use the factor.

X point value = monthly pay. Severance pay typically involves a one-time payment of two months’ pay for every year served with a maximum benefit of months of pay. You may be qualified for U. See Department of Defense Financial Management Regulation for more detailed explanation on who is eligible for this special basic pay rate.

Whether you’ve experienced military life before or not, you have the opportunity to serve your country, earn extra income and gain health, education and other benefits. Blended Retirement System (BRS).

It applies to all military members eligible for either an active duty or reserve retirement in the RegAF, AFR or ANG. Brad Byington, crunching the numbers and taking a hard look at his career goals pointed to one path: He has decided to stick with the military legacy retirement system, rather.