Calculators - U.S. Department of Defense Retirement Calculators | The Official Army Benefits Website Personnel Force InnovationFreedom of Information ActDFAS HotlineContact Us Accessibility / Section 508EEO / No Fear Act, An official website of the United States government, Providing payment services for the U.S. Department of Defense. The aim of this US army retirement calculator is to provide service members with the information they need to more accurately weigh their retirement plan options. The Servicemembers Civil Relief Act provides Soldiers important rights that cover issues such as rental agreements, eviction, credit card and mortgage interest rates, and more. Divide your grand total career point count by 360 (because your pay is based on 30-day months) and multiply by 2.5% (or 2.0%) to come up with your service multiplier. Referred to as the "Blended Retirement System," this new system is a combination of a defined benefit plan, similar to predecessor plans that pay monthly retired pay, plus contributions to the Federal Thrift Savings Plan (TSP). You also can download the episode from DVIDS. More than 400,000 DOD service members chose to opt into BRS during the enrollment period, and more than 150,000 new members were automatically enrolled upon entering the service. Requests must be approved within 45 days of receipt of the request. Click LOG IN 3. I appreciate all of the time you take to respond to each question. Your monthly pay may differ from the calculators estimate. A qualifying year is a complete year in which a Soldier has earned a minimum of 50 retirement points. Special information is provided for severely injured Soldiers and their families in the Wounded, Ill and Injured section of the site and for surviving family members of fallen Soldiers in the Casualty and Survivor Assistancesection. See the Retirement page. reserve component's retirement point statement for input into RPAS. "In deployment, Soldiers grow accustomed to a new lifestyle and a new 'family' - those buddies that bond together to defend each other," said Maj. Ken Williams, 14th Military Police Brigade chaplain. 5. This is about the double-dip (collecting both a military pension and FERS pension)! Then youll add them all together and divide by 36. Note that its 97.5% of the Final Pay amount only a 2.5% reduction. Powers of Attorney/Third Party Representatives for Retirees, Powers of Attorney/Third Party Representatives for Annuitants, Survivor Benefit and Arrears of Pay Frequently Asked Questions, https://www.dmdc.osd.mil/identitymanagement/authenticate.do?execution=e1s1, https://soldierforlife.army.mil/Retirement/rso, usarmy.knox.hrc.mbx.tagd-ask-hrc@mail.mil, https://www.hrc.army.mil/content/Gray%20Area%20Retirements%20Branch, Hosted by Defense Media Activity - WEB.mil. The Military Wallet does not include all card companies or all available card offers. Im paying it forward, and Im glad its helping. (more), Life in the time of Coronavirus (COVID-19)The MyArmyBenefits team can help with all things benefits but for information on the current Coronavirus (COVID-19) public health crisis, please visit the links below for up-to-date resources and news regarding COVID-19: (more). Three Creeks Media, LLC 2023. Military Retirement Calculator, Pay & Pension Info | Military OneSource A Soldier earns points for inactive duty for training (IDT), active duty for training (ADT), active duty, Reserve membership, and equivalent instruction, as follows: One point is earned for each day of active service (active duty and active duty for training), 15 points for each year as a Soldier (based on a calendar year from the date the Soldier joins the Army (e.g., 31 March-30 March), One point for each unit training assembly, One point for every three hours of satisfactory completion of accredited correspondence courses. The security accreditation level of this site is UNCLASSIFIED and below. Can I buy back all that time at my GS job while still receiving immediate military pension benefits? MORE: Discover the Power of a VA Loan for Veterans and Military Families. The next question is whether youre retiring under thepay base system of Final Pay, High Three, or the Blended Retirement System (BRS).