No private corporation can beat U.S. Army, Navy, Marine Corps or Air Force retirement benefits. Unlike most pensions, retiring from the Army or other Armed Forces means you start collecting from the day you retire, regardless of your age. Also, your pension check will receive regular cost of living increases. In today’s hard economic times, retirement planning can mean the difference between enjoying the last years of your life or welcoming customers to Wal-Mart.
How Much Will You Get?
Benefits are determined using several variables, including length of service, pay grade at the time of retirement and several other factors. Recently, the military retirement pay cap was lifted, effectively raising potential retirement earnings for millions of military retirees. Service members who remain on active duty can receive a multiplier to compensate them for the additional years. Retirement pay can be received through the Final Pay system, the High 36 system or the Career Status Bonus system. Discuss your options with a military retirement advisor to ensure that you get the best treatment for your situation.
What Is There Besides Money?
The Army and other Armed Forces have always taken care of their own. Your military retirement benefits package includes preventative and curative medical and dental care, counseling services, home buying and refinancing workshops, financial education training, professional career training, burial services and many other benefits that help you keep your pension check.
Military hospitals provide America’s veterans with state of the art medical care. Educational, training and counseling services improve the quality of life for many retirees. Unlike civilian retirement benefits, the Armed Forces are always there when you need them.
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