How do I calculate my Reserve retirement pay?
Computation of Retired Pay The formula for computing equivalent years of service for Reserve retired pay at age 60 is fairly simple: Total number of Creditable Retirement Points, divided by 360. The formula computes the number of equivalent years of service the soldier has completed (comparable to full-time service).
Can you retire after 20 years in the reserves?
A Soldier in the Army Reserve must have completed 20 years of qualifying service to be eligible for non-regular retired pay at age 60. A qualifying year is a complete year in which a Soldier has earned a minimum of 50 retirement points.
How many total points do you need to retire from the Reserves?
To be eligible for a reserve retirement you need 20 qualified years of service commonly known as “good years.” In order to complete a “good year” a member of the reserves needs to accumulate at least 50 points for retirement.
How do you calculate military reserve retirement pay?
Once you’ve determined this amount, it’s easy to calculate your reserve retirement pay: Look up the base pay for your pay grade and time of creditable service on the Department of Defense’s current military pay scale. Multiply the base pay by your years of service for retired pay percentage multiplier.
What is reserve retirement?
Reserve retirement is sometimes called non-regular retirement. Members who accumulate 20 or more years of qualifying service are eligible for reserve retirement when they reach age 60 or, in some cases, a lesser qualifying age.
How do you apply for military reserve retirement?
Get a reserve retirement application form from your service’s personnel command, and fill it out with the required information. Contact information for your service’s personnel command is listed below. Request retirement by submitting a letter with your retirement application attached to your service’s personnel command.