If you do that you could get retroactive credit for your 4 years in HPSP (credited as 50 points for each year) and theoretically retire out of the Reserves at 16 years after medical school.
Never mind doing 20. If you're HPSP, you can invest in the blended retirement system, and 'retire' at the 8-, 10-, or even 12-year mark. This might be lucrative even for primary care specialties. The blended retirement system is going to essentially kill the MC....but then again, I don't think the inventors of the blended system cared all that much about it's effect on the MC!I was wondering if you could get 20 “good” years in less than 20 years? If so what can I do to get enough points to make this happen? I actually don’t care about the money of retirement I just want to retire fast. AF hpsp
My understanding the last time i read it was each of your hpsp years was activated for each reserve year you did. Thus for my situation...i could get out at 13 yrs, pull 4 years reserve, and get 4 years credit for 21 years total but if i only did 3 reserves then i would only get 3 credit and put me at 19 instead. Basing this of someone else's experience in my current department and reading regs...please let me know if I'm wrong.
On another note, you can work for 2 pensions if you grab a reserve retirement and gain federal employment (e.g. MEDCEN contract or VA doc). Federal law allows it with a reserve retirement but not an active duty one. Combine that with better pay, fewer hours, less admin b.s., more retirement fund matching, acess to TSP and TSP catchup if you stsy in long enough and i don't see why anyone stays in 20 active for the retirement.
Well there's that "totally free of the government at a young age, except for the burden of accepting direct deposit retirement checks at that young age" thing.
It's a great FU account. Will never feel obligated or pressured to stay in a lousy job or location because the bills have to be paid.I look at it as a way to be extremely flexible in choosing my next job at the old age of 46. Want to work academics and take the “academic pay cut”?? Well not as big a deal when you’re making 50-60k/yr just for waking up. Want to take a part time job and work 3 days a week? Awesome, you’ll probably make more than you did working 5-7 days a week on active duty. Want to just retire to the mountains and live in a cabin? Well you could do that too.
Staying to 20 certainly has its disadvantages too, but for some it makes sense.