Military Bonuses

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Need some rumor control. I go on active duty this summer and I'm trying to plan out my financial calendar. When are the physician bonuses paid out? (specialty bones, etc.). I heard rumor that there is a one year delay BEFORE the first check.

Thanks

 

[Homunculus]

MSP ("you're not in training anymore") medical bonus is payable 1 July after you graduate residency (or internship if you are GMO-ing it), if you fill out the memo early enough. talk to your specialty pay peopel to get it lined up so you get it as soon a you can.

my specialty bonus came in october, and my board certified pay came about 2-3 weeks after i submitted my "congrats for passing the boards" letter.

i think that's all the specialy pays i get.

--your friendly neighborhood 7-4-1 caveman

 

[NavyFP]

Need some rumor control. I go on active duty this summer and I'm trying to plan out my financial calendar. When are the physician bonuses paid out? (specialty bones, etc.). I heard rumor that there is a one year delay BEFORE the first check.

Thanks

Additional Special Pay - 15K lump sum, will get as soon as you go AD (at least within a couple months)

Incentive Special Pay - lump sum, usually get in Oct after grad from residency.

Variable Special Pay - monthly, will get immediately

Board Cert Pay - monthly, will get once you pass boards.

Multiyear special pay - lump sum, you can get once your obligation is up.

 

[The White Coat Investor]

Additional Special Pay - 15K lump sum, will get as soon as you go AD (at least within a couple months)

Incentive Special Pay - lump sum, usually get in Oct after grad from residency.

Variable Special Pay - monthly, will get immediately

Board Cert Pay - monthly, will get once you pass boards.

Multiyear special pay - lump sum, you can get once your obligation is up.

Don't make too many plans that depend on getting the ASP and ISP (July and Oct lump sums) right on time. They are often delayed 1-3 months due to funding issues.

 

[Gastrapathy]

Don't make too many plans that depend on getting the ASP and ISP (July and Oct lump sums) right on time. They are often delayed 1-3 months due to funding issues.

At least for me, ASP has always been on-time, ISP has often been late.

 

[NavyFP]

Don't make too many plans that depend on getting the ASP and ISP (July and Oct lump sums) right on time. They are often delayed 1-3 months due to funding issues.

Very true, don't spend the money until it is in your account. I have not had any issues with my bonuses, but then again, my ISP has been tied to an MSP the last few years, so it is not dependant on the yearly instruction.