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Military Retirement

Discussion in 'Military Dentistry' started by ucla4lifer, Dec 23, 2008.

  1. ucla4lifer

    2+ Year Member

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    What pay is included in retirement? I assume BAH is not, but what about specialty pay?

    Everyone says how the retirement is really good but what is the amount of money you would most likely get after 20 yrs of service?
     
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  3. krmower

    Dentist 10+ Year Member

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    It will end up being based off of your base pay + a cost of living adjustment that occurs. Specialty bonuses are not included.

    The percentage of your base pay increases by 2.5% each year you stay in past 20. At 20 years you will get 50% of your base salary - at 30 you will be up to 75%. Currently you can go past 30 years in the Army.

    Send me your email address and I have a power point that shows what your retirement is worth at the different points after year 20 and what the equivalent amount is that you would have to save in private practice to equal it.
     
  4. KOM

    KOM Senior Member
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    I thought this was a useful remark regarding retirement made by NAVYDDS in another thread.

    "Technically, the IRR should be the same for the AF as it is for the Navy, but I cannot say for 100% certainty. For us in the Navy, you can stay on the IRR until 20 years as long as you meet a few things. First of all, when you are on the IRR, you are eligible for promotion and your package goes to the board whether you want it to or not. After so many years, if you do not get promoted to the next rank, you will be administratively separated. So, if you just sit there on the IRR without doing anything with the military for let's say 6 years and you don't get promoted to O-4 or if you make O-4 but never make O-5, they might very well administratively separate you because you couldn't make rank. So, you need to show you are at least maintaining a minimal amount of military structure. For the Navy, you can take online courses that will show you are at least doing something. how much it helps, I don't know. What talking those courses does help is making each year a credible year toward retirement. In order for each year on the IRR to count toward retirement, you have to maintain a certain number of reserve credit (drill)days. These can be obtained by takign online courses, drilling with the reservists or requesting to do 2 weeks drill time each year along side the active reservists. The total number of credits you need to make it a credible year is 50. You automatically get 15 days just for being on the IRR, so realistically you only need 3 credits per month or 35 more credits. When I was on the IRR, I would spend a weekend and each night for a week to bust out as many as I could. I got between 40 and 60 credits done this way. That is the equivilent of drilling for 40-60 days. Pretty nice. So, I wasted one weekend and each night for a week to make a year count toward retirement should I choose only to retire from the reserves. Not bad at all. Now, if you don't get 50 credit days, which is the minimum you need, then the year on the IRR will not count toward retirement and eventually you will be released. It would be crazy to be in the IRR for 20 years if you don't make each year count.

    No, you will not be automatically switched over to active duty after the 8 years is up. Now, if you wanted to go back to active duty, you could, but you will not be switched over. Once you have served 8 years (active, active reserve and IRR time), your obligation is over and you can get out at anytime once you have submitted the proper paperwork to resign your commission and it is approved."
     
  5. KOM

    KOM Senior Member
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    My Q to the above thread is how common is it to serve the rest of your 20 years on the IRR and how retirement pay is affected by being on IRR vs serving active duty all 20 of those years.
     
  6. krmower

    Dentist 10+ Year Member

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    It would not be common to serve the full 20 years on IRR - it would be difficult to get "good years". If you want to get any type of retirement or benefits - then at the very least you should look at IMA or DIMA positions - these offer some great flexibility, and with a little effort you can make your "good years" http://www.goarmy.com/reserve/ps/army_reserve_force_structure.jsp

    Retirement pay in the Guard/Reserves is based off of points. Points are based off of how much time you spent on Active Duty, or other ways you acquired points (Continuing Education). For that reason it is difficult to show what you would get. Also, you are not eligible for retirment in the Reserves/Guard until you turn 60 years old. So even if you finish your 20 years when you are 48 yo - you won't get it for another 12 years.

    http://usmilitary.about.com/od/reserveretirmentpay/a/reserveretire.htm
    http://www.armyg1.army.mil/rso/pay.asp
     
  7. KOM

    KOM Senior Member
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    Why not? Hell, minor sacrifice each year and still get full medical? Does it interfere that much with a civilian dental practice?
     

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