|
Summary
The following chart summarizes the differences between the three current
retirement systems.
| Retirement
System |
Basis |
Multiplier
|
COLA |
Readjustment
|
Bonus |
| Final Pay |
Final basic
pay |
2.5% per year
up to 75% |
CPI |
None |
None |
| High-3 |
Average of
highest 36 months of basic pay |
2.5% per year
up to 75% |
CPI |
None |
None |
| CSB/REDUX |
Average of
highest 36 months of basic pay |
2.0% per year
for the first 20 years; 3.5% for each year beyond 20, up to 75% |
CPI - 1% |
At age 62,
1) changes multiplier to 2.5% per year up to 75%
2) adjusts COLA to full CPI for past retired years |
$30,000 at
15th year of service with commitment to complete 20 year career |
The below chart repeats the basic criteria to determine which retirement
system applies to you. More detail is available in the section titled
Which System.
| Retirement
System |
Criteria
to Receive |
| Final Pay |
Entry before
September 8, 1980 |
| High-3 |
Entry on or
after September 8, 1980, but before August 1, 1986 OR
Entered on or after August 1, 1986, and did not choose the Career
Status Bonus and REDUX retirement system |
| CSB/REDUX |
Entered on
or after August 1, 1986, AND elected to receive the Career Status
Bonus (if you do not elect to receive the Career Status Bonus, you
will be under the High-3 retirement system) |
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Office
of the Under Secretary of Defense for Personnel and Readiness
|
