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13-Jun-2019 19:53

8, 1980, divide the number of retirement points by 360.

That gives you the years of service (in active-duty years). Multiply that by the basic monthly active-duty pay for your grade and years of service on the retired-pay effective date (normally your 60th birthday).

Round that figure down to the nearest dollar to get the actual monthly retired pay.COLA The annual cost-of-living adjustment for military retired pay is based on changes in the Consumer Price Index, a government measure of the cost of goods and services, although the actual increase each year must be formally approved by Congress. Military retirees under the traditional and High-3 retirement plans receive full COLAs annually as determined by increases in the CPI.Redux retirees receive 1 percentage point less each year.If you believe you have 20 qualifying years and have not received a notification letter, gather your documentation and contact your reserve center.

Army reservists between ages 58 and 59 will receive from the Reserve Personnel Command an application for retired pay at age 60 if they have earned a 20-year letter and maintained a current address.To qualify, they must have spent at least eight years in the military or the disability must have been incurred in the line of duty.

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