Why do military retirees collect retirement......

[Radiant1]

Where do you think they get their funding from?

I know where they get their funding from, but that doesn't directly pay a Boeing employee's retirement. I assume they, like everyone else, has a 401K that relies on investments and not taken directly from taxpayers. It's not the same thing, thurley.

no offense taken..it is a good retirement for a government schelp.. I never killed myself at work....if I live to 80, collecting this for 25 years would equal 2.5 million dollars in retirement income for me -in terms of reductions, I'll reduce when/if the government changes the law, just like everyone else.

Thank you for being honest and reasonable about it, I appreciate that.

 

[PsyOps]

Sad thing is, is that the military is kicking people out at 15 years of service.

This happens from time to time. Usually they give people the option offering an incentive to take a large check at 15 years. I'm not aware for a current plan to kick people out at 15.

 

[DoWhat]

I know where they get their funding from, but that doesn't directly pay a Boeing employee's retirement. I assume they, like everyone else, has a 401K that relies on investments and not taken directly from taxpayers. It's not the same thing, thurley.

The Government is a business.

 

[somdforever]

Stand down sparky. I asked because I didn't know. Most of the civil service I know are retired military and aren't concerened about the upcoming furlough because their civil service job is their second career but others I know don't have that retirement to fall back on. Do police and fireman collect at 65 also?

Actually, career firefighters (those who are paid for their service), have 20-25 year retirements, and they don't have to wait until they are 65. Not sure why you are focused on 65, but guess you are think SS age, which in most cases now, is 66 or 67. Police agencies are the same. Like the military, they too can draw SS when they reach the SS retirement age(s). Also like the military, not everyone is cut out or willing to do the jobs these 3 groups of folks do.

 

[DEEKAYPEE8569]

Says who? I'm getting ready to retire and can collect my retirement bennies right away. If you're talking about Social Security, THAT doesn't kick in until 65. I can collect on my pension when I retire and turn 55.

You aren't victim of a penalty, retiring before you're 65, are you?
I know that retirement bennies are different than S.S.. I'm also guessing that there isn't a minimum age you have to reach before retiring.

 

[DEEKAYPEE8569]

For us, it's a 'magic number' of 85, years of service plus age. I made that 3 years ago.

That just sounds like somebody's idea of a fancy math problem.
'Let's take these two numbers and add them together....."
Using that formula, my 'magic number' is a tad less though.

When you retired, was there a minimum age at which you could retire; or a penalty you would have to live with if you retired before the minimum retirement age? (Sorry, that sounded better in my head)

I have the time in; 25 year, this October; I just don't have the age yet.

From what I've read, I would have to stay in until I'm something like 57, to retire at the minimum retirement age, and still have to eat a 2% penalty for retiring 8 years "early."

 

[mAlice]

I've asked here before why the family members don't get a pension too. My dad got to cruise the Med and visit cool places while my mom and sisters were back living in $hitholes in some foreign country (against our will) and like the vast mojority who serve, nobody ever shot a bullet at my dad in 31 years of service.

How is it that your family was forced to go to foreign countries?

 

[Ken King]

I have the time in; 25 year, this October; I just don't have the age yet.

From what I've read, I would have to stay in until I'm something like 57, to retire at the minimum retirement age, and still have to eat a 2% penalty for retiring 8 years "early."

Age Reduction

If you have 10 or more years of service and are retiring at the Minimum Retirement Age, your annuity will be reduced for each month that you are under age 62. The reduction is 5% per year (5/12 of a percent per month). However, your annuity will not be reduced if you completed at least 30 years of service, or if you completed at least 20 years of service and your annuity begins when you reach age 60. You can reduce or eliminate this age reduction by postponing the beginning date of your annuity.

Okay, you have 25 years now, if you get to 30 years at or before you reach your MRA you should not see a reduction.

 

[DEEKAYPEE8569]

Okay, you have 25 years now, if you get to 30 years at or before you reach your MRA you should not see a reduction.

Five more years come this October; 49 years old in '18 :fingerscrossed:, if I did the math right.

 

[Lurk]

How is it that your family was forced to go to foreign countries?

When stationed overseas, the family has the option of staying behind while the military member lives overseas. Don't know how much an enlisted member makes in housing for dependents and whether that is sufficient to keep them in adequate housing.

I have always believed the U.S. Navy's position is that if the active duty male ships out, the dependent wife is supposed to go home to her mother until he is back in the States. That is based on the quality of on-base enlisted housing evident until the past 10-15 years.

 

[CrashTest]

How is it that your family was forced to go to foreign countries?

When you're 6 years old, you lack the wherewithall to live by yourself. You kinda have to live where your dad tells you to live and share some of the sacrifice right along with him, even if it's a $hithole like Keflavik Iceland.

 

[DEEKAYPEE8569]

When stationed overseas, the family has the option of staying behind while the military member lives overseas. Don't know how much an enlisted member makes in housing for dependents and whether that is sufficient to keep them in adequate housing.

I have always believed the U.S. Navy's position is that if the active duty male ships out, the dependent wife is supposed to go home to her mother until he is back in the States. That is based on the quality of on-base enlisted housing evident until the past 10-15 years.

What is the Navy's position on both parents being active duty? Who or what decides who is deployed and who isn't? Surely both parents; of young children mind you; would not be deployed at the same time.

 

[mAlice]

When you're 6 years old, you lack the wherewithall to live by yourself. You kinda have to live where your dad tells you to live and share some of the sacrifice right along with him, even if it's a $hithole like Keflavik Iceland.

Seriously? I lived in Keflavik for 2.5 years. Even the ####hole housing wasn't as bad as you make it out to be, and Iceland in general is a beautiful country, with very friendly people, and so much to do you couldn't possibly do it all in one tour. You sound very bitter.

 

[mAlice]

I have always believed the U.S. Navy's position is that if the active duty male ships out, the dependent wife is supposed to go home to her mother until he is back in the States. That is based on the quality of on-base enlisted housing evident until the past 10-15 years.

It depends on how long the active duty member will be gone. I did a 6 month separation while we were stationed in Spain, but it was because I chose to. What do you mean by the quality of on-base housing? And why would the dependent wife go home to mother?

 

[Ken King]

Five more years come this October; 49 years old in '18 :fingerscrossed:, if I did the math right.

You still have to reach your MRA of 57 to receive an immediate annuity.

 

[CrashTest]

Seriously? I lived in Keflavik for 2.5 years. Even the ####hole housing wasn't as bad as you make it out to be, and Iceland in general is a beautiful country, with very friendly people, and so much to do you couldn't possibly do it all in one tour. You sound very bitter.

You probably didn't live there in 1962. And I'm sure it is a beautiful country but in the early 60's, service members and their families were basically confined to the base. The Icelandic Gov was 67% Communist back then and that's how they wanted it.

And I'm not bitter at all. It's just that service members usually mention family when talking about sacrafice but never mention family when talking about who deserves the pension. I'm just pointing that out.

 

[vince77]

I'll throw the flag By law, the maximum one can receive under CSRS is 80%, so you cannot be receiving anything greater. Not to mention that to achieve 80% one would have to have spent 42 years 11 months of service.

LEO fed retirement...

2.5% per year...30 years.....75%

16 hour a week fed job while in high school 2.5% per year.....2 years.....5%

thats 80%......then if you have a cache of S/L it counts toward more service when computing retirement, I had a bunch....thats brings you over 80% +

not unusual for those receiving COLA's every year to eventually equal 100% of what they earned working..

I have a friend that has a similar retirement that works at a golf course 8 months a year and collects unemployment for 4 months every year..on top of this retirement I have...

I understand why people get mad......

 

[Lurk]

It depends on how long the active duty member will be gone. I did a 6 month separation while we were stationed in Spain, but it was because I chose to. What do you mean by the quality of on-base housing? And why would the dependent wife go home to mother?

Until the recent construction of enlisted housing on NRL (talking 10-12 years ago now) the houses I drove past every weekday for six years were 1-2 bedroom bungalows on concrete-block foundations. Tiny, poorly maintained shanties.

On base enlisted housing on numerous Army posts are hardly better. However, the Pentagon wised-up and allowed commercial housing developers onto the base and post to rebuild, maintain, and fill on-base housing. However, it turns out that so many military are being RIF'd, on-base housing is now being offered for military retired and contractors.

 

[MMM_donuts]

You probably didn't live there in 1962. And I'm sure it is a beautiful country but in the early 60's, service members and their families were basically confined to the base. The Icelandic Gov was 67% Communist back then and that's how they wanted it.

And I'm not bitter at all. It's just that service members usually mention family when talking about sacrafice but never mention family when talking about who deserves the pension. I'm just pointing that out.

I never lived in Kef but I spent a fair amount of time there in the earlier part of this century. I did not love it. It was ok but I would not want to live there. Especially if you were confined to the base.

 

[Ken King]

LEO fed retirement...

2.5% per year...30 years.....75%

16 hour a week fed job while in high school 2.5% per year.....2 years.....5%

thats 80%......then if you have a cache of S/L it counts toward more service when computing retirement, I had a bunch....thats brings you over 80% +

not unusual for those receiving COLA's every year to eventually equal 100% of what they earned working..

I have a friend that has a similar retirement that works at a golf course 8 months a year and collects unemployment for 4 months every year..on top of this retirement I have...

I understand why people get mad......

You're still wrong as CSRS is capped at 80% by law and you can't get anything greater.

Special retirement rules for LEO/firefighter/nuclear material couriers/Supreme Court Police/Capitol Police are that for your first 20 years of LEO service you get 2.5% per year and all remaining service (including unused sick leave) is calculated at 2% per year.

So based on your claimed years of service you would get 50% for your first 20 years, 26.6 % for your remaining 13.3 years (10.8 LEO and 2.5 in the post office) and then whatever your sick leave was (which for 33.3 years could be no greater than an adjustment of 1.2 years if you never used a single hour of sick leave in your career) for nothing greater than an additional 2.4%. That still leaves you below 80%, damn close and a great retirement, but not over the legal maximum set by law.