Sagging Economy Sinks Navy Bonuses

[unhappycamper]

Sagging Economy Sinks Navy Bonuses
March 16, 2009
Military.com|by Bryan Mitchell

A shrinking Navy, the flagging economy and high retention are driving down bonuses for Sailors in a move that may signal an end to the era of plush bonuses to remain in uniform.

But some Sailors can still act fast and be rewarded with a soon-to-expire more lucrative bonus.

The new diminished reenlistment bonus will go into effect on May 1 and will impact the vast majority of Sailors eligible for the extra cash. Any Sailor in non-nuclear position must reenlist by April 30 while nuclear fields have until May 10 receive the previous bonus.

All told, bonuses for approximately 69 job fields increased while 446 decreased.

The Navy is also tightening up its rules on when Sailors can reenlist and receive the bonus, meaning a Sailor must finish their paperwork at least 35 days in advance of their reenlistment date, according to Navy Administrative message 075/09.


Rest of article at: http://www.military.com/news/article/March-2009/sagging-economy-sinks-navy-bonuses.html?col=1186032310810

[BOSSHOG]

1. Interesting juxtaposition to AIG

[Captain Hilts]

2. The USN is really small now, so it's not "too big to fail." nt