Question--what percentage of salary is a military pension and when is one eligible?

[mistertrickster]

Can one get Social Security AND a military pension at the same time?

Just wondering . . .

[Jackpine Radical]

1. I think it's 50% at 20

Used to be 67% @ 30; that may have increased. And yes they can collect SS--hell, they paid into it. But they have to wait until 62 for reduced benefits or 66 (with future increases in age scheduled) for full bennies like anyone else retiring.

And as someone who put in my 2 years, 1 in Vietnam, I say they earn every bit of it. There is nobody retiring today who hasn't been in Iraq &/or Afghanistan. I don't support those wars, just as I didn't agree with Vietnam, but I support the poor bastards who went to those places. No cop, no fireman, gets the constant exposure to terror and the possibility of death that a soldier faces every day in hostile territory.

[mistertrickster]

2. Coincidentally, another thread is discussing this . . . didn't see it before.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=9246337&mesg_id=9246337

[ThomWV]

6. I thoght the 30-year folks got more, but 50% @ 20 years is what I recall

I was thinking the ones that suck it out to 30 years got something more like 90%, but I really don't know. I enlisted for 4 and did 3 in country and feel the same way you do about the lifers.

[Jackpine Radical]

7. I guess it's 75% @ 30.

Maybe they raised it since I knew anything about it. Or maybe my memory is going to hell.

Whatever.

If they were to cut pensions, they would destroy the military. It is one DAMN hard life. Nobody gets out without SOME major problem-- PTSD, alcoholism, Gulf War Syndrome, Agent Orange, whatever.

[hardtravelin]

3. It depends.

Active duty pensions are 50% of base pay at 20 years. Each year served past twenty is an additional an additional 2.5%. How long you can stay for varies and is based on rank, regulations, etc.

For Guard and Reserve, the rules are a bit different. You do have to wait until a certain age to start drawing your pension. This has changed recently if the Soldier deployed to combat.

Google is your friend. http://www.military.com/benefits/military-pay/retired-pay/military-retirement-system

You do also draw SS#. We pay into it our entire career-shame to not receive the benefit.

[stevenleser]

4. Some answers

At 20 years, you get 50% of salary. You get more of a percentage if you work more years. I think its 5% more for every two years of service.

In addition, the retirement pay, just like regular military pay, gets variable COLA's (Cost of living adjustments) every year.

Yes, you get Social Security subject to the same issues a working person is subject.

[mistertrickster]

5. Thanks for the good info . . . I think they deserve it. Just wanted to know the specifics. nt