How much is your military retirement check?
Thursday, January 5th, 2012 at
6:20 pm
The DFAS calculator is a waste. I’m E-7 retiring after 24 yrs and can’t get a straight answer on $$$ after all the VGLI, SBP, etc, etc, #$#!@! deductions.
Cat, thanks for that, I’ve read a bunch but was hoping for a real-life experience
LTC, that is the one I’m talking about, and if you’ve ever got a straight answer from your finance officer you’re doing better than me.
Filed under: Retirement Planning
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Have you gone through TAP yet? You don’t say what service you are in, but when I put in my papers to retire after 24 years, at the time of TAP, they actually made an appointment for me, sat me down, took my information (where I was retiring, current deductions, allotments, SBP, etc.) and figured out to the penny what I would be getting in my retirement check. The only thing they didn’t know was what my disability percentage was going to be to figure in. If they can’t do that for you, then find another finance officer. Retirement is an important time in your life and you need to know everything that you can before you go out the door. Honestly, you should have been doing that about a year ago to prepare, unless circumstances prevented that. BTW, I personally didn’t do the VGLI because to me it was a rip off and I already had purchased my own life insurance while I was active whose premiums were a lot less than VGLI. Additionally, I got a great civilian job while on my terminal leave that also offered my life insurance.
Edit: Don’t forget your Tricare Prime.
http://www.military.com/benefits/content/military-pay/military-retired-pay-overview.html
this link may help!
Directorul Academiei Romane
My suggestion would be to visit ACAP and get an answer on how much your deductions will be. I know the SBP can be in varying amounts. A finance officer should be able to tell you what your VGLI deduction will be. And the other deductions should all be your regular tax items. If you are in a state that doesn’t tax retired pay you can cross that off.
I assume that when you say the DFAS calculator is useless you are talking about the one below. If you have a better one, send me a link! Good luck in retirement.
not enough for all I had to kill to get it
Have you CALLED the Navy retirement pay center? Phone number is: 800-321-1080. They’ve always been helpful to me.
(USN retired 1965-85)