If you have been in the military for more than ten years, you are likely looking at sticking around for retirement. If so, you have a retirement decision to make prior to reaching your fifteenth year in service. Many servicemembers choose to accept the so-called "Redux" or Career Status Bonus that offers $30K up front and a significantly reduced retirement payment later. If you entered service after August 1986, you have the option to choose either the High 36 retirement system, or the Career Status Bonus/REDUX (CSB) retirement system. If you decline to make a choice you will automatically receive the High 36 retirement plan.This decision is not to be taken lightly. Watch the following USAA video featuring June Walbert to learn more about this important decision.
Someday, you’ll leave the military. Whether you do one term or stay until retirement, the time to start thinking about leaving the service is when you enter the military. While veterans report issues with many different aspects of separation, I’m primarily concerned about financial and employment challenges. There are many things you can do […]