Retirement Decision Point: Military Career Status Bonus

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.

For more comparisons of retirement plans, see this overview of the military retirement system. You can also learn more about your military retirement options.

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Money Matters


Paycheck Chronicles

15 October 2015 Military Pay

Note:  Including this payday, there are just four military paydays until Christmas.  Plan accordingly! Payday is always a hot topic here at The Paycheck Chronicles, and this pay period is no different.  The next regular, active duty pay day is Thursday, 15 October 2015.  You will hear your friends, neighbors and workmates talking about receiving […]

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