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.

Connect
Get the

Money Matters

Sign-up
Newsletter
headerPaycheckChronicles

Paycheck Chronicles

Could You Find $20,000 Fast? Perspectives on Landlording

A couple of years back, the 2012 National Financial Capability Study reported that 40% of American families could not, or probably could not, come up with $2,000 within 30 days if faced with an emergency.  A recent conversation plus a couple of articles about landlording made me think about that study, and the staggering amount […]

© 2015 Military Advantage