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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Resources

Financial Advice Q&A: What do I do with my old retirement plan? Read More Read More
News Center - 2014 Top Communities for Military Families - USAA's top pics for neighborhoods near military installations. Read More Read More
Best Place for Veterans - When it's time to move on from your military career, you'll be faced with choices and more choices. Likely at the top of your list: where to live. Read More Read More
Oops! I Forgot to Save for Retirement - Regardless of your age or income, it's not too late to start retirement planning and move toward a more comfortable future. Read More Read More

Tools and Calculators

Is Your Retirement on Track? Calculate NowHow Long Will Your Savings Last? Calculate Now
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