Post by: 280plus on July 24, 2007, 01:06:03 AM
Week of July 23, 2007
Retiring military personnel - who have had due 30 years of service or more - will no longer have their retirement pay capped at 75 percent of base pay thanks to changes in the National Defense Authorization Act for Fiscal Year 2007. For example, a member who served 32 years will receive 80 percent of their retired pay base and a member who has served 42 years will receive 105 percent of their retired pay base. More detail about the new retirement pay schedule is available from the Defense Finance and Accounting Service
Post by: Leatherneck on July 24, 2007, 02:24:03 AM
TC
Post by: Moondoggie on July 24, 2007, 05:09:55 AM
They're the only ones who get to serve past the 30 year mark...for the most part.
This will encourge some folks to stay around longer, which will effect (slowdown) promotions down the line.
Post by: Leatherneck on July 24, 2007, 07:30:21 AM
TC
Post by: Gewehr98 on July 24, 2007, 09:16:38 AM
Post by: SomeKid on July 24, 2007, 10:49:28 AM
Post by: Balog on July 24, 2007, 06:15:06 PM
I thought this was about concurrent receipt of retirement and disability pay. Now that's a change that needs made.
Post by: Gewehr98 on July 24, 2007, 07:14:25 PM
Only problem is, it has to be combat-related, for now, and is categorized as Combat Related Special Compensation. That's what I have in the works for my own disability rating:
http://www.military.com/benefits/military-pay/special-pay/combat-related-special-compensation
But there's a move afoot to swing non-combat disability pay out of the pension offset trap, too. It started changing in 2004, but only for a small category of qualified disabled vets, with 50% or higher disability ratings:
http://www.military.com/benefits/military-pay/retired-pay/retired-concurrent-receipt-overview
I just sent off the paperwork to have part of my disability added to my pension, vs. being siphoned off into a separate VA payment as an offset. Luckily, I had the combat records to include in the package.
There was a law passed in the late 1800s that precluded disability income from being received concurrently with military pay, in an effort to reduce what was considered double-dipping by Civil War vets. Military retirement benefits were instituted in 1861, and within 30 years Congress banned the receipt of both a military retirement and disability compensation. Their justification was that a military pension was compensation enough for any disabilities incurred during the individual's term of service. That stayed in effect until 2004, see above.