Music hello everyone, DJ here. Let's talk about a skill that everyone in the Coast Guard Reserve should have. In addition to being able to read your leave and earnings statement or LES, everyone should be able to understand their retirement point statement as well. Don't worry, this will not be a very in-depth episode. It's just going to be the basics. But why, DJ, you may ask? I'm just going to be in the Coast Guard Reserve for a few years and then I'm getting out. Well, this statement tells you more than just what you'll make if you stick around for 20 years and earn a monthly pension. It also tells you if you are eligible for other service-based benefits as well. There will be a separate episode about those types of benefits later on. For now, let's focus on the retirement and pension side of things. Let me say from the outset that this episode will be much easier to understand if you have your own point statement with you, as in in front of you, while I'm talking about it. If you do not have one, please ask your full-time staff at your unit for a copy, or you should be able to pull a copy of the statement yourself, either from your electronic personnel record or from the Direct Access website. As soon as I am able, I will post instructions on how to do this in the resources section of this episode. You will need a Common Access Card or CAC to access the Direct Access site, by the way. Anyway, let's move on. The points statement for the Coast Guard Reserve is called a Reserve Point Statement. Pretty simple. This is perhaps one of the simpler point statements of the reserve components. It displays your retirement...
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Coast guard retirement pay chart Form: What You Should Know
Serve on a military or civilian service panel. Service-wide Review Military Pensions Create, implement, and administer DoD policy and procedures for all phases of the Military Personnel Retirement System. Assist the Secretary of the Navy with the modernization of the Military Personnel Pension System. Coast Guard Benefits Comfy to sit in? Find out more about Military/Veterans Benefits Coast Guard Pension Pay Comfy to sit in? Find out more about military pension Pay and Equity Retirement Service-wide Review Pay and Pensions Coast Guard Disability Review Coast Guard Social Security Disability Review Comfy to sit in? Find out more about Social Security and Disability retirement benefits Coast Guard Retirement Pay Military-Related Formulas This guide explains the different formulas used to calculate Military Pay and The military basic pay formula is similar to the civilian one except that certain adjustments are made. The DoD's Military Basic Pay Formula is as follows Total Service Pay Rate — Base pay plus any additional pay that is not basic pay. For example, pay supplements, special pay and allowances, incentive pay, and bonus pay. Total Pay Rate — base pay plus pay in lieu of time or time in lieu of pay allowances (waivers). The average of both the base pay plus any pay in lieu of time and pay in lieu. However, because a part of this pay is a credit against the total military pay formula, these two rates are not the same. For example, the base pay plus part of any pay in lieu will not be as much when factoring in an incentive bonus. Pay Period Pay — Base pay only times 1.5 percent for calendar days, 1 percent for Sundays, and all other months. Retirement Pay Formula — average of both the base pay, the military salary indexing factor (MSF) and time-in-grade (TRIG) factors. This is the only “average” formula that can be used to determine the retirement pay rate. It includes a separate “time-in-grade” factor so that base pay only can equal TRIG. Basic Pay Formula — base pay plus pay and allowances. Retirement Pay Formula — base pay plus pay and allowances plus retirement pay factor (TRIG) for all years, but only pays when the TRIG rating is highest.
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