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Video instructions and help with filling out and completing Coast guard reserve retirement benefits
Instructions and Help about Coast guard reserve retirement benefits
Submarines I'm starting at Dallas and the goal of this video is to shed some light on just how valuable Marine Corps retirement actually is for both active duty and the reserves we get down to the actual dollar amount what your time served is worth on paper so try to stick with me as I break it down real fast active duty retirement is pretty cut-and-dry after 20 years of service you're gonna retire at 50 percent of your base pay 30 years 75 in a nutshell the longer you overshoot that 20 year marks the higher percentage of your base pay you're gonna receive month after month so here's your typical what-if scenario after 20 years of service you retire the pay grade of e8 with a monthly retirement of 24:29 I've given the same scenario you add on an additional four years to that hypothetically promoted to the pay grade of D 9 you just increase your annual retirement an additional $14,000 another scenario after 20 years of service retiring the pay grade of O five would yield you a monthly retirement at forty one seventy eight an additional two years to that will yield you an additional sixty five hundred dollars a year these numbers are based on the 2022 pay scale and have kept up with inflation since 1949 Reserve retirement is much different because it's based on points you'll need a minimum of 50 per year to qualify for a satisfactory year the biggest difference is you start drawing retirement at age 60 or much sooner depending on how long you're mobilized for during that time period during a typical drill weekend you'll earn an average of 46 points you'll also earn credit for any kind of online correspondence or PME and then there's one per day for any time spent on active duty so here's a typical what-if scenario over a one-year period let's say for all of your drill weekends you have a combined total of 50 points then you have your annual training which is your two-week training period during the summer time and let's say you do some online correspondence on green net for an additional ten points with a combined total of 74 points let's say you averaged this over a 20-year period but let's not forget any time served on active duty bootcamp MCT and what's cool let's say you did a total of one year on top of that given the scenario if you retired at age 40 the pay grade of e9u would have generated 1314 a month by the time you're age 60 let's say you already served four years active duty prior to this or you were mobilized for four years you're paying increases by an additional nine thousand dollars a year same scenario eight years active duty as you can see your time spent on active duty there's a lot more valuable than you think so what do you find these so.