Preparing for your separation or retirement from the military with a special needs family member may require additional consideration. Develop a plan using available support, tools and resources.
It’s never too early to start saving for retirement. The best way to get started is the Thrift Savings Plan, a retirement savings plan for federal employees and members of the uniformed services that gives you two ways to sock away some cash.
The military recently adopted a new retirement plan called the Blended Retirement System which extends benefits to a lot more service members than the old plan. The good news: the BRS can put your service member on the path to long-term financial security. And, the more a service member contributes to their own retirement, the more the Department of Defense matches it.
Military members who serve their country as part of the National Guard or a branch’s reserve component may qualify for retirement benefits — including a Blended Retirement System pension and Thrift Savings Plan retirement payments. You can estimate what your potential retirement payments may be with the official BRS military pay calculator.
Retirement can feel like a long way away, especially if you’ve only just started your military career. Still, what you save today will grow significantly by the time you’re ready to retire —even if it’s only a little bit each month.
You can get a solid estimate in less than five minutes using free retirement pension calculators for both the High-36 and Final Pay legacy retirement systems offered by the Department of Defense. Here’s how to use them – and what you can do to adjust the outcomes to fund your future retirement lifestyle.
The Uniformed Services Former Spouse Protection Act is a federal law that provides certain benefits to former spouses of military members.
Military OneSource helps service members and their families be the best guardians of their country, team and family by helping them find information, manage challenges and connect with the military community.
The Survivor Benefit Plan, or SRB, allows retired service members to allocate a portion of their retired pay to a spouse or other eligible beneficiary after their death. Every retiring service member with an eligible spouse or child receives automatic enrollment in the Survivor Benefit Plan at the maximum level
You have a unique vision of what you want the future to look like. Maybe you want to buy a home, send your children to college or you’re looking toward retirement. When it comes to planning for your “some-day” expenses, they become a lot more attainable if you start planning and saving early.
Transitioning Veterans is a free Military OneSource specialty consultation designed specifically for service members returning to civilian life. Whether you are 12 months out from retirement or separation or within 365 days of your last day of service, you are eligible for this personalized transition support. Through a series of sessions, a professionally trained consultant will help you identify goals and navigate benefits and resources.
Maybe you’re just ending your first tour of duty. Maybe you’ve fulfilled your obligation to your country. Now, you’re at a crossroads—re-enlist, reserves, transition out? How do you know you’re making the right call?
Hanging up your uniform and transitioning to civilian life can be both exciting and confusing. It may come with a lot of questions. Have you figured out your civilian career? Found a health care plan yet? Secured a new home base?
You don’t need to tackle issues like mounting debt or saving for college or retirement alone; Military OneSource financial counselors are available in-person, over the phone and video. Financial counseling gives you an opportunity to talk to a trained professional – one who is familiar with the issues that affect service members – about your questions and receive referrals to services and programs that meet your specific needs. Rest assured, Military OneSource financial counselors will not push products or plans on you.
One of the most valuable assets to service members is their military ID. The Department of Defense issues distinct identification cards to uniformed service members, their family members and other eligible individuals to serve as proof of the cardholder’s identity and Department of Defense affiliation.
The Department of Defense and the Department of Veterans Affairs have simplified and streamlined the medical evaluation process for service members and their families through the creation of the Integrated Disability Evaluation System. Additionally, your Physical Evaluation Board liaison officer acts as your main intermediary during the process, providing valuable guidance and serving as a patient advocate.
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