If you entered the service:
Prior to September 1980 you are eligible for the Final Pay retirement system. Between September 8th, 1980 and August 1986 you are eligible for the High 36 system. After August 1986 you are eligible 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.
clickhere to learn more about the different retirement plans that are currently available
wow you really got me going big time going round the old gray matter on this.
Lets see what I can remember here.
Hubby enlisted in 1958 and retired as a warrent officer in 1980.
He told me that his retirement check was based on Warrent pay for 10 years, then it went back to Chief status.
He could have taken the Government program and gone to college at that point but was grabbed by a head hunter for [NUS ] and offered a job at a pay scale he could not refuse.
He and this bar fly he met with no young kids lit out to travel the country as his job required him to repair old Nuclear Power stations.
All was great until the 10 years lapsed and he was now getting much less retirement----then he lost his job.
Poor fella, it must have been difficult for him, he stopped paying child support for his kids one was 14 the other going on 16.
He would have been better off staying a Chief on the subs, he had to go skimmer and the loss in his pay was to us was huge.
Once he went officer he now had to pay for his own food, he lost the extra hazards pay, and was now gone from home 9 months of the year instead of 3 months in 3 months out.
He ended up living in a trailer park and driving a school bus. He died at a very early age thinking he was a failure.
But you see he was NOT a failure, he had lived an interesting life, he went from an 18 year old on a diesel sub that had an encounter with off Taiwan when dropping off freedom fighters to becoming a teacher at Mare Island.
I really think that he over reached himself when it came time to retire, so much had changed and when I tried to speak to him about the pros and cons of his carrear decisions he and both of our family's told me I should shut the Hell up, this was for him to decide.
So I did and I feel so guilty I did not rant and rave at the man, but if I had ----it would have done no good.