TITLE

Balancing your nest eggs

AUTHOR(S)
Roberts, Chuck
PUB. DATE
July 2003
SOURCE
Airman;Jul2003, Vol. 47 Issue 7, p8
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article states that airmen who joined the U.S. Air Force on or after August 1, 1986, must eventually face the $30,000 question before retiring. More than 22,000 have already answered the question for themselves. Between 14.5 and 15 years of service, all members must decide whether to take a $30,000 career status bonus and retire under the Military Retirement Reform Act of 1986-- better known as REDUX--plan at 40 percent of their last pay grade, or retire under the High- 3 plan that provides 50 percent of the average basic pay for the highest 36 months of the individual's basic pay. The Military Retirement Reform Act of 1986 created the REDUX retirement plan, which applied to all members who joined on or after August 1, 1986. Under the plan, retired service members would receive only 40 percent of their last pay grade after 20 years, compared with 50 percent under previous retirement plans.
ACCESSION #
18265374

 

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