First of all, you should take into consideration that generally there are two things on the basis of which a person’s retired military pay is computed, namely the length of military service and the percentage of disability.

But now I want to refer to the computation of the retired military pay on the basis of one’s length of service in the military force. In this context, there are military retirement calculators that determine the amount of the retired military pay. There a three calculators and each of them have a specific formula.

So, if you are retiring from the military based on the length of service you may elect to have your retired pay computed by either the Final Pay Military Retirement Calculator, the High-36 Retirement Calculator or the CSB/REDUX Retirement Calculator.

The logical question is which one suits you better? Well, you have to keep in mind that your choice regarding the military retirement calculator first of all will be determined by the date you actually started your military service.

Final Pay Military Retirement Calculator may be used in order to compute the retired military pay for those entering military service before September, 8, 1980. This military retirement calculator computes the retirement pay under the Final Pay retirement system.

Also this military retirement calculator gives you the possibility to create different tables and charts that would reflect your personal situation. The main elements used by this retirement system are the length of the military service, retirement grade and age. However, this military retirement calculator takes into account for example the inflation rate.

High-36 Military Retirement Calculator may be used in order to compute the retired military pay for those who entered service between September 8, 1980 and July 31, 1986.

The High-36 Month Average retirement system is the system which belongs to this military retirement calculator. As the first military retirement calculator this one also gives you the possibility to draw up some tables and charts that would reflect your own situation. The elements included into the system represent the length of service, age and the retirement grade. And it also takes into consideration the economic changes such as for example inflation.

And finally, CSB/REDUX Calculator may be used in order to compute the retired military pay only for members who entered military service after July 31, 1986.

The CSB/REDUX retirement system represents the system through which your military retired pay is determined. This military retirement calculator is for those persons who have elected CSB/REDUX.

As the previous two this calculator gives you the possibility to create charts and tables that would reflect your personal situation. The elements of this system comprise except the length of service, age and the retirement grade also the value of the CSB (Career Status Bonus), which represents $ 30,000. The economic changes are taken into account as well.

Actually, if you are still confused you can do a little bit more research on the comparison of these three military retirement calculators.

If you are thinking of retiring from the military service and becoming a civilian again you should know that this will be a big change for you. So, before it happens you should do your homework. Make sure that you clearly know which are the benefits that you are entitled to receive once you hand up your military uniform. It takes some time to work towards a secure military retirement.

Do you know which type of military retirement calculator you should choose? There are three types of military retirement calculators. Each of them depends on the date the person entered the military service. The most important thing is to remember that all three types of military retirement calculators request a minimum of 20 years of creditable military service in order to retire from the military force. Another common thing which all three types of calculator have is that the retired pay is calculated using the base pay.

If you retired the military service from September 8 1980 onwards the most common used type of military retirement calculator is High-3.

The retired pay is calculated by using a 2.5% multiplier which is applied against the average basic pay for the highest three years of service. Usually these are the last three years, unless there was a reduction in grade due to some circumstances. A Cost-of-Living Allowance is given annually. Make sure for which COLA you qualify and make sure you find out the changes that you know the changes that the recession brought in the realm of COLA. In addition, the Cost-of Living Allowance is based on the Consumer price Index.
In case you entered the active duty before September 8 1980, then you can use the Final Pay military retirement calculator. For each year of your military service you get 2.5% towards the retirement multiplier up to a maximum of 75%. A Cost-of Living Allowance is given annually. It is based upon the Consumer Price Index.

And finally if you entered the military force from August 1 1986 onwards you may elect to use the REDUX military retirement calculator. In this case the retirement multiplier varies. So, for each year of the first 20 years of your military service you get 2% towards the retirement multiplier, and each year after 20 years of your service worth 3.5%. Then the retirement multiplier is applied against the average basic pay for the highest three years of your service. A Cost-of-Living Allowance is given annually, however it is 1% below the Consumer Price Index. Actually this military retirement calculator is less favorable from the three existent.

If you are military servicemen with disabilities you should know that you, one retired, are entitled to collect both military retirement pay and any other military disability payments. So, as a person with disabilities you are entitled to a military retirement pay. In order to be able to determine how much money you will get after you retirement from military forces you should decide which retirement income plan suits you better. For this you need to use the military retirement calculator.

In this context, it is important to mention that there are three plans. Each plan has separate military retirement calculator. Remember that regardless which retirement plan covers you, you will be entitled to collect your retirement payment immediately upon retirement. In order to determine which plan covers you it is necessary to look up for your starting day with the military service. So, in case you entered the military service before September 8, 1980 then the “Final Pay” retirement plan is applicable to you. If you entered the military service between September 8, 1980 and July 31, 1986 then the “High-3” military retirement plan is applicable and finally in case you started your military service on or after August 1, 1986 you can choose between two military retirement plans, that is “High-3” or “Career Status Bonus (CSB) Redux”.

All in all there are three military retirement plans “Final Pay”, “High-3” and “Career Status Bonus (CSB) Redux”. Each of these three military retirement calculators have their own retired pay formula through which your military retired pay is calculated. So, if you use “Final Pay” retirement calculator in order to determine how much you are entitled to receive then know that your monthly basic pay times 2.5% for each year of military service. In case you are covered by the “High-3” military retirement calculator your retired pay will be calculated on the basis of the following retired pay formula, namely the average pay for highest 36 months of military service times 2.5% for each year of your service. And finally, if “CSB/Redux” military retirement calculator applies to you then your retired pay will be calculated on the basis of the average pay for highest 36 months of military service times 2% for the first 20 years of service and 3.5% for additional years of your service.

In addition, to your military retired pay you are entitled to collect the military disability compensations to which you are entitled according to relevant legislations.

People that serve at the US Army usually use very different military retirement plans than ordinary people use. To make plans for special retirement plans and achieve ideal retirement, you definitely need special military retirement calculator. Military retirement calculator is a useful tool that can greatly help you in determining details of your retirement and making important decisions that may affect the rest of your life.

The important aspect of military retirement is that the military personnel retire much earlier than usual retirees do. In other words army people can save necessary money for retiring much earlier than ordinary people can do. So after retiring from the US Army military personnel can start working elsewhere and earn salary. When making calculations with the military retirement calculator, this point should be taken into consideration to receive the accurate results.

The military retirement calculator service is usually available to the military personnel through banking institutions and credit unions that they use during their active military service. After retirement people usually use the same bank or credit union after they used during active service. Moreover these financial institutions even help their clients to plan their retirement and making right decisions.

Military people can contact their personal bankers to use military retirement calculator. Bank personnel are usually well-aware of the special status of their clients and they do their best to help them make the best choice possible. One may think that military retirement calculator is some kind of device line ordinary calculator with bunch of buttons and a display. This is not true. The military retirement calculator is usually in the form of simple Excel file with several formulas in it.

Military people are very special indeed and they also enjoy many special benefits that are unavailable to others. For instance, a typical person serving at the US Army does not have a place of permanent residence. After retirement he / she has to choose a place, where he / she will spend rest of the life. In many cases military retirees choose to pick the residence near large military base or facility, where he / she may day his / her shopping and save large sums of money due to subsidized prices in the shop. Also military bases offer military retirees car repair, grocery and gardening services that many retirees find very attractive and beneficial. When making calculations with military retirement calculator one should take into consideration these factors.

Military retirement calculator is an online tool that helps military people to calculate the basic parameters of their retirement. Military people usually have significantly different plans than ordinary people; therefore they need special military retirement calculator to make planning for the retirement. What makes military personnel special and so different from others is that they usually retire much earlier than ordinary people and become eligible to receiving pension sooner than others.

After retirement military men are offered to choose among three retirement plans. To be more specific based on the date of joining military service it is determined between which retirement plans can individual choose. The joining date determines if an individual has option to choose among different pension plans, or he/she has to accept certain plan without alternatives. It is noteworthy that retirement plans are available to those individuals, who have served on active duty for more than 20 years.

There are three types of retirement systems and therefore three types of military retirement calculators:

- Final Pay: this plan is assigned to individuals that started their service in the military before September 8, 1980. In this case what you need to enter in military retirement calculator are expected retirement grade, number years served at the military, individual’s age. Consequently the tool gives back projected retirement pay. This plan may also take into consideration the inflation, tax rate and other variables;

- High-3 Year Average: this plan is applicable to those who started their service between the period September 8, 1980 – August 1, 1986 or after August 1, 1986 (without requesting “career status bonus”. As in the case of Final Pay plan additional variables can be added, such as the inflation and the tax rate;

- Redux (Career Status Bonus): this plan is available to those individuals that entered into service after July 31, 1986. This plan offers career status bonus and decreased pension. In this case people have option to choose to accept High-3 Year Average plan or Redux plan. Here military retirement calculator plays a big role showing which plan is more beneficial.

Actual pension paid under Final Pay and High 3 Year Average plans is increased based on the consumer price index (CPI). The Redux plan is also protected from inflation, but at lower percentage than for other pension systems.

In each of these three cases different military retirement calculators are used to arrive to correct figures. In each case input variables are slightly different that makes each plan different.

The general rule is that if you are a reserve serviceman and you have accumulated a minimum of 20 credible years of service you qualify for the military retirement payment once you reach the age of 60 years. However, there is an exception introduced back in 2008 that allows those persons, who were either involved in national emergency or were deployed for war, to collect military retirement payments before the age of 60 with the condition that the deployment period started after January 28 2008.

Now how to calculate how many of so called credible years of service you accumulated? Let me remind you that only after this you will be able to know for sure if you qualify for the benefits and use the reserve military retirement calculator to find out actually the amount of those benefits. This can get confusing. What you have to remember is that one credible year of service is a year in which you accumulate at least 50 points during your retirement year. Now you can calculate the years, but do not forget also about the inactive points.

Now you can use the reserve military retirement calculator in order to estimate how much you can get per month as retired pay after you reach the age of 60 (do not forget about the exception).

The reserve military retirement calculator is based on two reserve retirement systems for those who were on active duty. These systems are the Final Basic Pay System and the High-Three System. The main difference in these two systems represents the date a person was first enrolled and became a member of the military service.

There are also several formulas through which the reserve military retirement calculator can estimate a retired pay.

So as I said above, the most important thing in determining which calculating system applies to you is your first day of enrollment. If you were enrolled and became a member of the military service before 8 September 1980 then you have to compute your pay by doing the following: multiply the amount of pay per month according to your grade at the time of your retirement by the “qualifying” years of active military service at the rate of 2.5% for each year from the whole year of service. This represents the Final Pay system. You will get 50 to 75% for 20 years of service.

If you started your service on 8 of September 1980 and 31 of July 1986 then do the following: do the same as described above but instead use the average basic pay that you have got for your highest paid 36 months.

An estimation of a retired pay per month can be done by multiplying the retirement points that you accumulated by the approximate value of a point.

So once you determined if you qualify for a retired pay and used the reserve military retirement calculator to see the amount you are entitled to, do not forget to apply for it.

Military service is quite a specific field and therefore the retirement plans of the retirees differ from those that the ordinary retirees have. The good thing about the military retirement is that military personnel can retire much earlier than normal people can do it. This can be explained very simply, military servicemen are able to save considerably faster than ordinary civilians can save. In addition, once people retire from military service in US they receive generous pensions and at the same time they have an opportunity to get a new job if they wish to do so. This is a good thing and hence when an individual serving in the US Army is planning his/her retirement, he/she must take into consideration this additional opportunity.

As stated above if a person belongs to the military then his/her retirement plan can be calculated by using a special tool called the military retirement calculator. The military calculator allows to choose parameters that will lead to ideal retirement terms. Overall, the military retirement calculator provides a detailed information so that the military retirees can make an informed choice. As a rule such kind of calculators are provided by banks and credit unions that military servicemen use during their active duty.

Usually people tend not to change their banks once they retire. In order to access a military retirement calculator a military retiree have to contact his/her bank or credit union. These financial institutions are specialized on providing services to the military retirees and they can help to plan the entire retirement plan.

At the same time, a person has the opportunity to access the military retirement calculator online. They are available on the net and one of them even on our site. Check it here.

A military retirement calculator is a powerful tool that can be very useful for those who can use it properly. It is very important to emphasize that the accuracy of the calculations highly depends on the accuracy of the inputs entered into the military retirement calculator. If all the benefits that a person is eligible for are entered then the figures will be characterized with a high accuracy. Otherwise, the military retirement calculator cannot determine by itself which are the benefits for which one is entitled to. So the golden rule is that one must be careful and enter all the benefits correctly.The benefits of the military people can be numerous. For instance, if after retirement the retiree makes the decision to have his/her permanent residence near a large military base, the base may provide for him/her some major cuts in expenses. For example, the military base may provide car repair services and gardening facilities.All these benefits has to be included when calculating the retirement plan with the military retirement calculator.

We already talked about the military retirement calculator, about its categories and the way it works. Let me briefly repeat in a descriptive way the existent types of military retirement calculators and then refer directly to the concept of the Thrift Savings Plan.

The most important thing is to remember that if you have 20 years of credible service in the military you are entitled to retire. Upon the completion of 20 years of credible service you can start thinking which military retirement calculator will better suit your situation. Overall, the choice of the specific type of military retirement calculator depends on the military retirement plan you chose and this itself depends on the day of entrance into the military service.

There are three types of military retirement calculators:

Final Pay system applies if you entered the military service before 09.08.1980. Each year of your service amounts to 2.5% towards the retirement multiplier up to a maximum of 75%. A Cost-of-Living Adjustments (COLA) will be given annually based upon the Consumer Price Index.

High-3 Year Average represents the most common category nowadays. If you entered the military service starting with 09.08.1980 you can choose this type of military retirement calculator to determine your retired pay. In addition, a Cost-of-Living Adjustments will be given annually based upon the Consumer Price Index. By the way there are some new adjustments in retired pay which are effective 12.01.2009, so you should check them out.

REDUX applies if you entered the military service starting with 08.01.1986 and if you are elected to receive the Career Status Bonus. Each year of the first 20 years of your military service amounts to 2% towards the retirement multiplier, and each year after 20 amounts to 3.5%. Then the multiplier applies in relation to the average basic pay for the highest 3 years. A Cost-of-Living Adjustments will be given annually based upon the Consumer Price Index but with 1% lower.

Thrift Savings Plan

Even from the name of the Plan it is clear that this is about savings. Indeed the Thrift Savings Plan represents a retirement saving system for servicemen of the military and the civilians whose employer is the American Government. The system is administered by a special governmental agency called The Federal Retirement Thrift Investment Board. The main goal of this system is to provide the retirees with the retirement income. In order to participate in this saving plan and consequently to benefit from it you have to contribute with a certain percentage from your basic pay. Moreover, your contributions to the Thrift Savings Plan do not affect in any way your right under law to receive the military retired pay.