New Military Retirement Plan – Proposed Benefits Changes

The Senate Armed Services Committee recently passed the FY 2016 National Defense Authorization Act, which features several major proposals, including military retirement reform, personnel reform, and headquarters and management reform. One of the primary goals of the 2016 NDAA is to find areas where the government can cut back and save money. This will come […]

Active Duty Military Retirement Benefits (Podcast 010)

http://traffic.libsyn.com/militarywallet/TMW_010_Active_Duty_Retirement_Benefits.mp3 Podcast: Play in new window | Download Subscribe: iTunes | Android | RSS Today’s podcast covers active duty military retirement benefits. We cover a wide range of topics in this interview with Doug Nordman, military retiree and author of The Military Guide to Financial Independence and Retirement. As a military retiree, Doug has a great […]

Military Forcing Some Officers to Retire with Enlisted Pay

Update: Rep. Glenn Thompson (R-Penn.) is stepping up to introduce the Proudly Restoring Officers of Prior Enlistment Retirement (PROPER) Act. The bill would modify existing discharge authority to allow military officers appointed from the enlisted ranks with at least 20 years of service to retire as an officer with only four years of service as […]

2015 Military Retirement Pay COLA – 1.7% Increase

Military retirement pay is based on a percentage of your the base pay you received prior to retiring from active duty, or from the Guard or Reserves. One of the benefits that makes military retirement pay so valuable is the built-in annual Cost of Living Adjustment (COLA). COLA is pegged to the Consumer Price Index […]

Podcast 002 – Financial Independence and Early Retirement on a Military Salary. An Interview with Doug Nordman

http://traffic.libsyn.com/militarywallet/TMW_002_Financial_Independence_Early_Retirement.mp3 Podcast: Play in new window | Download Subscribe: iTunes | Android | RSS Retirement. It means many different things to different people. To some it means working until you are 65, then hoping you have enough money put away to live the rest of your life in relative comfort. Others are able to retire […]

Concurrent Receipt Rules – Concurrent Retirement Disability Pay (CRDP)

Concurrent Retirement and Disability Pay (CRDP), also known as Concurrent Receipt, allows military retirees to receive both a full military retirement pension and full VA Disability compensation benefits, provided they meet eligibility requirements (listed below). The CRDP program, which began on January 1, 2004, replaces the VA disability offset, which was previously required by law […]

National Guard and Reserve Early Retirement Age

Update – 2015 National Defense Authorization Act. The 2015 NDAA changed the rules on early retirement for Guard & Reserves. Please see below for update. Members of the National Guard, Air National Guard and military Reserves who have met the 20 year service requirement are generally eligible for receiving retirement benefits at age 60. However, […]