What can one expect from military retirement pay?

Answer by  Creedr75 (18)

It depends on the years of service and grade at the retirement. Economic factors are also relevant (inlfation etc). At average you can expect at least $2,500 in the beginning and increasing 2-5% each year after.

Answer by  Fleshj (403)

Retirement pay is calculated as 50% percent of your average pay from your 3 highest paid years for 20 years service. The percentage increases 2.5% for every year over 20.

Answer by  snoopy2007200 (70)

The longer you are in the more you will get paid. If you do the full term(20 years) you will get full pay asif you were enlisted and you would get the last pay gradeyou were enlisted at. At least thats how they do it in the Coast Guard and Navy I would think it's the same for all branches!

Answer by  Gunrunner (561)

Military retirement pay was traditionally 2.5% of your retiring base pay multiplied by number of years served, with 20 years being the minimum. This was one of several different methods used. Federal and state income tax's are withheld, but Social Security & Medicare aren't. You usually receive the same cost-of-living raise in January as Social Security recipients.

Answer by  patti (29325)

It depends very much on the length of service, the rank at retirement and the particular branch of the military. When separating, the service person can get information about the various aspects of retirement.