Calculating exactly how much money a retired Army officer gets is a two-step process. There are two ways to determine how to figure retirement pay: Final Pay is used if an officer entered the service on or before September 8, 1980, the basis is the final rate of basic pay he received ...
JROTC Instructors are assured of earning a minimum instructor pay set by the U.S. Department of Defense. It is equivalent to the difference between their retirement pay and the basic pay plus allowances -- such as housing, food and clothing -- they would receive if they are on active duty...
Still, it is critical to understand just how incredibly valuable an active duty military pension can be asan E-7 pension can be worth around $1.4 million at the time of retirement and an O-5 pension could be worth as much as $2 million![calculations above used 2017 pay tables valuing th...
How much is CRDP pay? The CRDP program began in 2004 and was rolled out over ten years to prevent a sudden increase to the national budget. Most military members who retired between 2004 and 2014 had their military retirement pay increased by 10% each year until reaching full military ...
Sadly, if you have private loans, there aren't any specific ways to get student loan forgiveness. Private student loans act much more like a car loan or mortgage - in that you pay your amount and don't have any special programs with your loan. ...
U.S. Armed Forces retirement pay Survivor Benefit Plan (SBP) payments Retired or retainer pay from the National Guard or Reserve Forces It’s important to note that this exclusion is only applicable to military retirees who meet the age requirement and receive retirement income from eligible milit...
9 Tips to Balance Your Life as a Working Mom When it feels like work and family responsibilities are all too much, it’s easy to get overwhelmed. Here are nine ways to balance your life as a working mom and achieve your goals. Rachel Cruze...
If you have to buy a smart new suit for your paralegal job or uniforms for your National Guard duties, it might seem these are obvious work expenses and valid tax deductions. Not necessarily, according to the Internal Revenue Service (IRS). Work clothes
National Guard members:Generally,Youmight qualify for a VA loan if you’ve had at least 90 days of non-training active-duty service, or were honorably discharged or retired after six creditable years in the National Guard.8 Reserve members:Reservistsmay qualify after at least 90 days of non...
Take a qualified reservist distribution—a distribution made from a retirement account to a military reservist or member of the National Guard called to active duty If you're taking an early withdrawal from an employer-sponsored plan, you avoid the penalty if you're at least 55 years old when...