The market return data used to generate the illustration is hypothetical and intended to provide you with a general idea of how an asset mix you selected might perform over time. The information estimates potential growth of your indicated assets and contributions over the time frame specified. However, the information generated by the calculator is developed by Merrill to estimate how current savings and estimated future contributions may help to meet estimated income in retirement. The Personal Retirement Calculator is provided by one or more third party service providers. Results may vary with each use and over time.
IMPORTANT: The projections or other information generated by the Personal Retirement Calculator regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. The results should not be relied upon nor should they be deemed as investment advice. Read more about disability retirement on the OSD website.The results provided by the Personal Retirement Calculator (PRC) are intended for illustrative purposes only and accuracy is not guaranteed. But if you’d like to choose the other method, please send DFAS your request in writing. If you are on the Temporary Disability Retired List, the minimum multiplier is 50 percent while on the TDRL.ĭFAS uses the method that results in the largest payment.
#RETIREMENT CALCULATOR FULL#
If you retired under CSB/REDUX, your retired pay multiplier will be reduced by 1 percent for each full year.
Read more about reserve retirement on the OSD website. Reserve service is “converted” to active service by dividing retirement points by 360.ħ200 points divided by 360 = 20 years of active duty service Read more about active duty retirement on the OSD website. Each year of active duty service is worth 2.5 percent toward your service percent multiplier.Ī retiree with 20 years of service would have a service percent multiplier of 50 percent: The longer you stay on active duty, the higher your retirement pay. If you served less than three years, your base will be the average monthly active duty basic pay during your period of service. High-3: If you entered active or reserve military service after September 7, 1980, your retired pay base is the average of the highest 36 months of basic pay. Your gross retired pay is rounded down to the nearest dollar.įinal Pay: If you entered active or reserve military service before September 8, 1980, your retired pay will be based on your final basic pay. Factors such as the year you entered service and your retirement type also affect your pay.Īll of the retirement plans determine your monthly pay by multiplying your retired pay base by a service percentage: The amount generally is based on your length of service or your disability percentage. The Department of Defense uses a multi-step formula to compute your retired pay. The formulas used to calculate retired pay are complex and differ depending on individual circumstances. Your monthly pay may differ from the calculator’s estimate.
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