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BONUSES & RETIREMENT
Reenlistment/Extension Bonus
Paid Lump Sum: $10,000/3yr extension (can be combined with SLRP & GI Bill Kicker)
Eligibility Requirements: DMOSQ, pay grades E-3 through E-7, no greater than 13 years and 1-month TIS on contract start date. Payment is processed lump sum upon contract start date.
Non-regular Retirement (traditional retirement)
Enlisted personnel and Officers with 20 or more years of qualifying service are eligible for non-regular retired pay. Soldiers must request to retire and provide a desired effective date of retirement. Soldiers must elect to be transferred to the Retired Reserve or Individual Ready Reserve. Retirement benefits and pay start at age 60. (Note: pay can be received sooner if eligible under the Reduced Age Retirement criteria.)
Non-traditional (National Guard) Retirement
Twenty Good Years (non-regular retirement) monthly payments that begin at age 60. You can start drawing retirement funds early by completing overseas deployments.
An enlisted member who retired after 20 years at the pay level of E-7 could expect to receive about $2,400 a month for retirement.
Calculate your benefits at https://myarmybenefits.us.army.mil.
Blended Retirement
This gives you automatic one percent and up to five percent DOD matching contributions to your Thrift Savings Plan (TSP), a defined contribution retirement savings and investment plan that offers savings and tax benefits similar to 401(k) or similar plans offered by private corporations. Continuation pay option is a direct cash payout, like a bonus, available to Service members enrolled in the Blended Retirement System (BRS). myarmybenefits.us.army.mil/
Free Money!
Automatic one percent and up to four percent DOD matching contributions to your Thrift Savings Plan (TSP)
Continuation Pay
8-12 years of service
.5-6 times active duty base pay
CAN BE combined with other incentives