Q:

What is the retirement pay for a retired Air Force colonel in 2014?

A:

Quick Answer

The pay for a retired Air Force colonel with 30 years of service ranges from an accumulative savings of $100,000 to $1.65 million, according to the Office of the Secretary of Defense. The amount received is dependent upon age of retirement and type of retirement plan selected.

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Full Answer

As of 2015, the High-3 year system and the REDUX retirement system are the two options available, with the former resulting in a slightly higher monthly pay. The REDUX plan offers a $30,000 Career Status Bonus after 15 years of service. The High-3 option allots up to 75% of the monthly pay while on active duty as the monthly retirement amount.

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