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.
Continue ReadingFull 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.
Learn more about SalariesRelated Questions
-
Q:
What is the pay for different Marine Corps ranks as of 2015?
A: The pay ranks for Marine Corps personnel varies based on the individual's pay grade and years of service, according to Military Factory. For example, a gra... Full Answer >Filed Under: -
Q:
What is the military wage scale?
A: The military wage scale shows the base monthly salary for U.S. military servicemembers based on pay grade and years of service. Each year the U.S. Departme... Full Answer >Filed Under: -
Q:
How do you calculate retirement pay for the Navy Reserve?
A: To calculate retirement pay, the years of equivalent service are multiplied by 2.5 percent and this figure is multiplied by the average of the highest 36 m... Full Answer >Filed Under: -
Q:
How long must you serve to receive military retirement pay?
A: A minimum of 20 years of service is generally required to receive military retirement pay. The earliest a person can retire from active duty is at 37 years... Full Answer >Filed Under:
You May Also Like
-
Q:
What are some ways to have fun in retirement on a fixed income?
-
Q:
What does "FIT" stand for on my pay stub?
-
Q:
What are some example salaries of Air Force personnel?
-
Q:
What is the maximum contribution an employee can make to a 401(k) retirement plan?
-
Q:
What is the average salary of a forensic scientist?
-
Q:
What is the pay scale for officers in the U.S. military?
