Q:

If you retire from the military in 2014, how much is the retirement pay?

A:

Quick Answer

Military retirement pay depends on several factors: the length of a soldier's service, his disability percentage, the year he entered service and his retirement type. The Defense Finance and Accounting Service and U.S. Military website provide retirement pay estimation calculators where servicemen and women can determine their individual pay base.

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Full Answer

Retirement pay calculators may be inaccurate due to the high complexity and highly individualized nature of retirement pay formulas. Particular entry date also changes the retirement system that service members enter into after retirement. Service members who entered service before September 1980 are eligible for the final pay system, whereas those who entered service between September 1980 and 1986 are eligible for the High 36 system. Everyone who entered service after 1986 must choose between the High 36 and the Career Status Bonus systems.

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