Iowa National Guard’s Post

Aim High…again…please - subject to a permanent change of station. - ineligible to extend their service, or to sign up for the Skillbridge job-transition program. - Retirement benefits will seize the day before a retiree reactivates They forgot to include your VA disability payments will cease. That’s a net loss of over $4000 a month if your are 100% disabled. This would be more attractive if; - Duty station of choice (PCS optional) - Salary will be based upon (last base pay in service + current VA disability pay (equivalent AND tax free) + monthly retirement salary) - Skillbridge optional (you gave the service a chance…again…they should take care of their service members…again). - eligible for service extension In the civilian market if a company has a critical skill gap, it’s the potential candidate/new employee who has the advantage with the ability to negotiate terms, salaries, and bonuses. I don’t see a lot of advantages that this program offers. I would imagine those that are willing to re-enter service based upon intrinsic motivatal factors are few.

Wondering about how military retirement pay is taxed at the state level and using that information to make a decision on where to retire is a very important step in the military to civilian transition. Read the article here ➡️ https://lnkd.in/dvb24nDC #MilitaryTransition #MilitaryRetirement #RetiredMilitary

Attention Army officers, junior NCOs, and warrants who are nearing 8 years of service -- Beginning in January 2025, the Army will begin adjust Blended Retirement Systems Continuation Pay (CP) based on MOS/career-field specific fill rates. What does this mean? That your continuation pay, which is currently paid out as 2.5x your monthly base pay, might now be anywhere from 2.5x your monthly base pay to *11x your monthly base pay*! 😮 This multiplier will be adjusted annually based on the fill rate for MAJs, CW3s, or NCOs in your branch/MOS. The catch is that you HAVE to take it during year 8 of service -- not at 9 years 1 day, not at 11 years 10 month (<- when I took it)...it will only be available at this potentially higher rate during your 8th year of service. By 2026, 100% of the force that is hitting the 8-year mark will be on Blended Retirement (based on the policy that anyone entering service after 1JAN18 was placed on Blended Retirement). As someone who opted in to BRS mid-career, I've found there are not many leaders who were aware of the CP incentive, or how to access it. It was a new program that only impacted the small pool of us who opted in. I also know a handful of people who missed their window to apply, because there was so little information available. Yes, it's a personal responsibility...but it also wasn't well-advertised for a brand-new program/opportunity. So, here's to raising awareness as we approach the tipping point where ALL our mid-careerists should be considering their CP!

"There are many aspects to post-retirement. And I believe the first thing, it starts with a plan to understand where the journey is going to take you in your post-retirement life" - Brian Luther https://lnkd.in/gd5z4SfS #retirement #navy #federaldrivewithtomtemin

I am not a retirement expert but I have recently completed my transition to "old, retired Army guy". I have learned so much in the past year to help my transition and a bunch of connections have reached out and ask me what I learned and what I would do differently. Thanks to Eric Cullipher I decided to write my ideas down and share them with my network. I will try my best to post a few of these thoughts throughout the week. I started with my top ten retirement thoughts, but we will see how much that list grows over the weeks. 1. Start your VA BDD ASAP - If you don’t have your medical records yet, go get them NOW. It took me over 8 weeks to get my records, and even longer to request additional ones that were missing. Start getting your medical records at least 8 months out to be ready to submit the BDD as early as possible (at the 180 day mark). - Do this even if you have medical appointments planned. If you are worried about the records being incomplete due to new visits, you can request your records for individual visits once they are complete and add it to your bulk file as needed. - Having the majority of your records is the most important thing. - Read your records and work with a VSO to make sure every ailment in there is in your claim (you can update this later if needed, but getting it right he first time is a good practice). - IMO the BDD program is great and if you finish it you should have your rating ASAP. I requested my records 6 months out, received them and started my BDD 4 months out, retired on 01APR, had my rating by 14APR, and my first check hit before MAY 24 was over. This could be you if you prep correctly! - Learn more about BDD here: https://lnkd.in/eeWvqeqp - Find a VSO or accredited VA rep: https://lnkd.in/eqnWcmRY #military #veterans #militaryretirement #retirement #militarytransition #transition #VAclaim #VA #BDD

Military personnel and spouses! Are you at the stage where you are preparing for or thinking about military retirement? Do you... • Think about how your finances will look once you retire? • Wonder how much you “need” to make as a civilian to maintain your standard of living? • Have a firm understanding of what benefits you lose, how some benefits change, and the implications to your back pocket? • Understand the full scope of choices for your TSP? • Want to learn about the options for replacing your SGLI or supplementing the Survivor Benefit Plan? Join us on 13 August at 11:30 am to discuss all of these questions (and any others you have). Don't miss out on this opportunity to enhance your retirement planning! Register in advance via this link: https://bit.ly/3SvPzp3 First Command Financial Services, Inc. and its related entities are not affiliated with, authorized to sell or represent on behalf of or otherwise endorsed by any federal employee benefits programs referenced, by the U.S. government, or the U.S. Armed Forces. TSP funds have very low administrative and investment expenses and, low expenses can have a positive effect on the rate of return of your investment.

🔥☕️ Hot Cups of Transition Info! If making it to the 20yr line is not looking like the best option for you and your family…..the Military Service Earnings/Buy Back Estimator tool helps estimate the cost and earnings from buying back military service time for federal employment credit. 🌟💻 Access it anytime online (with a CAC-enabled device) to get a sneak peek at what your earnings could look like! 📆⏰⏳It can take up to 60 business days so **FAILING TO PLAN** should not be an option!! Remember, leaving the service is all about making informed decisions, and this tool is a great first step. There are so many amazing ways to serve the nation as a Federal Employee, and continue to receive helpful benefits. Why not see what fits best for you 🤷🏽♀️ Note: The estimates are unofficial, so you’ll want to chat with a HR Retirement Counselor to verify if you are eligible! 👉 Click here to check it out! https://lnkd.in/e3shBGcW #ServiceToCivilian #FederalCareers #MilitaryPride

Big News for Employers and Military Spouses Regarding 401(k) Plans! Here's something worth noting: The Secure 2.0 Act is rolling out a tax credit for civilian employers who act fast to get military spouses into their 401(k) plans. What's great is that it allows for immediate vesting in these contributions. This is a significant step forward for both employers and military spouses in terms of financial planning and benefits. #MilitarySpouses #401kBenefits #TaxCredits #SecureAct2

RETIREMENT DOESN’T HAVE TO BE THE END OF YOUR SERVICE. Continue serving until 65 years of age in the CAF. If thinking about your retirment, please consider joining the Cadet Organizations, Administration, and Training Service (COATS).  Don’t wait until your service at the Regiment is coming to a close before beginning to think about an opportunity within COATS and prepare for your component transfer. Any Cadet Corps in your area would benefit from your years of military experience. Keep your current rank, or transfer into the commissioned ranks. If you would like to continue serving as a NCM/NCO, you can do so proudly continuing to wear your Lorne Scots uniform and cap badge. It all depends on how YOU would like to continue serving. If you would like to commission into the CIC, a Prior Learning Assessment and Recognition (PLAR) will determine your rank and pay. A myth circulating for years is that it is better to end your service and re-apply into COATS. A J1 at the Regional Cadet Support Unit can make this transfer a seamless transition, allowing you to continue your pensionable service, minus the delay, frustration, and headaches. If you're thinking about your future, well beyond your Regiment service, and would like more info on COATS or CIC, please feel free to contact Capt D.J. Fimio at david.fimio@cadets.gc.ca anytime, and assistance throughout the entire process will be provided and ensure a smooth transition.  For any former members of the Regiment looking to join COATS or CIC, please feel free to contact the above email for information relating to your entry into the cadet program. A cadet corps offers 25 days pay during the regular year, however there are a multitude of opportunities throughout the year, such as: Employment at local, provincial, or national training facilities. Specialist employment at expeditions and various cadet competitions,  Summer training bus escort duties; Summer employment at various CAF bases in various roles;  Various staff instruction and HQ positions at various Regional Cadet Support Units. You can determine your total involvement in the Cadet Program. Get info today and plan how you would like to continue to serve.

What is a "military retirement window"? 1. The period just before the military tells you that you have to retire? (e.g. mandatory retirement date) 2. The last year before the date you choose to retire? 3. When you realize you can't stay forever and begin thinking about what to do next, where to do it, and how to make the transition. Did I miss one? Tell me below in the comments what you think. Why, do you think, is the answer to this question so critical to a service member's future if they will retire from the military? And if you've already retired from the military, what do you think now, in hindsight? I'd love to hear your thoughts! #soldierforlife #militaryretirement #retirementplanning