Quote:
Originally Posted by gatotom
Hugh R, no you are not the fool, I am.....been self employed most of my life.
Dueller, is this the same system for senators, etc. and military personal. My youngest son is at USNA and I thought that after 20 yrs service he gets 70% and if he does 30 yrs its 90%
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I wish!
At twenty you get 50% of your base pay, which, because of the tax free allowances that are stacked onto base pay, is much less than your total income. Every year after 20, your percentage of base pay you get in retirement goes up by 2 1/2%.
I am not *****ing, but it is not nirvana.
The scoop:
http://www.defenselink.mil/militarypay/retirement/calc/
I will retire at 26 years as an O-6, High 3...do the math
