How does retirement work in the National Guard?

Defined Benefit: Monthly retired pay for life after at least 20 years of service (so if you retire at 20 years of service, you will get 40% of your highest 36 months of base pay). Retired pay will be calculated as follows: (Years of creditable service x 2.0%) x average of highest 36 months basic pay.

How is National Guard retirement pay calculated?

The Reserve/Guard retirement system calculates the multiplier from your total points. Divide your grand total career point count by 360 (because your pay is based on 30-day months) and multiply by 2.5% to come up with your service multiplier. For example, 2134 points / 360 * 2.5% = 14.82%.

What is National Guard retirement?

FEDERAL RETIREMENT PLAN

And it’s a pretty simple plan. If you complete a standard part-time term in the Guard by age 60, you could be eligible to receive monthly payments* based on serving one weekend per month plus an additional 15 days per year, for 20 years. This is on top of any benefits from your civilian career.

Does the National Guard get retirement?

National Guard or Reserve members with 20 or more qualifying years are eligible to receive their monthly retired pay starting at age 60 or earlier based on qualifying active service. See our Blended Retirement System page for more details.

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How much is a National Guard retirement point worth?

For the purpose of retirement, we can equate 1 Point to the equivalent of one day of Active Duty service. An Active Duty retirement is worth 2.5% of your base pay for each year you served (for the High Pay and High-3 retirement plans).

What benefits do retired National Guard members get?

Those who do have a number of benefits available to them, including retirement pay (which begins at age 60), “Space-A” travel, survivor benefit plan, SGLI, PX/BX/Commissary privileges, transient billeting and legal assistance. Some states offer additional benefits for their retired Guardsmen.

What is the average National Guard retirement pay?

Defined Benefit: Monthly retired pay for life after at least 20 years of service (so if you retire at 20 years of service, you will get 40% of your highest 36 months of base pay). Retired pay will be calculated as follows: (Years of creditable service x 2.0%) x average of highest 36 months basic pay.

Does 6 years in the National Guard make you a veteran?

Does 6 years in the National Guard make you a veteran? Yes, if you spent at least 180 days of that 6 years deployed on federal active duty orders. A 2016 change to federal law expanded the definition of “veteran” for many National Guard members.