If an employee does not have five years of compensation from January 1, 2004, such employees compensation for a sufficient number of years immediately prior to 2004 is included to produce a minimum five compensation years. There are two formulas for computing benefits under the Pension Plan.The normal retirement formula is used for employees who qualify for early retirement under the Pension Plan upon termination, by being credited with at least 10 years of service with VF and having attained age 55.here are two formulas for computing benefits under the Pension Plan. The normal retirement formula is used for employees who qualify for early retirement under the Pension Plan upon termination, by being credited with at least 10 years of service with VF and having attained age 55.
Waiving Retirement Pay for VA Benefits. A member who waives his or her retired pay in order to receive VA compensation or a pension may benefit for these reasons: 1  VA benefits are nontaxable income for federal, state, and local income taxation. 2  VA benefits may exceed the retired pay entitlement.
Health Care for Veterans. VA offers health care benefits for Veterans who may have been exposed to certain environmental hazards during military service. These services include health registry evaluations and clinical treatment at VAâs War Related Illness and Injury Study Center. Eligibility for health care benefits. Veterans first must enroll in VAâs health care system to receive care. There are many ways a Veteran may qualify. VA provides priority enrollment for health care to certain Veterans, including Veterans who have disabilities that VA has determined are military service-connected.