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Such elimination or actuarial reduction of immediate pensions would affect military retirees at an age when they are likely to have civilian job earnings nished by offering substantial cash bonuses to those involuntarily separated from the services beyond ten years and less than 30 years.
Your pension is based on the numbers of years of service at a multiplier of 3.2% per year. There is currently no maximum cap on the percentage you can earn. [Years of Service] X [Multiplier (3.2%)] = Percentage of Base Salary. An officer who works 23 years will make 73.6% of their base salary (23 x 3.2% = 73.6%). An officer who works 25 years will make 80% of their base salary (25 x 3.2% = 80%). An officer who works 30 years will make 96% of their base salary (30 x 3.2% = 96%). Military personnel are eligible to purchase an additional 2 years into the retirement system. This purchase does not count towards the required 23 service years you must do but will get added to your multiplier for pension purposes. For example, an officer who works 23 years and purchases 2 years of military time: 23 service years + 2 military years = 25 pension years. 25 x 3.2% = 80% of their base salary.