Retirement / Separation Considerations

[JimNtexas]

I recently went on TFL.  Based on my experience with my November very expensive knee replacement followed by months of PT, I'd say TFL is the Golden Ticket for American insurance plans.  

One other note.  If you are on TFL, but your spouse is not yet on Medicare then you have to pay $12.50 a month for their Tricare.  

I'm really grateful for what I have in the way of insurance, now that I'm old enough to really need it.   I tire of the other old geezers who whine 'I WAS PROMISED FREE FREE FREE' about having to pay a minimal amount for great coverage.  

[HossHarris]

27 minutes ago, JimNtexas said:

I recently went on TFL.  Based on my experience with my November very expensive knee replacement followed by months of PT, I'd say TFL is the Golden Ticket for American insurance plans.  

One other note.  If you are on TFL, but your spouse is not yet on Medicare then you have to pay $12.50 a month for their Tricare.  

I'm really grateful for what I have in the way of insurance, now that I'm old enough to really need it.   I tire of the other old geezers who whine 'I WAS PROMISED FREE FREE FREE' about having to pay a minimal amount for great coverage.  

Other than the fact that they/we were promised free healthcare as an enticement for our service .... but yeah ... other than that it’s great!

[Sua Sponte]

If given a position with a federal entity, or even some contractors, they will pay for your clearance/poly. This is true at least with employment, my I’m a DoD contractor and my company paid for me to obtain a clearance due to having longer than a 24 month break from when I separated. I don’t know if the same procedures apply with Skillbridge.

[Sua Sponte]

52 minutes ago, MyCS said:

Riddle me this Batman... Unlike SGLI, VGLI is a rip off post retirement?

USAA has really solid life insurance rates, but requires a "medical checkup" from a medical professional who will meet you at your home or place of your choice. I wonder if your PHA would be a suitable alternative for USAA. 

Is there an age restriction where they have to a physical (over 55+)?

[ClearedHot]

11 hours ago, MyCS said:

I wonder if your PHA would be a suitable alternative for USAA. 

Nope...just had mine and they said no dice.  USAA comes to house, Dude walks in with a scale and draws blood.

Also, asks if you use tobacco then does a test to verify.

[nsplayr]

The above checks about USAA as well as AAFMAA. I have life insurance from both but if I only had one I would choose AAFMAA; more coverage available at better rates. Mid thirties, not a tobacco user, YMMV.

Edited January 31, 2021 by nsplayr

[HeloDude]

19 hours ago, ClearedHot said:

Nope...just had mine and they said no dice.  USAA comes to house, Dude walks in with a scale and draws blood.

Also, asks if you use tobacco then does a test to verify.

Pardon my ignorance, but how often does this happen?  Someone mentioned “medical checkups”, so I’m assuming this is a reoccurring exam and not just an initial?

[nsplayr]

24 minutes ago, HeloDude said:

Pardon my ignorance, but how often does this happen?  Someone mentioned “medical checkups”, so I’m assuming this is a reoccurring exam and not just an initial?

Just an initial, not recurring. Before they insure you they want to make sure you’re not on death’s door or lying about weight, tobacco use, etc.

[17D_guy]

10 hours ago, nsplayr said:

Just an initial, not recurring. Before they insure you they want to make sure you’re not on death’s door or lying about weight, tobacco use, etc.

Yep, got covid fat, have family history of issues, been denied life insurance.  Each time someone comes to the house and they want medical history.

[FDNYOldGuy]

8 hours ago, 17D_guy said:

have family history of issues

This is a big one. It might vary by specific company, but you won’t get cheap(est) rates if you’ve had a close family member die younger than 60.

On 1/31/2021 at 8:44 AM, MyCS said:

but requires a "medical checkup" from a medical professional who will meet you at your home or place of your choice

As other said, this is a one time thing before you get actual policy rates to ensure you’re not on your way out imminently. Also, the nurse is not your friend, so anything you say can and will be used against you in the rate department. 

[Sua Sponte]

37 minutes ago, MyCS said:

Why are states like CA able to tax our retirement checks? Would states put up a fight if a president pushed to repel txeing military retirements?

I know CA pushed a bill last year to not tax military retirees and it died. A succubus is a CA politician.

Move to a state with no state income tax when you get out?

[nsplayr]

9 hours ago, MyCS said:

Why are states like CA able to tax our retirement checks?

Federalism?

Edited February 3, 2021 by nsplayr

[icohftb]

Anyone have experience changing/adjusting their retirement date? Wondering how much advance notice or leeway they give you if you request to change it. Thanks ahead of time.

[17D_guy]

6 hours ago, MyCS said:

Restaurants run by chefs in CA are better than TX.

Fun fact - There's great chef's everywhere.  San Antonio had some AMAZING food.  So does Houston.

My 0 point PT waist is evidence of this fact.

[pcola]

I’m retiring with less than 3 years time in grade as O-5. Apparently that means I’ll be retiring as a Major even though I’ve been pinned on Lt Col for 2.5 years. Can anyone explain to me what this actually means? My pay isn’t affected since the high-3 doesn’t take into account what grade you retire in. Any other ramifications of this that I should be aware of?


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[Chida]

Are you regular retiring? If so then your pay is slightly affected since it’s high-36, which is the average of your highest 36 months of pay.

If you’re a reserve retiree it is hugely affected since your pay will be based on top of the chart major’s pay.


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[nsplayr]

1 hour ago, Chida said:

If you’re a reserve retiree it is hugely affected since your pay will be based on top of the chart major’s pay.

Is reserve retirement not based on high-36 as well? I thought it was...

https://militarypay.defense.gov/Pay/Retirement/Reserve.aspx

[Chida]

Yeah, but time in the grey area counts for pay chart purposes, so your clock keeps running until age ~60. So the rank you take with you into the grey area is what counts. So for me, assuming I get my 3 yrs tig before I go to the grey area, will be O-5 with 37 years so the high 36 will all be top of the chart O-5 pay.


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[nsplayr]

3 minutes ago, Chida said:

Yeah, but time in the grey area counts for pay chart purposes, so your clock keeps running until age ~60. So the rank you take with you into the grey area is what counts. So for me, assuming I get my 3 yrs tig before I go to the grey area, will be O-5 with 37 years so the high 36 will all be top of the chart O-5 pay.


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Ah ha, got it. So in the OP's situation he'd have 30 months at the top of the O5 chart and 6 months at the top of the O4 chart, right? Doesn't seem that different than if you were retiring on active duty unless I'm not understanding still. I guess the pay difference between O4 and O5 get magnified even further at the top of the YOS chart?

Edited February 3, 2021 by nsplayr

[Chida]

If he is a reserve retiree: if he doesn’t get his 3 yrs TIG before transfer to the grey area then his rank will be Maj and his pay will be based on top Maj pay.


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[Chida]

For the Reg Retiree: I just ran the numbers for a hypothetical. Assumption: reached 20 years of active duty service in Dec 2020 (so using pay charts from 2018-2020 to calculate high-36).

$9097: high36 for 2.5 years as O-5 and .5 yrs as O-4 gives $4614 per month retired pay

$9206: high36 for 3 yrs as O-5 gives $4670 per month retired pay

[Chida]

For the Reserve Retiree: hypothetical. Assumptions: reached age 60 in Dec 2020 (so using pay charts from 2018-2020 to calculate high-36). Served age 23 to age 43 and transferred to grey area in 2003. Had 20 good years and 5000 points. Note that since grey area time counts for pay chart purposes, the years will be 37, 36, and 35 or put simply the max pay on the chart)

$8088: high36 for Maj (didn't serve 3 yrs TIG to make O-5 stick). $2808 per mo retired pay

$9539: high36 for LtCol (served at least 3 yrs TIG so takes O-5 into the retired rsv). $3312 per mo retired pay

So the difference in retired pay isn't as huge as I had thought, but if you're close you might as well try to get that 3 yrs TIG before your transfer to retired reserve.

[HossHarris]

47 minutes ago, Chida said:

For the Reserve Retiree: hypothetical. Assumptions: reached age 60 in Dec 2020 (so using pay charts from 2018-2020 to calculate high-36). Served age 23 to age 43 and transferred to grey area in 2003. Had 20 good years and 5000 points. Note that since grey area time counts for pay chart purposes, the years will be 37, 36, and 35 or put simply the max pay on the chart)

$8088: high36 for Maj (didn't serve 3 yrs TIG to make O-5 stick). $2808 per mo retired pay

$9539: high36 for LtCol (served at least 3 yrs TIG so takes O-5 into the retired rsv). $3312 per mo retired pay

So the difference in retired pay isn't as huge as I had thought, but if you're close you might as well try to get that 3 yrs TIG before your transfer to retired reserve.

$500 a month buys a lot of beer and hookers 

[pcola]

I’m regular. And am aware of the high 36, but that’s the same whether my retiree ID says Maj or Lt Col which is what I meant when I said it makes no difference. Aside from $, is there any other considerations I might be missing? For instance, if I ever returned to AD, would it be as O-4 or O-5?


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[ViperMan]

2 hours ago, HossHarris said:

$500 a month buys a lot of beer and hookers 

Jezus, what kind of beer and what kind of hookers?