Is CSB Redux still available Navy?
Is CSB Redux still available Navy?
114-92, Section 354 of Title 37, U.S.C., was amended to discontinue authorization of any new payments of the Career Status Bonus (CSB/REDUX) as of January 1, 2018.
What does CSB Redux mean?
CSB/REDUX is a two-part deal. It includes the $30,000 bonus, but also results in a reduced retired pay. While the $30,000 Career Status Bonus may seem like an incentive now, it is important to be aware of the effects electing to retire under CSB/REDUX will have on your retired pay. CSB REDUX Retired Pay Calculation.
How does Redux calculate military retirement pay?
This retirement system is completely voluntary. For Soldiers who elect the REDUX option, retired pay is computed using 40 percent of the “high-36” average basic pay after 20 years of service, with an additional 3.5 percent for each additional year.
What is redux military retirement?
CSB/REDUX is the only retirement system that includes a re-adjustment to its retired pay amount. At age 62, retired pay is recomputed to what it would have been under High-36. Also, at age 62, a one-time COLA adjustment is made that applies the cumulative effects of High-36 COLA (CPI) to the new retirement base.
What is CSB army?
CSB. Corps Support Battalion. Military, Support, Battalion.
How do I apply for CSB Redux?
To make a CSB/REDUX election, a member was required to submit a DoD (DD) Form 2839, Career Status Bonus (CSB) Election or Service equivalent form, and any other Service required forms as directed in the eligibility notification no later than the date the member attained 15 years of active military service or 6 months …
How does high-3 work for military retirement?
The final pay method, as the name implies, establishes the retired pay base equal to final basic pay. The high-36 method is the average of the highest 36 months of basic pay divided by 36. This is generally the last 3 years of service and is sometimes called high-3.
How is high-3 calculated?
Your “high-3” average pay is the highest average basic pay you earned during any 3 consecutive years of service. These three years are usually your final three years of service, but can be an earlier period, if your basic pay was higher during that period. Your basic pay is the basic salary you earn for your position.
What is the Redux plan?
For the REDUX retirement plan, which applies only to certain active duty retirements as described above, the High-36 multiplier is reduced by one percentage point for each year that the member has less than 30 years of service at retirement. For example, 20 years of service would equal a 40% multiplier.
