What does retirement plan choice mean on my Les?

What does retirement plan choice mean on my Les?

24 RET PLAN: Type of retirement plan, i.e. Final Pay, High 3, REDUX; or CHOICE (CHOICE reflects. members who have less than 15 years service and have not elected to go with REDUX or stay with their current retirement plan). Fields 25 through 32 contain leave information.

How do I choose my military retirement plan?

The DoD has stated that there is no “official” preference for which retirement plan eligible one may choose, and with that philosophy in mind those affected are required to get mandatory training on options related to the Blended Retirement System including the procedures for opting in and what it takes to make a fully …

What is BF balance on my Les?

“BF Bal” (brought forward leave balance) shows the days leave carried forward from the previous fiscal year ending on 30 Sep. “Ernd” is the cumulative amount of leave earned this fiscal year or current term of enlistment if service member reenlisted/ extended since the beginning of the fiscal year.

How do you read a DFAS Les?

Fields 1-9 focus on identification.

1. NAME: This is the service member’s name listed Last, First, Middle Initial.
2. SOC.
3. GRADE: The service member’s current paygrade.
4. PAY DATE: This is the Pay Entry Base Date (PEBD).
5. YRS SVC: In two digits, the actual years of creditable service.

What is high 3 retirement plan?

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.

How much is 20th Army retirement?

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).

Do officers get a clothing allowance?

Both officers and enlisted members of the U.S. Armed Forces are entitled to an initial clothing allowance. Regular officers may not receive this allowance when transferring to another Military Service.

What is discretionary Alt on Les?

A discretionary allotment is a voluntary allotment that is setup by a member and may be stopped, started or adjusted at will.

How many points do you need for a good year?

50
Also known as a Good Year, a member accrues a Qualifying Year after they have earned a minimum of 50 retirement points in their own Anniversary Year.

How do I read my Army Reserve Les?

Fields 1 through 9 contain the identification portion of the LES.

1. • 1 – NAME. The member’s name in last, first, middle initial format.
2. • 2 – SOC. SEC.
3. • 3 – GRADE. The member’s current pay grade.
4. • 4 – PAY DATE.
5. • 5 – YRS SVC.
6. • 6 – ETS.
7. • 7 – BRANCH.
8. • 8 – ADSN/DSSN.