Terminal Learning Objectives

1
(No Transcript)
2
CAREER STATUS BONUSREDUX

• I Marine Expeditionary Force
• Headquarters Group
• Personnel Administration Center

3
Terminal Learning Objectives

• Know and understand the CSB/Redux retirement plan
  in order to make an election

4
Enabling Learning Objectives

• Know and understand the CSB installments process.
• Know and understand the requirements for
  eligibility to elect the CSB retirement plan.

5
CSB/REDUX Retirement Plan

• The National Defense Authorization Act for Fiscal
  Year 2000 changed the retired pay system for
  members who came on Active Duty on or after
  August 1, 1986. As of October 1, 1999 retirees
  have the option to elect the Career Status Bonus
  (CSB)/REDUX retirement option, giving Marines an
  opportunity to receive a 30,000 CSB at the
  completion of 15 years of AD.

6
Date of Notification

• At 14 years and six months MCTFS generates a
  Diary Feedback Report to the GPAC
• GPAC will notify the Marines once the DFR is
  received
• The date GPAC sends the notification is the Date
  of Notification

7
Election Effective Date

• This is the date the members election to receive
  CSB becomes irrevocable.
• Date on which the member reaches 15 years of
  active duty service.
• If the date of Notification is after the 15 year
  mark, the EED is the date the election posts to
  MCTFS

8
AFADBD(Armed Forces Active Duty Base Date)

• This is the date the member came on to active
  duty.
• This date is used to compute the members total
  number of years active duty.
• Determines when a member is eligible to make an
  election, and the date by which a member must
  make an election.

9
DIEMS date(Date Initially Entered Military
Service)

• Date someone first became a member of a Uniformed
  Service and pertains to the earliest date of
  enlistment.
• Cadets of the ROTC, and members of the Delayed
  Entry Program are considered to have become
  members for the purpose of the DIEMS date.
• In MCTFS it is referred to as the Armed Forces
  Original Entry Date.

10
Eligibility Requirements

• To be eligible a member must
• Be serving on active duty
• Have become a member of the Armed forces on or
  after August 1, 1986.
• Have completed 15 years of active duty in the
  Armed Forces
• Plan on completing 20 years of active duty.

11
How to Collect

• Eligible members who chose to receive CSB/Redux
  will collect the money upon completion of 15
  years of active duty.
• Lump sum payments will be made on the payday
  following the first Update and Extract date
  (UE), after they hit their 15 year mark.
• Installments are paid on annually on Jan 15th of
  each year following their 15 year mark.

12
Installment Options

• Members who elect the CSB retirement option
• have the choice of receiving
• One Lump sum payment of 30,000 (taxable)
• 2 installments of 15,000 each (taxable)
• 3 installments of 10,000 each (taxable)
• 4 installments of 7,500 each (taxable)
• 5 installments of 6,000 each (taxable)

13
CSB Considerations

• The election may not be revoke once it is
  received, or after first installment is paid.
• Elections will not be accepted in MCTFS until the
  member has hit the 14 ½ year mark
• Payments will not be made until the member hits
  the 15 year mark.
• By electing the member agrees to remain on
  CONTINUOUS ACTIVE DUTY until the completion of 20
  years active service.

14
CSB Considerations (Cont)

• A prorated share of the CSB must be repaid if the
  member fails to complete 20 years of active
  service.
• CSB may be used toward the Thrift Savings Plan
  (TSP)
• Retirement pay will be computed at 40 at 20
  years AD, and 3.5 incrementally for each
  additional year of service up to 75 at 30 years.
  (See chart on next slide)

15
Retired Pay Comparison
16
QUESTIONS??
17
(No Transcript)