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Career Status Bonus (CSB) - $30,000
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Career Counselor
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posted
The $30,000 Career Status Bonus (CSB)
Soldiers who elect the CSB/REDUX retirement system at their 15th year of service receive a $30,000 Career Status Bonus. To receive this bonus, the Soldier must agree to complete a twenty-year active duty career with length-of-service retired pay under the 1986 Military Retirement Reform Act -- 1986 MRRA or REDUX. Contination beyond twenty years is possible, subject to Service personnel management actions. However, the Soldier's commitment with the CSB is only to the 20-year point. The entire $30,000 bonus, or first installment payment for those electing a multi-year payment option, is paid shortly after the member makes the CSB/REDUX election and commits to the 20-years-of-service obligation.
(Exact mechanics should be provided by your Service near the point you have 14 and 1/2 years of service.

If the Soldier doesn't complete the obligation of the twenty-year career, the Soldier must repay a pro-rated share of the bonus.

You can see your Personnel Office when you have 14 years and 6 months of active federal service and fill out a DD Form 2839.

http://www.dod.mil/militarypay/retirement/ad/04_redux.html


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Posts: 6763 | Location: Joint Base Myer-Henderson Hall | Registered: 31 December 2004Report This Post



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It should be noted that the retirement rates from 20-29 years are reduced under this plan. Most enlisted soldiers will hit RCP before it evens out at 30 years.

I would only recomend this to soldiers who plan to make a significant investment (such as a retirement fund, college for your children, or purchasing a home)

Example: a SFC retiring at 20 years will make 10% less with the career bonus. After only 9 years that's a difference of over $30,000. $345 a month difference in pay.


This is a ten level task
 
Posts: 2870 | Registered: 15 February 2004Report This Post


Career Counselor
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Just a caveat on this, but for every year after the 20th year of active federal service, the pay increase is 3.5% instead of 2.5%.

Therefore, if you stay a mere 3 years longer, or 23 years total, your retirement will be 50.5%.

DW is correct in saying it would be wise to invest a large portion of this bonus. You'll thank yourself (and DW) later.


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Posts: 6763 | Location: Joint Base Myer-Henderson Hall | Registered: 31 December 2004Report This Post

Picture of QMLeadsThaWay
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Sorry to resurrect an old thread, but when it comes to getting the $30,000 (or whatever you get when your not deployed), do they go by the BASD, or by the BEPD listed on the LES?
 
Posts: 81 | Location: Fort Drum, NY | Registered: 20 April 2007Report This Post


Career Counselor
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quote:
Sorry to resurrect an old thread, but when it comes to getting the $30,000 (or whatever you get when your not deployed), do they go by the BASD, or by the BEPD listed on the LES?

Your DIEMS Date determines is you qualify for this or not.

Your BASD is what they base the 15-year mark off.


It's YOUR career! Take control of it before someone else does.
http://www.ArmyReenlistment.com
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Posts: 6763 | Location: Joint Base Myer-Henderson Hall | Registered: 31 December 2004Report This Post

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I am confused. My husbands LES states "Choice" under Retirement Plan, even though he's in since 18 years. He was never notified of anything. Can he still get the 30,000 and become REDUX?
Thanks for the help and advise on this!
 
Posts: 3 | Registered: 29 November 2007Report This Post


Career Counselor
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Does your husband have 15-years of ACTIVE service?


It's YOUR career! Take control of it before someone else does.
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Posts: 6763 | Location: Joint Base Myer-Henderson Hall | Registered: 31 December 2004Report This Post

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Yes, almost 18 years.
 
Posts: 3 | Registered: 29 November 2007Report This Post

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What exactly is your DIEMS date? And does that date include your National Guard time?
 
Posts: 1 | Location: Ft Drum, NY | Registered: 12 December 2007Report This Post

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I am an AGR soldier currently deployed to Iraq. I have 14yrs 7mos and have decided to take the REDUX retirement plan. According to the website, if I understand it correctly, I can choose this retirement now. Does the Career Bonus pay out as soon as you elect the REDUX or do you have to wait until you reach the 15yr mark? Thanks.
 
Posts: 3 | Location: Iraq | Registered: 12 December 2007Report This Post


Career Counselor
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quote:
Originally posted by drose:
What exactly is your DIEMS date? And does that date include your National Guard time?

DIEMS (date initially entered military service) is the date an individual was initially enlisted, inducted, or appointed in a regular or reserve component of a uniformed service as a commissioned officer, warrant officer, or enlisted member. Breaks in service do not affect a DIEMS date. United States Military Academy cadets (date of entry into the academy), ROTC cadets (date of scholarship contract or date the cadet began the advanced ROTC course, whichever is earlier) and members of the delayed entry program (DEP) (date enlistment contract signed, regardless of when the soldier entered active duty) are considered under these provisions. This date is used solely to indicate which retirement plan a member is under. The DIEMS is the first time any contract was signed obligating the soldier to any type of military service, even if it was later voided.


It's YOUR career! Take control of it before someone else does.
http://www.ArmyReenlistment.com
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Posts: 6763 | Location: Joint Base Myer-Henderson Hall | Registered: 31 December 2004Report This Post


Career Counselor
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posted Hide Post
quote:
Originally posted by A143Gunny:
I am an AGR soldier currently deployed to Iraq. I have 14yrs 7mos and have decided to take the REDUX retirement plan. According to the website, if I understand it correctly, I can choose this retirement now. Does the Career Bonus pay out as soon as you elect the REDUX or do you have to wait until you reach the 15yr mark? Thanks.

You should receive the payment within 30 days after the form has been submitted.


It's YOUR career! Take control of it before someone else does.
http://www.ArmyReenlistment.com
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Posts: 6763 | Location: Joint Base Myer-Henderson Hall | Registered: 31 December 2004Report This Post

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Thanks that's what I thought. Finance office here in Iraq was telling us that it does not payout until after your 15 yr mark regardless of when you opt for it. I am going through my finance office back in my state now as the finance office here does not understand AGR anyway.
 
Posts: 3 | Location: Iraq | Registered: 12 December 2007Report This Post

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Sorry if this is getting redundent - but, at 14 yrs 6 mos you can apply for the CSB? And that is based off of your BASD? And probably the ultimate dumb question, does being 'indef' status make a difference?
 
Posts: 1 | Registered: 23 January 2008Report This Post


Career Counselor
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Yes ... Yes ... No

You'll get your money when you hit your 15-year mark though ... if anyone received there money earlier, let us know.


It's YOUR career! Take control of it before someone else does.
http://www.ArmyReenlistment.com
http://www.facebook.com/ArmyReenlistment
 
Posts: 6763 | Location: Joint Base Myer-Henderson Hall | Registered: 31 December 2004Report This Post
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