Ok, so here's a question, if you are at about 13 1/2 years E6 just reenlisted indef and your RCP takes you to 22 years, are you still eligible for the CSB at 14 1/2?

^ Bump

Career Status Bonuses (CSB) are for retirement purposes and Reenlistment Bonuses are for reenlisting ... yes, you can get both.

Also, although you are eligible to make the CSB election at 14 1/2 years, you will not get paid until your 15th year.

Sweet, thank you very much AR.

And if you're in a tax free zone, you'll be saving about $8,500!

He has to be in a tax free zone when he requests it right? Not when he gets paid?

Another question, if he has to be in a tax free zone when he requests it, can he do it prior to 14 1/2? Oh and sorry, how long is the option available? Obviouslyno later than your 20th year of service, but if you/ can you do it at say 16 years and just get it prorated, or how does that work?

Sorry, it's midnight here and I tend to think of the most questions late at night...

^ Bump

My 15-year BASD anniversary is early next April, which means, if I'm reading this thread correctly, that early next month I should be able to apply for the CSB. There seem to be two answers on when I would actually receive the bonus--either within 30 days of turning in the paperwork (say early November), or when I hit 15 years (early April). I'm downrange, and I may be leaving in April, so I want to be proactive on this so I can get the money tax-free. I went down to my finance office here, and a SPC there told me that I wasn't even allowed to fill out the paperwork until I had hit the 15-year mark. So what's the real deal?

Does the Career service bonus apply to Army National Guard service as well? I am not AGR.

quote:

Originally posted by waynicus:
My 15-year BASD anniversary is early next April, which means, if I'm reading this thread correctly, that early next month I should be able to apply for the CSB. There seem to be two answers on when I would actually receive the bonus--either within 30 days of turning in the paperwork (say early November), or when I hit 15 years (early April). I'm downrange, and I may be leaving in April, so I want to be proactive on this so I can get the money tax-free. I went down to my finance office here, and a SPC there told me that I wasn't even allowed to fill out the paperwork until I had hit the 15-year mark. So what's the real deal?

You can apply for the CSB as early as 14 1/2 years, you will not receive the payment until your 15-year BASD anniversary. I wouldn't listen to that SPC at finance, if you plan on taking it and want the full amount; you need to submit the paperwork prior to 15 years, once received by finance it will be placed in the system to be paid at 15 years.

quote:

Originally posted by big monkey:
Does the Career service bonus apply to Army National Guard service as well? I am not AGR.

No, the CSB is for Active Army; since $30,000 is given at 15-years, this gives the taker a 40% retirement at 20. If you stay longer on active you can earn back 3.5% until it matches back at 75% retirement for 30 years.

Finance guy here, and "JMW3CC" is correct. I just got back from down range and some finance offices there are sub par to be honest. Some only want to deal with down range issues, others have never done their job because civilians do most or all of our jobs in CONUS. I hate appologizing for my fellow finance, but many are becoming more and more lost in the woods as we can not learn our jobs before deployment. I would highly suggest submitting the CSB at 14 1/2 years to make sure everything flows smoothly when the 15 year mark hits. CSB's are forwarded by finance up to DFAS, and we all know how things can get kicked back, so get the CSB paper work in and approved by DFAS before the 15 year mark.

quote:

Originally posted by JMW3CC:
No, the CSB is for Active Army; since $30,000 is given at 15-years, this gives the taker a 40% retirement at 20. If you stay longer on active you can earn back 3.5% until it matches back at 75% retirement for 30 years.

1- Most Soldiers aren't allowed to serve 30years. What is the RTP of an E-8/ O-4?? (((CW3 could serve that long... )))

2- I would seriously NOT consider taking the CSB. The retirement money lost is a lot more than $30k....
(The way the economy looks right now there aren't a lot of ways you could Safely Invest that money for later... )

Good call AutobahnSHO, some soldiers do not figure the math, just see the quick lump sum. I think they actually offer a brief at some posts, usually at ACS, where they show you the math and impact on retirement. And it is a big loss in the long run to retirement.

I hit 15yrs on the 27th of Dec, and I took the CSB, when can I expect the the Bonus to get paid. I did the paperwork in the beginning of the month, what is the average time for it to get paid?