Career Status Bonus (CSB) - $30,000

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... Smiler )))

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 currently have 16 years of active duty and never received notification of the CSB. I have never seen an email or been counseled about the program. I have never submitted a DD 2839 electing to receive or declining the bonus. Does anyone know if I am still eligible to submit for the bonus, or is it to late?
quote:
Originally posted by nimbus3215:
I currently have 16 years of active duty and never received notification of the CSB. I have never seen an email or been counseled about the program. I have never submitted a DD 2839 electing to receive or declining the bonus. Does anyone know if I am still eligible to submit for the bonus, or is it to late?
You can still elect to take th CSB, but you'll receive a lower rate than the $30,000 now. Depending where you are, some installations have a monthly brief about the CSB and some you just have to go to the finance office. Once you get the DD 2839, you have to be counseled by a LTC (usually your Bn Cdr) who signs the form in three places along with your signature in a few places. Check with your local finance office.
So with the New RCP message I need some clarification.
I am currently a SGT(P)[Long Story] and will hit my 15yrs on 18 Jun 11. Am I still eligible for the CSB if I get it approved an turned into finance prior to 1 Jun 11? I can not seem to get a definative answer on this.
quote:
Originally posted by ol sarge:
So with the New RCP message I need some clarification.
I am currently a SGT(P)[Long Story] and will hit my 15yrs on 18 Jun 11. Am I still eligible for the CSB if I get it approved an turned into finance prior to 1 Jun 11? I can not seem to get a definative answer on this.


Wow, interesting situation. Based of the message I am reading on the RCP, I am going to have to say no. You need to talk to your Retention NCO and find out if you will be out of the Army after the new RCP guidance starts June 1st. I would find that out first before working on the CSB. If retention says you will be in longer and not be forced out of the military than have more time to work on your promotion. I just recieved my CSB a couple of months ago and you can still apply for it, 6 months after your 15 year anniversary, or even longer after that depending on when you recieve the mandatory brief on the CSB which is usually 6 months before 15 yrs of service. Get with you retention and find out exactly how you are affected by the message. If you fall under the June 1st guidance than it looks like you are out unless you get promoted. What is you MOS and what is taking you so long to get promoted to SSG. Will the new promotion system help you or hurt you?
quote:
Originally posted by ol sarge:
So with the New RCP message I need some clarification.
I am currently a SGT(P)[Long Story] and will hit my 15yrs on 18 Jun 11. Am I still eligible for the CSB if I get it approved an turned into finance prior to 1 Jun 11? I can not seem to get a definative answer on this.
When is your current ETS date? If your current ETS date takes you past 18 years in service, then you are good. You serve until RCP or contractual ETS date. Once over 18 years, you can submit your retirement packet to get out at 20 years.

Have you thought about what you are doing with the CSB? Taking the CSB reduces your retirement by 10%, figuring if you retire at 40 and live the average life span of 76. You are losing around $325,000 in retirement benefits.

Use the CSB calculator to figure your retirement and decide whether its a good idea or not.
http://militarypay.defense.gov...t/calc/03_redux.html
Current ETS 03 Oct 15, takes me to 19yrs 03mths and 16 days. Actually have thought a great deal about the Pros and Cons of the CSB. My children's education and clearing up some financial missteps have me leanig more to taking CSB then waiting for retirement to pay me off in the long run.

I will definately take a look at the calculator before I make a final decision.
So after many days of research and deliberation me and my wife have decided on taking the CSB. However I was never notified by HRC, My DIEMS was 18 Jun 95, Do I have to wait for notification, or can I fill out the paperwork on my own? Should my S1 be able to help me fill this form out correctly? Does my BN Career counselor have any role in completing or filling out this paperwork? As always thank you for your time and responses.
Anyone know on average how long it takes to recieve payment of the CSB, one person her has told me it may take up to 90 days from my 15yr mark others have told me they recieved payment 10 days after the 15yr mark. Can anyone who recieved it recently while deployed tell me how long it took them to recieve it. Need a good timeline to tell my wife so she won't worry that the Army finance lost the paperwork.
quote:
Is the CSB available to Officers also?


Yes Sir, refer to Military Pay E-Message 07-028
Fill out the DD Form 2839, have the first O-5 in the chain of command(or his/her designee) sign it and take it to finance no more than 10 days prior to the 15 year mark (paragraph 18). Paragraph 3 lists the methods of verifying Service. Paragraph 17.c authorizes the O-5 to name a designee.

All this being said, remeber a gallon of gas costs about 79 cents when this came out and has never been adjusted for inflation.
quote:
Originally posted by csguyftc:
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.


Okay, my husband elected to take the CSB and went to turn in his paperwork and they told him to hang on to it until 3 days before his 15yr mark and that he would be paid on his 15yr mark. Is there any way I can find out if this is correct or not? Thanks!
Ok....So my hubby's 15th year was LAST year. After several long discussions we decided it was the best thing for us to do after I lost my job and the bills kept piling up. When he went to file the paperwork...he was told his DIEMS date and some other date is not matching. He went to S1 to change it...and it STILL has not been changed. That was back in April. We're now going into November...which is his 16th year. Is he still eligible to get the CSB? What can we do from here? Thanks!!!



quote:
Originally posted by ArmyReenlistment:
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...ent/ad/04_redux.html
My husband filed for the redux two months before his 15 yrs mark, and since then had to refile again.it's now mid may and he's been trying to get his redux since December 2012. S1 office keeps telling him that it wasn't kicked back, yet they have no explanation as to why it's taking so long to receive payment. Do u think thst it might have something to do with fact that he hasn't reenlisted indef,and won't be able to until 2014? Any advice would be greatly appreciated. We just want to know what the hold up is. He's been to finance, he's called main dfas, and still no answers.
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