CRSC 21 years

[NavyJoe]

I am trying to determine how to budget after the navy and what sort of job I have to get and was wondering if someone could help me out. Basically trying to figure out what will and wont get taxed as well as what money I will have in my pocket each month.

1.--5254.84 (high 3)
2.--100 (DoD) should be PDRL
3. 21 years 1 month.
4. --VA compensation (All of the following):
a. 100% P&T;
b. 4229;
c. 1 spouse 5 children 1 over 18 but specified as helpless, 16, 9,7,4;.
d. SMC-K 118.33.
5.--70%.
6.--no other retirement and not blended.
7.--no REDUX/CSB payment
8.--No Blended Retirement program

Thank you for all the help. Just want to have a good budget idea once I am 100% out.

 

[RonG]

I am trying to determine how to budget after the navy and what sort of job I have to get and was wondering if someone could help me out. Basically trying to figure out what will and wont get taxed as well as what money I will have in my pocket each month.

1.--5254.84 (high 3)
2.--100 (DoD) should be PDRL
3. 21 years 1 month.
4. --VA compensation (All of the following):
a. 100% P&T;
b. 4229;
c. 1 spouse 5 children 1 over 18 but specified as helpless, 16, 9,7,4;.
d. SMC-K 118.33.
5.--70%.
6.--no other retirement and not blended.
7.--no REDUX/CSB payment
8.--No Blended Retirement program

Thank you for all the help. Just want to have a good budget idea once I am 100% out.

Hello,

Rough estimate.

A. 5254 X 75% = 3941 retired pay
B. Retired pay is reduced to zero by amount of VA comp
C. 21.08 x 2.5%. = 52.7% longevity multiplier
D. 5254 x 52.7 = 2768.86 longevity portion of retired pay
E. I cannot tell what other retirement you are eligible for as you did not ID it. I also don’t know if the 21 Years and one month is reserve time or active duty equivalent. All of that info has a bearing on certain entitlements and amounts. You mentioned that you did not qualify for another retirement. Over 20 years suggests otherwise.
F. If you are are eligible for CRDP using the info available the amount would be ~2768. CRSC IF APPROVED, could not be more than that and could be less.

Please clarify. I possibly will be gone the rest of the evening. @Provis can help if he sees your reply.

Ron

 

[NavyJoe]

@RonG @Provis Thanks guys I guess I wasnt clear on that question my time is all active time. I am being med retired for PTSD from combat and also from hip surgeries.

 

[RonG]

@RonG @Provis Thanks guys I guess I wasnt clear on that question my time is all active time. I am being med retired for PTSD from combat and also from hip surgeries.

Rough estimate.

A. 5254 X 75% = 3941 retired pay
B. Retired pay is reduced to zero by amount of VA comp
C. 21.08 x 2.5%. = 52.7% longevity multiplier
D. 5254 x 52.7 = 2768.86 longevity portion of retired pay
E. Your info shows you are eligible for a regular retirement. I
F. Since you are eligible for CRDP using the info available the amount would be ~2768. CRSC IF APPROVED, could not be more than that and could be less.

G. CRSC: It appears CRSC would be less than the longevity amount which is also the CRDP amount.
See the 70% rates at: 2022 Veterans disability compensation rates | Veterans Affairs <---LINK

From the info you provided it appears your will receive
---DFAS CRDP = 2768.86
--VA compensation = 4229

Generally, CH 61 retirees receive CRSC that is the lesser of
--Longevity portion of retired pay
OR
--The amount in the VA compensation tables that mirrors the approved CRSC percentage by your service.

CRSC can never be more than the longevity amount.

See: DFAS "Is it Taxable?" Defense Finance and Accounting Service > RetiredMilitary > manage > taxes > isittaxable <---LINK



Ron