NATIONAL GUARD RETIREMENT OVERVIEW

TECHNICIAN RETIREMENT

AND THE IMPACT OF

SOCIAL SECURITY, THE THRIFT SAVINGS PLAN,

& MILITARY RETIREMENT,

NATIONAL GUARD RETIREMENT OVERVIEW

• Components– CSRS or FERS Retirement

– Social Security

– Thrift Savings Plan – Military Retirement

NATIONAL GUARD RETIREMENT CSRS/FERS RETIREMENT ESTIMATE


01/01/1960

ESTIMATE REPORT

FERS Annuity SupplementAnnual leaveAssumptions:

No Part Time ServiceAll deposits are paid

DEFINITIONS

NATIONAL GUARD RETIREMENT IMPACT OF MRA +10 RETIREMENT

Optional Retirement

NATIONAL GUARD RETIREMENT IMPACT OF MRA +10 RETIREMENT

MRA+ 10 Retirement

Both the Gross Annuity and Net Annuity are impacted

Net is $445 less than the optional retirement

NATIONAL GUARD RETIREMENT IMPACT OF PAYING MILITARY DEPOSITS

Military Deposit NOT Paid

NATIONAL GUARD RETIREMENT IMPACT OF PAYING MILITARY DEPOSITS

Military Deposit PAID

The Gross & Net Annuity and date of retirement are impacted

Net is $379 MORE per MONTH PERMANENTLY than without the military deposit ($45,480 over 10 years

NATIONAL GUARD RETIREMENT IMPACT OF PAY CHANGES

• What will impact the estimate:– Type & date of retirement– Years of service– Future promotions– Step increases– General adjustments– Length of service– Military deposits (paid vs. unpaid)– Change of duty location (i.e. San Francisco vs. Fresno)– Reductions– Deductions

SOCIAL SECURITY

• Based on years paid into Social Security

• Benefits impacted by age at time of application

• Contact Social Security Administration:

– www.socialsecurity.gov

– 1-800-772-1213

http://www.socialsecurity.gov/

THRIFT SAVINGS PLAN

• Options at retirement

– Partial Withdrawal

– Full Withdrawal

• Calculators

THRIFT SAVINGS PLAN

• Contact TSP:

– www.tsp.gov

– 1-TSP-YOU-FRST (1-877-968-3778)

• Available Monday-Friday 0700 – 2100 Eastern time

http://www.tsp.gov/

MILITARY RETIREMENT

• To obtain a personal military retirement calculation, go to:– Air Force: • Air Force Portal/VPC-GR/Guard Retired Pay Calculator• https://gum-crm.csd.disa.mil/app/processes/form/fn/rpc – Army:• https://www.hrc.army.mil/Calculators/RetirementCalc.aspx

https://gum-crm.csd.disa.mil/app/processes/form/fn/rpc

https://www.hrc.army.mil/Calculators/RetirementCalc.aspx

MILITARY RETIREMENT – AIR FORCE

Base Retired Pay: (Estimated) $3024.46

MILITARY RETIREMENT – ARMY

BIG PICTURE

Age at Retirement

at Earlier Retirement:

Full Retirement Age

50/55-57 60 62 65-67 70FERS/CSRS (from ABC) FERS Annuity Supplement (from ABC) Social Security (From Social Security Statement) Thrift Savings Plan (From Thrift Savings Plan Statement & Calculator) Military Retirement (from military branch)

Total Income$ $ $ $ $

NATIONAL GUARD RETIREMENT OVERVIEW

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