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How do I calculate my Air National Guard retirement pay?

How do I calculate my Air National Guard retirement pay?

The Reserve/Guard retirement system calculates the multiplier from your total points. Divide your grand total career point count by 360 (because your pay is based on 30-day months) and multiply by 2.5% to come up with your service multiplier. For example, 2134 points / 360 * 2.5% = 14.82%.

How much does a CW4 make in retirement?

Retired Pay Application

FY 2020
CW5 (W5) 0.558 0.631
CW4 (W4) 0.507 0.573
CW3 (W3) 0.465 0.503
CW2 (W2) 0.408 0.423

What is the retirement pay for an E-8?

roughly $22,000 a year
For example, the retirement of an E-8 with 20 years is roughly $22,000 a year for just waking up in the morning. However, if you spread that out for another 40 years of living, retirement pay has reached a $1 million retirement package.

How does the retirement calculator work for You?

Our retirement calculator predicts how much you need to retire based on your current salary and investment dollars and divides it by your post-retirement years. Our calculator makes the following assumptions:

How does the military calculate your retirement pay?

Twenty years of active-duty military service is required to qualify for retirement from active duty. To calculate estimating retirement pay: Basic Pay × Number of Years Active-Duty × 2.5%. For example, if an individual is an E-6 with 20 years of military service and a basic pay of $3,243.30 per month, the equation would run:

What’s the purpose of the myorangemoney retirement calculator?

myOrangeMoney® is designed to give you a simple and actionable view of your retirement income needs and your current progress towards meeting those needs whether in 5 years or 40 years. Our goal is to make sure you know where you stand regarding your readiness to retire and to ensure that you know how to improve your outlook.

How to calculate your service multiplier for retirement?

Divide your grand total career point count by 360 (because your pay is based on 30-day months) and multiply by 2.5% to come up with your service multiplier. For example, 2134 points / 360 * 2.5% = 14.82%. That’s your service percent multiplier, just as an active-duty retirement at 20 years would be 50%.