Benefits after service

Discussion in 'Air Force Academy - USAFA' started by knownothing, May 16, 2018.

  1. knownothing

    knownothing Member

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    I have unsuccessfully tried to find this information online.
    In the senario that a cadet graduates USAFA and goes on to do only the minimum required service commitment (5 years, my understanding), are there any benefits (other than the obvious intangibles) that they would have earned or are entitled to in civilian life? TIA
     
  2. USMCGrunt

    USMCGrunt 5-Year Member

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    There can be some civil service credits (when applying for government jobs) but other than that, I can't think of any.
     
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  3. Capt MJ

    Capt MJ 10-Year Member

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    Your AD time, including USAFA, can be counted toward Federal civil service retirement. USAFA time does not count toward military retirement. Many state, city and county civil service retirement plans do the same.

    https://www.benefits.va.gov/gibill/post911_gibill.asp

    There are educational benefits. You have to read carefully to ascertain how many AD years post-SA are required to gain the full educational benefit. I am fairly sure it’s more than 5. Universities who are certified as Yellow Ribbon schools provide added benefits in terms of additional scholarships and in-state tuition rates.

    If you have any documented service or combat-connected disability upon separation, VA health benefits may apply.

    Veterans may use the DVA as their primary care provider. Too complicated to explain how that works here.

    There are other benefits for veterans, which can be reviewed at va.gov

    Federal civil service jobs offer veterans’ preference points that give applicants a boost. Many state, county and city civil service positions do the same.

    Every state has its own veterans affairs agency or department, which offers additional or different benefits according to state. Their criteria for defining “veteran” may also differ from Federal. Benefits might include education at state schools, workforce development programs, breaks on license plate fees, etc. We get a break on our MD homeowner’s tax due to my DH’s disability status. Have some fun looking up your home state benefits.

    And, 10% off at Home Depot! Many merchants offer permanent or seasonal discounts to AD, Guard, Reserve, veterans.

    You also join the ranks of millions of brother and sister veterans who have chosen to serve, with the right to share inside jokes and sea/war/air stories with shipmates/battle buddies and wingmates. Priceless.
     
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  4. MidwestDad

    MidwestDad Member

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    The new DoD 'blended retirement system' now offers a 401K option so you can get a head start on a nest egg vs leaving with zero toward a pension.
     
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  5. Capt MJ

    Capt MJ 10-Year Member

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    The military became eligible to use the Thrift Savings Plan, the government version of a 401k retirement savings plan, in 2001. The new BRS adds some twists and options for the pension plan.

    TSP info at www.tsp.gov
    You cannot contribute to TSP as a mid or cadet, but as soon as you commission, you can.
     
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  6. WinstonWolfePF

    WinstonWolfePF Member

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    The DoD has offered a 401K (the Thrift Savings Plan) for some time now, but the change that the BRS implements is that the government will now match up to 5% of your base pay in the TSP traditional IRA only (even though your contribution can go into either the roth, traditional, or both). You could contribute to the TSP before and get out before retirement with that nest egg, but there was no government matching. The trade-off here is that you get less % of your base pay at retirement with the BRS compared to the old retirement system (called the High 3) at over 20 years of service.
     
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  7. Devil Doc

    Devil Doc Teufel Doc

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    My son was supposed to do instructor duty at TBS 2 years ago but they diverted him to CENTCOM FWD for a year. After that, his monitor said the only way you'll stay in the Fleet is if somebody requests you at their command. Well, he ending up at 1st Marine Division going on seven years with a B billet (sea duty for sailors).

    I tell the story because his intention was to start a master's using TA if he was ever in one spot long enough. I recommend taking as many credits on the government dime as you can. The GI Bill has been strengthened to include no time limit on finishing number of months authorized. I squeezed two master's degrees from the GI Bill. Not any smarter but I have cool initials after my name and they pay me more.
     
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  8. 0302grnt

    0302grnt Member

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    You also join the ranks of millions of brother and sister veterans who have chosen to serve, with the right to share inside jokes and sea/war/air stories with shipmates/battle buddies and wingmates. Priceless.[/QUOTE]

    Roger That!