1. What is the Military Retirement Pay Calculator?

Definition: This calculator estimates military retirement pension for 2024 based on years of service and high-3 average pay.

Purpose: It helps service members project their retirement income under the High-3 retirement system.

2. How Does the Calculator Work?

The calculator uses the standard military retirement formula:

Where:

• \( Pension \) — Annual retirement pay
• \( Y \) — Years of creditable service
• \( H3 \) — High-3 average basic pay (average of highest 36 months)

Explanation: The formula calculates 2.5% of the high-3 average pay for each year of service.

3. Importance of Retirement Planning

Details: Accurate pension projections help service members plan their post-military finances and transition to civilian life.

4. Using the Calculator

Tips: Enter your total years of service (including partial years) and your estimated high-3 average pay. All values must be > 0.

5. Frequently Asked Questions (FAQ)

Q1: What is the High-3 retirement system?
A: It calculates retirement pay based on the average of the highest 36 months of basic pay, typically the last 3 years of service.

Q2: Does this include COLA adjustments?
A: No, this shows base pension before any cost-of-living adjustments that begin after retirement.

Q3: What's the maximum retirement percentage?
A: The maximum is 75% of high-3 pay, reached at 30 years of service (2.5% × 30 years).

Q4: How is partial year service calculated?
A: Each month counts as 1/12 of a year. For example, 20 years 6 months = 20.5 years.

Q5: Does this apply to BRS (Blended Retirement System)?
A: No, this calculator is for the legacy High-3 system. BRS uses a 2.0% multiplier.