1. What is the Military Retirement Calculator 2023?

Definition: This calculator estimates military retirement pension based on years of service and high-3 average pay using the 2023 formula.

Purpose: It helps military personnel plan for retirement by estimating their pension benefits.

2. How Does the Calculator Work?

The calculator uses the standard military retirement formula:

Where:

• \( Pension \) — Annual retirement pay ($)
• \( Y \) — Years of service
• \( H3 \) — High-3 average basic pay ($)

Explanation: The multiplier 0.025 represents 2.5% per year of service under the High-36 retirement system.

3. Importance of Military Retirement Planning

Details: Understanding your potential retirement pay helps with financial planning and transition to civilian life.

4. Using the Calculator

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

5. Frequently Asked Questions (FAQ)

Q1: What is High-3 average pay?
A: It's the average of your highest 36 months of basic pay (usually your last 3 years of service).

Q2: Does this include COLA adjustments?
A: No, this calculates base pension. COLA adjustments are applied annually after retirement.

Q3: What's the minimum years for retirement?
A: Typically 20 years for full retirement benefits under the legacy system.

Q4: How does the BRS (Blended Retirement System) affect this?
A: BRS uses a 2.0% multiplier instead of 2.5% for years served after 2018.

Q5: Are bonuses included in High-3?
A: No, only basic pay is used in High-3 calculations.