Military retired dating
Form DD 2656 is the most important document you will complete in preparing for your retirement.
As you fill it out, you will make decisions that will determine: Please prepare for this meeting carefully.
First and foremost, there is no "vesting" in the military retirement system.
There are no special retirement accounts, no matching funds provision, no interest.
The decisions you make at the time of retirement affect the amounts of your benefits and of your survivor's benefits.
Some decisions cannot be changed, so careful consideration of all options is crucial.
The military retirement pay system used to be easy to understand: You put in 20 years, and you got 50 percent of your base pay immediately upon retirement.
For example, a person who entered active duty on or before 8 September 1980, and spent 22 years on active duty, would receive 55% of his/her base pay as retirement or retainer pay.Submitting your Form DD 2656 When all your documentation is assembled, it will be time for you to meet with your Personnel Support Detachment (PSD) office.They will provide you with a copy of the Data for Payment of Retired Personnel Form (DD 2656) and offer you assistance in filling it out.You either qualify for retirement by honorably serving over 20 years in the military, or you do not.If you are discharged from the military with 19 years, 11 months, and 27 days of service, for example, you do not qualify for retirement pay (other than a few "early retirement" programs, which were designed to reduce the size of the armed forces).