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Air Force Benefits – Retirement. Those who serve in the military for at least twenty years are eligible for retirement from the Air Force. That is one of the earliest retirements around. All Airmen are also eligible for the Thrift Savings Plan (TSP). For every year of service the military member earns 2.5% towards his retirement.Does the Air Force have a pension?
Unlike most retirement plans, the Armed Forces offer a pension (technically a "reduced compensation for reduced services.") with benefits, that start the day you retire, no matter how old you are.How do you calculate military retirement income?
Basic Pay and Retirement Pay. Calculating military retirement pay starts with your basic pay, which is the monthly salary on active duty. If you first entered military service on or before September 8, 1980, your final basic pay is multiplied by a percentage called a multiplier to determine retirement pay.How do you calculate retirement points for Air National Guard?
The formula to calculate monthly National Guard retirement pay is the basis times a multiplier. The multiplier equals years of service times 2.5 percent. Suppose a person retires with the rank of major after 20 years. He has enough points to be credited with 4.5 years, which you multiply by 2.5 percent for a multiplier of 11.25 percent.