Best Answer

For the US Army, pensions are based upon time in grade, years of service, and rank at time of retirement. 50% base pay at 20 years, 75% at 30 years. And collect immediately after retiring. For the US Army Reserves/Guard: they go by points and years of service. And collect at age 60.

User Avatar

Wiki User

โˆ™ 2008-09-22 10:44:51
This answer is:
User Avatar

Add your answer:

Earn +5 pts
Q: You are retired army officer what amount increased in pension after sixth pay comm for lt major?
Write your answer...

Related Questions

Why are retired people hurt by inflation?

Retired people usually have a fixed income. This means that they get the same amount from SS or a pension. The amount doesn't stay up with increased inflation. Things go up in price faster than their income pays them.

What will Obama receive after retiring from office?

He will receive a pension, which has been the law for any retired president since 1958. The base amount for this pension is $196,700.

What is pension deficit?

It is when there is not enough money to pay pensions. For example lots of companies have money set aside to pay their retired employees which is funded through existing employees paying into the pension scheme. If the amount of money to be paid to retired employees is more than there is in the pension fund, then the company has a pension deficit. At some point the money will run out.

What is considered full pension for rcmp officer?

RCMP officers can receive full pension after 25 years of service. After 20 years the pension can collected with a penalty. The maximum amount caps off after 35 years.

What is the latest pension of sergeant retired after fifteen years service in group one trade on 30 6 1988 in I A F?

what is the latest pension scale and total amount of those who served sixteen years and five months

What is the Average pension for retired UAW workers?

Forty seven thousand with32 years in caterpillar

What is the amount of pension granted to vice president of India?

no pension for vice-president after his retirement.

Can you draw a pension and unemployment in Tennessee?

As long as the pension is not in excess of the weekly benefit amount, unemployment may still be collected. In other words, if the UI benefit is 200 dollars, and the pension is less than that, the amount of the pension will be deducted from the benefit.

What is the average pension amount?

1200 a month

What should i know about retirement pension plan?

Retirement pension plans vary according to the country you live in, but as a general rule there are employer funded plans and state funded plans. Employer plans usually work by deducting an amount from your salary and the employer then contributes an equal amount to the fund. State plans usually depend on contributions made throughout the retired person's lifetime. A general explanation can be found at:

If a police officer commits suicide do his family get a police pension or not?

Depends on his policy. In most cases yes, but the family must wait 2 years to collect. Also, the amount may not be the full amount as if it were a line of duty death.

Can you withdraw only pf amount leaving pension amount?

Yes. When you try to withdraw your PF, only the PF amount will be given to you. The Pension amount goes into a different scheme and hence is not part of the PF corpus that you can withdraw.

What is the amount of a US president's pension?

The pension for former presidents is $196,700 at the present time(2012) plus money for an office and staff for four and one-half years after they leave office. This amount can be adjusted at will by Congress. It is currently tied to the pay of cabinet members. For most of America's history, retired presidents did not receive a pension. In 1958 Congress passed the Former Presidents Act, which gave retired presidents a pension of $25,000 per year, an office, and a staff. Truman and Hoover were the former Presidents in 1958. Presidents who want to make more money usually have no problems getting speaking engagements or getting their books published. They usually get offers to teach as a visiting professor and to serve on corporate boards.

Has the amount of uranium in Earth increased over geologic time Has the amount of lead in Earth increased?

The amount of uranium decreasesd, the amount of lead increased over geologic times.

Can you collect unemployment in Illinois while collecting a pension?

Retirement pension/Social Security is determined by using the follow- ing calculation: monthly amount of pension is divided by thirty (30) then multiplied by seven (7), which is the weekly pension amount. If the employer paid any part of the pension, then the weekly amount is divided by two (2) to determine one-half (50%). Primary Social Security benefits are always 50% deductible from your unemploy- ment insurance benefit amount. For example, an individual receives $1030.50 a month in retirement pension, of which the employer paid part of the pension and the weekly benefit amount is $331.00. The formula is as follows: $1030.50 ÷ 30 = $34.35 . . . . . . Daily Amount $34.35x7 = $240.45 . . . . . . . . . Weekly Retirement Amount $240.45÷2 = $120.225 . . . . . . . 50% of Weekly Amount $331.00 - $120.225 = $210.775 . . Round to Next Highest Dollar Benefit amount after retirement deductions . . . . . . . . $211.00

What are pension funds?

A pension fund is payable as soon as you get a job, it allows you to pay in a fixed amount of money to your bank, which can be collected at retirement. There are three different types of pension funds.

In Michigan can you collect unemployment and a pension?

Yes, if the pension is less than the unemployment you can get some unemployment.The unemployment will be reduced by the amount of the pension if the pension was contributed to by a base period employer.If the pension was not contributed to by a base period employer the unemployment amount will not be reduced.If the pension is from multiple employers, typical in the construction trades, it's unclear what happens. If anyone knows the answer to this please add it.See:

What has increased the amount of food produced and the reduced the number of farms and farmers?

they have increased the size of farms and the amount of food producedthey have increased the size of farms and the amount of food produced

What is an advanced funding approach inside pension plans?

I will attempt to answer your question based on my experience. I retired 2 years ago at age of 60. In my pension plan it was explained to me that I got extra money for 2 years monthly, until I turned 62 and started on social security. Then it went back to the original amount. So hope this helps out.

Can you draw unemployment in Kentucky if you have a pension?

You can still draw unemployment while having a pension provided you meet all other qualifications. The amount of the pension will probably be deducted from your UI benefits, however.

Why is sherbert bunny retired?

Webkinz get retired because not a lot of people buy them in a certain amount of time. Some Webkinz get retired when they first come out.

Does receiving a pension affect unemployment benefits?

It's possible it could. This depends on the particular state's laws regarding the type of pension, the structure of the pension, amount of offset against the unemployment benefit, etc.

If you receive a deceased person's pension do you have to claim it as income?

Sure you do have to report the pension amount on your 1040 federal income tax return and the taxable amount of the distribution will be taxed to you in the same way that it was taxed to the deceased taxpayer.

Do GTE employees have a pension?

Some GTE employees are entitled to a pension upon retirement. The amount of the benefit will vary based on age and years of service.

How much do pensioners get on pension per month?

this depends on the amount of money the person puts into their pension every so often whilst they are working.