Military Reserve Retirement Benefits
When deciding whether or not to join the military reserve many potential recruits see it only as a way to pay for college or supplement their current income. However, the military reserve helps it members in the long run by providing retirement benefits. If reserve members serve for at least 20 years they are entitled to a monthly retirement check and get other benefits like health care and retirement housing.
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Requirements
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Members of the reserve component must serve at least 20 years and earn at least fifty points per year. Points are earned for a number of reasons. You get one point per day of service in an activated unit. You earn a point each time your unit gathers for training, each time you serve in a funeral honors duty status or when you complete three units of accredited correspondence courses.
Retirement Systems
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Retirement payments don't start until age sixty, so even if you have served 20 years you may have to wait before you actually stat collecting benefits. Once you near the twenty year service mark a choice must be made: stay in the Ready Reserve, transfer to the Retirement Reserve, or leave the Reserve Component altogether.
Staying in the Ready or Retired Reserve will earn longevity points which go towards your retirement benefits when you reach age 60. If you leave the reserve component altogether you will still get your monthly retirement payment, but it will not be supplemented by longevity points.
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Health Care
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There are other benefits that retirees receive in addition to a monthly check. They get access to doctors and medial facilities on base for little to no cost. There are also off-base VA facilities that are available to retirees. Though the military advises it members not to rely entirely on the VA medical care system, it can be a useful resource to have as an alternative option.
Space-Available Travel
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Retirees are also eligible to travel aboard military aircraft when space is available. The family of retirees can ride on stateside flights for free while the retirees themselves can also take international flights. There is a small fee if commercial connecting flights are used.
Base Access
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If a retiree elects to stay in the reserve, then they will retain their rank. They will receive an identification card that confirms this status and gives the owner unlimited access to the base commissaries (dining halls), post exchanges and recreational faciliteis. Some bases have movie theaters and even golf courses.
Retirement Housing
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Reserve retirement also provides access to retirement homes through the Veteran's Administration. The VA has 134 nursing homes around the country. They also have contracts with 2,500 private nursing homes. This systems helps to provide Reserve retirees with assisted living facilities should the time ever come that they cannot live alone.
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- Photo Credit Image by Flickr.com, courtesy of Randy
