Episode 0004 The Notice of Eligibility for Retired Pay TwentyYear Letter

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Here is a quick discussion about the notice of eligibility for retired pay or, as it is more colloquially known, the twenty-year letter. It's been a busy week so it took a little while to produce this episode. Enjoy. • References: • 10 USC §12731(d) • The Secretary concerned shall notify each person who has completed the years of service required for eligibility for retired pay under this chapter. The notice shall be sent, in writing, to the person concerned within one year after the person completes that service. The notice shall include notice of the elections available to such person under the Survivor Benefit Plan established under subchapter II of chapter 73 of this title and the Supplemental Survivor Benefit Plan established under subchapter III of that chapter, and the effects of such elections. • 10 USC §12642 • (a) To be retained in an active status, a reserve commissioned officer must, in any applicable yearly period, attain the number of points under section 12732(a)(2) of this title prescribed by the Secretary concerned, with the approval of the Secretary of Defense in the case of a Secretary of a military department, and must conform to such other standards and qualifications as the Secretary concerned may prescribe. The Secretary may not prescribe a minimum of more than 50 points under this subsection. • (b) Subject to section 12645 of this title, a reserve commissioned officer who fails to attain the number of points, or to conform to the standards and qualifications, prescribed in subsection (a) shall- • (1) be transferred to the Retired Reserve if he is qualified and applies therefor; • (2) if he is not qualified or does not apply for transfer to the Retired Reserve, be transferred to an inactive status, if he is qualified therefor; or • (3) if he is not transferred to the Retired Reserve or an inactive status, be discharged from his reserve appointment. • (c) This section does not apply to commissioned warrant officers or to adjutants general or assistant adjutants general of States, Puerto Rico, and the District of Columbia. • “ The Basics of Reserve Retirement” • • Episode 0003 - The Basics of Reserve ... • Related Topics (some may not be published yet so stay tuned for more to come) • 15-Year Letter • How to Read a Retirement Points Statements • How to Read a Leave and Earnings Statement • Reduced Retirement Age • The Reserve Component Survivor Benefit Plan (RCSBP) • The Survivor Benefit Plan (SBP) • Deferred SBP (Option A) / Changing SBP • The 6-Year and 8-Year Rules • IRR as a Semi-retirement Option • What is a “Good Year”? • What is the Grey Area? • R.C. Retirement is not recognized or endorsed by the Department of Defense, the Department of Veterans Affairs, or any government agency and is for informational and entertainment purposes only. The content on this site should not be considered professional financial advice. References to third party products, rates, and offers may change without notice. We may receive compensation through affiliate or advertising relationships from products mentioned on this site. However, we do not accept compensation for positive reviews; all reviews on this site represent the opinions of the author. • The content presented is drawn and collated from the author's vast personal experience in military retirement as well as from military and civilian sources in the public domain. While every effort is made to deliver up to date and accurate information, we strongly recommend that you consult with an attorney and / or a financial planning professional familiar with your situation before making any decisions. • First Call by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/...) • Source: http://incompetech.com/music/royalty-... • Artist: http://incompetech.com/

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