Showing posts with label Involuntary Separation Pay (ISP). Show all posts
Showing posts with label Involuntary Separation Pay (ISP). Show all posts

Jul 11, 2012

Survey Finds Military Families Concerned About Involuntary Separation

"...Current defense downsizing efforts are prompting new financial fears in middle-class military households, with the majority of families worrying that they will be forced to leave active-duty service before qualifying for lifetime retirement benefits.

Recent survey findings from the First Command Financial Behaviors Index® reveal that 67 percent of middle-class military families (senior NCOs and commissioned officers in pay grades E-6 and above with household incomes of at least $50,000) are concerned about the increased possibility of involuntary separation. An early forced exit from the armed forces is seen as a serious financial threat by many active-duty families, with almost nine out of ten hoping to qualify for a traditional military retirement by completing at least 20 years of service..."

Read more at Fort Stewart, GA Patch

Apr 2, 2012

Reminder for Sailors affected by ERB

"...All Sailors involuntarily released from active duty, to include Sailors affected by the Enlisted Retention Board, may be eligible for Involuntary Separation Pay (ISP). All Sailors who apply for ISP must obligate in the Ready Reserve for a minimum of three years past their initial military service obligation..."


Read more at military.com

Mar 26, 2012

Half of senior NCOs to face separation boards

"...Pentagon officials estimate that about 4,000 NCOs, most of them retirement-eligible, will be selected for involuntary separation from active duty in fiscal 2013.

Several thousand Army Reserve NCOs also will be screened by the Active Guard and Reserve (Army Reserve) boards that meet simultaneously with the Regular Army boards.

The reviews will not involve National Guard soldiers or members of the non-AGR elements of the Army Reserve..."


Read more at Army Times

Jan 30, 2012

Involuntary Separation Pay (ISP) and Military Retirement

"...Members who receive separation pay and later qualify and collect military retirement pay are required to repay their separation pay. Repayment may be deducted from the members retirement pay..."

Read more at public.navy.mil