Navy Reserves Pays and Benefits Drill Pay & Annual Training Pay As a member of the Navy Reserve, you will: •Receive four days of base pay for every two days of traditional weekend drilling or the equivalent of that if taking advantage of flexible drilling options •Receive full Active Duty pay and allowances for meals and housing during your two-week Annual Training •Be compensated for any additional days you choose to serve Basic pay and allowances for Navy Reservists are derived from the same pay scale that applies to Active Duty Navy personnel. The amounts are prorated for part-time service and based on your individual pay grade and time in service Active Child Duty Pay Whenever serving in an Active Duty status, members of the Selected Reserve are entitled to the same pay, allowances and benefits as other Active Duty personnel of equivalent rank, time in service and qualifications. This includes routine Annual Training. This also includes any Reserve service in a Full-Time Support role as well as any time spent on deployment. Monetary Bonuses & Special Pay Beyond normal pay, there are additional pay incentives that may potentially be available to Reservists. These include: •Affiliation bonuses or sign-on bonuses (depending on your background) that you may qualify for •Reenlistment/conversion bonuses for qualified Enlisted candidates (with current or prior military experience) who convert to undermanned ratings •Special pay for special skills (such as aviators) and special duty (such as hazardous duty) or for serving in high-demand career areas (such as health care) Raises & Promotions Reservists receive all general military increases in pay, such as cost-of-living increases and additional pay increases for years of accumulated service. These increases are paid out at the same percentage as those serving on Active Duty. Advancement in the Navy Reserve is based on the same guidelines and principles as those of Active Duty. Promotions are based upon abilities and performance as well as the overall needs of the Navy. Assistance available through the GI Bill Since originally being signed into law in 1944, the GI Bill has long provided eligible servicemembers and military veterans with outstanding training and education opportunities. Today, depending on background and experience, Reservists can receive benefits through a variety of GI Bill programs – and there’s the possibility of qualifying for more than one program. Get highlights of some of the most common GI Bill benefit programs below and determine which option is right for you. Post-9/11 GI Bill The Post-9/11 GI Bill is a benefit program that provides generous educational assistance to those with qualifying Active Duty service on or after September 11, 2001. In general, eligibility requires a minimum of 90 days of aggregate service for Reservists since this date, or at least 30 days of continuous Active Duty service if discharged due to a service-connected disability since this date. Approved training through the Post-9/11 GI Bill includes: •Undergraduate and graduate degrees •Vocational/technical training •Licensing and certification test reimbursement The available benefit depends upon your qualifying length of service. At its maximum, the Post-9/11 GI Bill essentially gives recipients the ability to receive an in-state, undergraduate education at a qualifying public institution at no cost. To receive the maximum payout, you must have 36 months of aggregate service on or after September 11, 2001. Here are some of the key points to keep in mind about the Post-9/11 GI Bill: •This benefit is non-contributory, meaning it is available without having to buy in •It can provide tuition and fees for college – including potential funding for books and supplies along with a monthly stipend to help with expenses •It may be possible to transfer the benefit to eligible family members (including spouse and children) Reserve Educational Assistance Program (REAP) The Reserve Educational Assistance Program (REAP) is available to Reservists who complete a minimum of 90 days of Active Duty service in response to a war or national emergency (in support of a contingency operation) after 9/11. Advanced Degree Programs The Navy is involved with a number of graduate-level institutions that offer a variety of advanced degrees for eligible Reservists. Also, the Naval Postgraduate School in Monterey, CA, offers postgraduate study. This accredited college offers graduate degrees in a number of fields that are critical to the mission of the Navy and Department of Defense. Defense Activity for Non-Traditional Education Support (DANTES) Program Comprised of more than 1,200 colleges and universities nationwide, the Defense Activity for Non-Traditional Education Support (DANTES) Program allows you to pursue college and university independent study courses. The DANTES Program allows servicemembers to transfer credits from school to school and receive college credits for military training and experience. College Level Examination Program (CLEP) Reservists have the opportunity to take free College Level Examination Program tests. Along with credit from service schools and work experience, these nationally recognized tests can provide a convenient way for members to earn college credit toward an associate degree. Opportunities to earn professional credentials What you do in the Navy Reserve may meet civilian certification and licensing requirements, and you can make the most of that. Navy Credentialing Opportunities Online (COOL) Program Through the Navy Credentialing Opportunities Online program, Reservists can see their specialized training translate into credentialing, certification and/or licensure opportunities from a number of national boards and organizations. Retirement Whether drilling, attending Annual Training or spending time in an Active Duty role, your time served as a Navy Reservist counts toward Navy Reserve retirement. Learn how you accumulate retirement points, how duty status factors in and how much retirement income you may expect to receive. RETIREMENT PAY PLANNING As a Reservist, you will become eligible for retirement pay at age 60, following 20 years of qualifying service (Active Duty with Reserve or Reserve alone). Retirement benefit amounts vary, depending on individual pay grades and total Active Duty and Reserve time. If a Reservist dies before reaching age 60, an optional Survivor Benefit Plan will provide an annuity to eligible beneficiaries. •For those serving now or those who have served before: The Reserve presents a great way to make the most of the time you’ve already invested. •For those who have never served: The Reserve presents the opportunity to earn a generous retirement package in addition to other substantial benefits. Health-Care Insurance Depending on duty status, Reservists and their qualifying family members may be eligible to receive medical benefits and dental benefits through TRICARE – the Department of Defense health-care program. This program brings together health resources of the armed services and supplements them with civilian resources to complete your health-care coverage. You will also have use of military facilities in the event of illness or injury during training periods. Life Insurance Term life insurance is available to Reservists under the Servicemembers’ Group Life Insurance (SGLI) plan. It offers up to $400,000 of full-time coverage at affordable rates. Term life insurance is also extended to the spouses and dependent children of Reservists under the Family Servicemembers’ Group Life Insurance (FSGLI) plan. It offers up to $100,000 of full-time coverage for spouses at affordable rates and automatic $10,000 coverage at no cost for eligible dependents. navyreserves
Posted on: Tue, 22 Oct 2013 00:36:17 +0000