How much is military retirement pay for e-7?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

An E-7's retirement pay depends on his-her years of service, but it would be at least $ 28,000 / annually
Assuming they served only 20 years-
Short answer: Roughly $2,000 a month.
Long answer:
It will depend on the retirement plan the service member picked.
If the service member picked the high three retirement plan then they will average the service members base pay over the last three years. Then whatever the amount is they will give them 50%. They will gain an additional 2.5% to their retirement for every year over 20- therefore someone retiring at 22 years will received 55% of their high three.
If the service member picked the REDUX plan then they should have received $30K at their 15 year mark and they will only get 40%. But every year over 20 the service member will gain 3.5% So a service member who retires at 22 years will get 47% of their base pay plus they already received the $30K.
One last thing to consider is if the service member picked the Survivor Benefit Plan (SBP). That program will be taken out of the retirement money if it is chosen.
20 people found this useful

Can the IRS garnish military retirement pay?

Answer . \nLegally, no, (USC 101-501.\n. \nIs it done, yes.\n. \nEven though military retirement benefits are legally exempt from IRS garnishment, it is sometimes allowe

How much does the military pay for technology?

Answer . This figure isn't available because no one want's to disclose what types of new weaponry is planned for the wars of the future. It is huge. China for example has

How much is military pay?

People in the military receive their pay based on how many yearsthey have been in the military and how high their rank is. Base payfor a private with less than 2 years of expe

Can military retirement pay be garnished?

Can my military retirement be garnished by a non-government agency? Can my military retirement be garnished? military retirement pay can be garnished through the governme

What states have the lowest taxes on retired military pay?

States that don't tax retired military pay:. Alabama, Alaska, Florida, Hawaii, Illinois, Kansas, Louisiana, Massachusetts, Michigan, Nevada, New Hampshire, New Jersey, New Yo