Retirement Planning

National Guard Family Program
Soldier with child riding piggyback Introduction to Personal Finance

An Overview for State Family Program Directors, Wing Family Program Coordinators, and Families.

 

Introduction

Evaluating Your Situation

Budgeting & Debt Management

Goals & Plans

Insurance & Disability Planning

Investment Planning

Education Planning

Retirement Planning

Estate Planning

 

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RETIREMENT PLANNING

 

7.

Introduction

 

7.1

Requiremets for a Reserve Retirement

7.2

Retirement Income and Planning

7.3

Thrift Savings Plan (TSP)

7.4

401(k) and 403(b) Plans

7.5

Traditional IRAs

7.6

Roth IRAs

7.7

Annuities

7.8

Self-employed Plans

7.9

Learning Check

 

7.1 Requirements for a Reserve Retirement

One of the many benefits of serving in the National Guard is the opportunity

to qualify for a non-regular or Reserve retirement.

The basic requirements to qualify for a Reserve retirement are:

Happy retirement

  1. Attain 20 qualifying years of service – a qualifying year

    of service is credited for each year in which the member has

    earned at least 50 points during his or her anniversary year.

  2. Serve the last eight years in a Reserve Component. During

    the draw-down period, which expired December 31, 2001, the eight-year

    requirement was reduced to the last six years.

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