Navy Retirement Calculator – Factors to Consider
There are three different types of pay considered in the Navy retirement calculator depending on service; these are the Final Pay, High-3, and Career status bonus/redux. The main factor considered is whether or not the individual has completed twenty years of service to be eligible for retirement pay and benefits. The very basic retirement pay is half of whatever the individuals pay grade was at the time of retirement, of course there are other factors that can increase this. Retirement pay increases for every year of service completed beyond the twenty years, typically in increments of 2.5 percent. For every ten years after the completed twenty there are further increases and for forty years of service you can receive up to 100% of your final pay grade.
