Received a call from CG Retire Pay Center and I received some information that if someone is being medically retired due to service-connected disability, you do not fall under the Redux retirement anymore(30,000 at 15 years with 40% retire pay) which I elected in 2004. As of 1 Sept, I am medically retired with service connected disability at 50% retirement pay from CG. Now I fall under the high 3 retirenment plan and do not payback any money (30,000) to CG or receive 40% retirement. This was great news to hear. The difference of 10% = $350 a month. Every little bit helps these days. AST1 Larry Graham, retired......
Larry, You may want to ask the VA if that 30,000 is viewed by them as severance due to med retirement. If it is You will possibly have your VA Pay reduced until the entire 30,000 is recouped and then you will receive VA compensation. That 30,000 difference may cost you 1000.00 + a month Of VA Compensation for almost 3 years.
Castor, Thanks for the info. I would not think the VA would consider a Redux regular retirement as part of any disability or medical severence pay but who knows these days. I elected Redux before I was rated to be medically retired by the CG. Hopefully the VA will not consider the Redux as any type of medical pay, we will see. Thanks again
I retired with 20 years of service and at 50% permanent retirment by CG. Basically a medical retirement due to a disability by the CG and I filed a claim with VA. Now just playing the waiting game for a rating %. Thanks.
Glad to hear you did get to 20 years. I was medically retired after 20 also, But placed on the TDRL. Since you have over 20 I don't think the VA will be interested in the 30k situation. Had you been under 20 years it might have been an issue. Depending on where you live the VA can take years to give you a rating. If they rate you 50% or higher you will get CRDP. Good luck, if you have any questions post on the veterans thread or feel free to e-mail me through my profile.
Well...if the CSB did have to be repaid, it should be easy to do. After all, most folks invested the money in some sort of financial vehicle that would grow to some huge amount of money to offset their reduced pension, as well as the reduced annual COLA increases. So the money is most likely sitting in some account, ready to be redeemed and paid back.
It's a good thing most Coasties didn't buy a new truck with it, pay off credit cards, or fritter it away.
(Hang on a minute...I think I'm in a parallel universe.)
