ANY HELP WOULD BE GREATFUL

Well, you won't find one at your local electronics store. Chapter 3 of the CG Personnel Manual has dedicated a whole section on Bonuses, and there are many different scenarios. The basic equation is:

SRB MULTIPLE X MONTHLY BASIC PAY X MONTHS NEWLY OBLIGATED SERVICE DIVIDED BY 12.

thanks. i was told that i have to reup so i can get the orders. i have 3 years left on my current enlistment. and i hit 8 years this oct. i am a mk1. any help would be greatful.

Take a look at ALCOAST 286/08. Here is the new formula.
6. EFFECTIVE 16 JULY 2008, SRBS WILL BE PAID LUMP SUM ACCORDING TO
THE FOLLOWING FORMULA (SRB MULTIPLE X MONTHLY BASIC PAY X MONTHS
NEWLY OBLIGATED SERVICE) /12, MINUS 25 PERCENT TAX WITHHOLDING IN
LUMP SUM.

thanks for your help

96, that formula hasn't changed in I don't know how many years. The only difference between what you provided and Mr. Pilkington stated is the deduction for taxes, which all YNs should be counselling members on anyway. So technicially, it's not a "new" formula, just being reminded about being taxed.

Now, everyone knows that the 25% doesn't get deducted if reenlistment will occur in a tax-free zone.

..also to add to that, folks should understand that it is TAX WITHHOLDING, not TAX. Most folks will get a sizeable chunk of that 25% back come tax-filing time. (of course, consult your accountant)

MK1,
Don't forget, you have to use Newly Obligated Service. So, if you still have 3 years left and you reenlist for 6, your bonus will be based on 36 months of newly obligated service, not 72. I'm sending you a calculator. Also, verify with your Yeomen (and check Chapter 4 of the Personnel Manual on obligated service) that you have to obligate a full tour. It sounds like you don't have a problem with reenlisting, however you should know all of your options. I highly encourage that you read Chapter 3.C of the Personnel Manual as well, since it talks about maximizing your bonus earnings. Make sure, once you decide what you are doing, that you are provided a page 7 with the specifics of your bonus information. If you don't get a page 7, don't sign your contract. Make sure you understand everything, as it is easier to get the bonus correctly than to get through a BCMR.

quote:

..also to add to that, folks should understand that it is TAX WITHHOLDING, not TAX. Most folks will get a sizeable chunk of that 25% back come tax-filing time. (of course, consult your accountant)

Just curious, how do you come up with that? I got hosed on my taxes when I got my last bonus. I guess I should have talked to a professional.