The following pertains to a regular retirement (i.e., 20 years AD):Retired in 2014 under the CRDP.
20yrs AD Regular retirement @50%.
$5000×.50= $2500 monthly
VA 100%p/t with wife and child= $3300 monthly
Received CRSC rating @90% today.
Ron, what will my projected outcome be under the CRSC pay scale.
CRDP is taxable; CRSC is non-taxable.Thank you so much....That is what i was thinking, but did not know if the remaining $400 was taxed.
Obviously, your annual taxable income would be reduced by $30,000 at a cost of $4816.56 (loss of retired pay). Your overall tax situation very well might be improved by accepting CRSC since you are paying $8K for taxes at the end of each year. Visiting with your financial advisor is an excellent plan.Ok, good to know...the wife and i have to sit down with our financial advisor and see what is better for us. Currently paying about $8k in taxes yearly even after selecting the married with 0 tax option so this just might be the answer to future savings. Overall this is a good problem to have...again thanks for all you do to help us veterans. Happy Holidays.
v/r
Sam
Retired in 2014 under the CRDP.
20yrs AD Regular retirement @50%.
$5000×.50= $2500 monthly
VA 100%p/t with wife and child= $3300 monthly
Received CRSC rating @90% today.
Ron, what will my projected outcome be under the CRSC pay scale.
Thank You
John, i am retired Army. I submitted for crsc back in May 2018 and was told it would take about 12 months....I guess I was lucky seeing my case was completed early December 2018.
Good Luck,
Sam
1. H-3 5793 x 70% DoD = 4055.10 retired pay. You say 3845 gross DoD retired pay. 3845/ 0.70= 5492.86 high three. One of the figures you provided seems to be wrong. Please clarify.Ron, I've been checking out these forums for awhile and would really appreciate some help estimating my CRSC.
Retired Army CPT - 7 yrs 8 months AD, Medical Retirement
High 3: $5793
VA Waiver: $2250
Married with 3 children under 18
70% DoD, 90% VA
CRSC Approved at 70%
Monthly Gross Pay is $3845
Thanks in advance, Ron!
Dan,Hey Ron,
I followed the calculations using the H-3 of $5492, and came up with $1053 at item 6.
However, I don't quite understand item 6 being reduced by residual retirement pay.
Can you help me finish this off?
Actually, you are doing better than most, since you have a large amount of residual retired pay. Most do not have residual retired pay. Your residual retired pay is >$500 than CRSC.Hey Ron,
Two follow-up questions for you, Sir:
1. Would there ever be a scenario for me where I will receive a positive amount for the CRSC, as opposed to my current No Pay Due situation? For instance, If my VA rating moves from 90% to 100%? Or can I just count on never receiving anything?
2. Will a "CRSC Pay Statement" still post to my MyPay account even though I will receive $0?
Thanks in advance
v/r
Dan