@Anonymous wrote:
Yes, you read that right. There actually is a system in this world that is more complicated, muddy and riddled with secret formulas than FICO...
It is.... DRUM ROLL....
THE VA DISABILITY SYSTEM!
Oh MY GOSH. I'm helping DH wend his way through the system, since he's FUBAR from this brain tumor and doesn't have the memory or stamina to do it himself now.. and it's just a mess. Now I have something other than myFICO to take up my time, at least!
Are you talking about the FERS disability benefit? If so, then yes, it is confusing. But here's how it works in a nutshell, using some hypothetical numbers.
Let's say the your DH's average high-3 pay was $100,000. Let's also say that according to his Social Security statement (the one with the green-and-black letterhead that you get every year), he is entitled to $1000 a month, or $12,000 a year.
Through FERS, in the first year your DH would get 60% of his high-3 pay MINUS his SS disability. He'd still get his full Social Security benefit. Basically, FERS is ensuring that he gets no more than 60% of his pre-disability income, and is making sure that it doesn't pay any amount that is supposed to be paid by Social Security.
So the first year, from FERS your DH would get (60% x $100,000) - $12,000 = $48,000. From Social Security, he would get $12,000. The net result is that in the first year he'd get exactly 60% of his pre-disability income. It's a convoluted way to get to a fairly straightforward number.
For the second year on, the benefit formula is changed and is more confusing. He would get 40% of his high-3 MINUS 60% of his Social Security. So using the numbers above, his yearly benefit would be (40% x $100,000) - (60% x $12,000) + $12,000 = $44,800.
Simple, huh?
He's retiring from AD military service, not fed service. So FERS doesn't apply 
It's a whole other system and most of the sea lawyers that have given us well-meaning advice are either fresh retirees themselves, or salty old 'Nam vets
All well-meaning but not entirely informed. And a few are just plain angry! I just got the # of a VSO on the base that is going to help us with the VA26-526 form.
The whole thing is even more complex because some of his disabilities may be permanent, but they won't know for another year or two as he continues to heal from the neurosurgery! Gaaah!
It's a whole other system and most of the sea lawyers that have given us well-meaning advice are either fresh retirees themselves, or salty old 'Nam vets All well-meaning but not entirely informed. And a few are just plain angry! I just got the # of a VSO on the base that is going to help us with the VA26-526 form.
The whole thing is even more complex because some of his disabilities may be permanent, but they won't know for another year or two as he continues to heal from the neurosurgery! Gaaah!
He served in GTMO in support of OIF and just got back in Sep 07 from Iraq for OEF. "Expedited" and "VA" are kind of oxymorons, aren't they?
His actual retirement date is five months away right now, so we'll hopefully have it all submitted by next month and then just wait on the DD214 to complete it all. blegh. The only thing that won't be included is a "hard landing" helo crash in N Iraq.. that's because the two others he was on the flight with are now dead, so they can't give supporting statements We're looking at a healthy sum, which I'm grateful for, esp if he has a hard time finding work at first because of left-over tumor issues.
Oh, and he will NOT be working fed after retirement! nooo waay... probably as a gov contractor, simply because there's less math involved! LOL
His actual retirement date is five months away right now, so we'll hopefully have it all submitted by next month and then just wait on the DD214 to complete it all. blegh. The only thing that won't be included is a "hard landing" helo crash in N Iraq.. that's because the two others he was on the flight with are now dead, so they can't give supporting statements
We're looking at a healthy sum, which I'm grateful for, esp if he has a hard time finding work at first because of left-over tumor issues.Oh, and he will NOT be working fed after retirement! nooo waay... probably as a gov contractor, simply because there's less math involved! LOL