Military retirement: stay or go?

  • Published
  • By Senior Airman Chad Warren
  • 2nd Bomb Wing Public Affairs
BARKSDALE AIR FORCE BASE, La. --  Retired Chief Master Sgt. Larry Gonzales visited Barksdale to educate Airmen about the benefits of military retirement April 6.

Breaking down civilian and military retirement plans side-by-side is beneficial to Air Force Global Strike Command Airmen stationed here who are undecided about their military future.

Mr. Gonzales spent 30 years in the Air Force and served as the financial management career field manager. His briefing highlighted the benefits of military retirement, although he insists that it is not meant to persuade anyone to retire.

"I am not trying to convince anyone that military retirement is the right choice for them," Mr. Gonzales said. "I simply want people to be able to make an informed decision."

Mr. Gonzales' briefing went into detail about aspects of retirement that most people do not consider when making a choice about their future, a mistake that Mr. Gonzales says can cost military members money in the long run.

"People have to take everything into account and consider more than the initial dollar amount," Mr. Gonzales said.

One major benefit of military retirement is the retiree cost of living adjustment. Similar to military base pay, retiree pay is adjusted annually to off-set inflation. This continued growth after retirement is one benefit that this type of plan has over most corporate retirement plans.

Airman 1st Class Joseph Senteno, 2nd Comptroller Squadron budget technician, knows the importance of planning for the future and was on hand to learn from Mr. Gonzales.

"His 30 years of knowledge and experience in the financial management career field and the Air Force is so valuable," Airman Senteno said. "He also understands the importance of retirement and making the most out of your career."

Airman Senteno, like most junior enlisted service members, has a long time before he has to make a decision about retirement, but it is never too early to start planning.

For those who did not get the opportunity to hear Mr. Gonzales speak, he urges that everyone utilize all of the tools available to make an informed and educated decision about retirement.