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CSB
Career Status Bonus
| Question | Answer |
|---|---|
| What Does CSB Stand for? | Career Status Bonus |
| How Much is the CBS? | $30,000 |
| CSB is for? | Eligible MBRs who elect to receive the bonus and execute a written agreement to remain on AD to complete 20 years of service |
| CSB is Given in Exchange for? | 5 years OBLISERV and agreement to retire under REDUX |
| DIEMS Stands for? | Date of Initial Entry to Military/Uniformed Service |
| MBRs Eligible for CSB Must Have a DIEMS Date on or After? | 01AUG1986 |
| The CSB is Not? | Military retired pay and therefore not subject to division under Uniformed Services Former Spouses Protection Act |
| REDUX COLA? | Subject to reduced COLA adjustments with a one-time catch-up at age 62 |
| To be Eligible to Elect CSB, a MBR Must Meet All Four Conditions: | Be on AD, Complete 15 years of AD, Have a DIEMS DT of 01AUB1986 or later and have no administrative or punitive action pending that may result in separation prior to 20 full years of AD service |
| Notification of Members? | PPC (MAS) will notify all MBRs six months prior to the MBR reaching 15 years of AD |
| CSB Form? | CG PPC-2426 |
| The CG PPC-2426 Must Be Completed and Witnessed Before? | The day the MBR reaches 15 years of AD service |
| If PPC (MAS) Fails to Notify the MBR Six Months Prior to Their 15 year Anniversary? | The MBR will have until the date that is six months after the notice is issued |
| Changing Elections? | CSB election may be changed anytime before the effective DT, but cannot be changed once it is in effect |
| Payment Options? | Lump Sum of $30,000, Two Installments of $15,000, Three of $10,000, Four of $7,500 or Five of $6,000 |
| When Payment Will be Received? | No earlier than the 15 year anniversary and no later than the first day of the third month after 15 year anniversary |
| When Supplement Installment Payments Will be Received? | January |
| Tax Exclusions? | Combat Zone on the 15 year anniversary DT, portion contributed to TSP or if the MBR is a legal resident of PR and is stationed outside of the US |
| Repayment of Bonus? | If the MBR does not complete 20 years of AD service they must repay a prorated amount of their bonus |
| Repayment Must be Waived if the MBR? | Dies, is separated or retired due to a physical disability or is separated under an early retirement or separation program |
| Upon Receipt of the CG PPC-2426 the MBRs Command Must? | Review and verify sections I and II |
| If the MBR is Ineligible for CSB the Command Must? | Correct block 7 on the CG PPC-2426 |
| The CO or His/Her Designee Shall? | Witness MBRs signature on the CG PPC-2426 |
| After the MBR Signs the CG PPC-2426 the Command? | Distributes the original form to PPC (MAS), gives the MBR a copy and forwards a copy to the SPO |
| CSB is Taxed at? | 28%, and each installment |
| CSB REDUX High-3Year Basic Pay? | 40% |
| High-3 Year Basic Pay? | 50% |
Created by:
ashleycoker