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Career Status Bonus

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
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