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5.3.4

CSB

QuestionAnswer
The CSB is given in exchange for what? 5 years obligated service, An agreement to retire under the Military Retirement Reform Act of 1986 (REDUX)
What Four Conditions must be met in order for a member to receive the CSB? Be on active duty, Complete 15 years of Active Duty service, Have a DIEMS of 1 Aug 1986 or later, Qualify under Coast Guard regulations or policy for retention to 20 years of active duty service.
What Form is used to select or decline the CSB? CG PPC 2426
When is the effective date of election for the CSB? The date that the mbr has completed 15 years of service; CG PPC-2426 must be completed and witnessed before the day the mbr reaches 15 years of active service (or not later than six months after issuance of 2426) in order for the mbr to receive the CSB.
How can a member change their CSB election? Once the effective date of election has passed, the member cannot make changes to the CSB election.
What are the possible payment selections for the CSB? Lump Sum of: $30,000.00, two Installments of: $15,000.00, Three Installments of: $10,000.00, Four Installments of: $7,500.00, Five Installments of: $6,000.00
When will PPC (MAS) issue payment of the CSB to the member? Not later than the third month after the member completes 15 years active service.
Members who elect the CSB will receive a one-time COLA catch up at what age? Age 62
Who must witness the CSB Election? Commanding Officer or higher designee
In what month each year does PPC (MAS) issue the CSB installment payment? January
Members who elect the CSB will receive a one-time COLA catch up at what age? Age 62
Who must witness the CSB Election? Commanding Officer or higher designee
In what month each year does PPC (MAS) issue the CSB installment payment? January
Created by: Sansha