Defined Benefit Retirement Plan
These are features of the Army NAF Retirement Plan:
- Effective 1 Jan 01, participation mandatory for new hires, re-hires and newly eligibles for the first 6 months of eligibility
- Costs you 2% of Gross Wages
- 5 years participation > You will receive monthly benefit at retirement for life
- Your contributions normally are returned within 1-3 years of monthly retirement benefits, then for the rest of your life, you will receive all NAF money. And your spouse will receive a benefit for the rest of his/her life too if you pre-decease your spouse.
- May purchase up to 5 years of military service (provided the military service is not already providing you a retirement benefit, or you have not used the military service in another company's retirement plan) - Military Service Purchase Program
- Credit for service of non-redeposit of retirement plan refunds
Retirement Plan Information Material:
Retirement Plan Documents
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