my life 2007

Barring further unforeseen developments.

You know how you wake up sometimes thinking to yourself, "Self, I wonder what benefits I qualify for should the AF boot me?" Well, I also had one of those thoughts this morning and have found a few answers for you.

Welcome. Don't mention it.

If they give you the huge wad of cash to walk away, grow your hair long and shaggy, and dress with no fashion sense for the rest of your life beginning 29 September 2007, you lose several "perks" they'd offer you otherwise. These include 180 days of extended medical care for you and your family, a second opportunity to enroll in the Montgomery GI Bill, Non-Appropriated Fund (NAF) Instrumentality hiring preference, and 20 days of Permissive TDY for employment. The first two are huge; the second looks nice-to-have, and the third is just a perk of sticking around (20 days of freedom on the clock).

"But Diana," I can hear you saying, "Are those really worth the huge wad of cash itself?"

Depends on who you are and what you want, really. In my case, an emphatic YES. They are, in fact, worth more to me over time (over $16,500, actually).

I'm an Excel goddess, incidentally (and modest about it), so I played with the numbers this morning. Once one separates the taxable components into annual income then levies the appropriate tax bracket thereon, one gets a better idea of what one stands to actually earn with either scenario.

The VSP would place me comfortably within the 33% tax bracket. With the numbers I'm talking about, 33% differs widely from the 28% and 25% tax brackets I'll be in otherwise.

But wait. There's more.

If they boot me, I qualify to enroll once again in the Montgomery GI Bill. This is the deal of a lifetime. I know because I already used my first one within a day or two of using it up completely. It works like this: I pay them $1200.00 while I'm still active duty (let me just get my purse...), I serve at least 3 years, and I get an honorable discharge. If they separate me involuntarily as an officer and I meet the requirements, I get it. It's worth 36 months of $1075.00 per month. Nontaxable.

That's right. NONTAXABLE.

I plan to go to school anyhow. Getting RIF'd would actually give me more money for school than the VSP, after taxes are figured and GI Bill is added. (And you bet your boots I'll use every penny of it.)

I will stop by the Education office first thing Monday morning to confirm my findings. I got them from the AF Personnel Center FAQs concerning the "force shaping" efforts. They seemed quite unequivocal, but I want to be certain. (The "unforeseen developments" I referred to earlier falls somewhere under "unless there's a hidden clause that I can't get the GI Bill twice." I'm fairly confident that such a rule does not exist, as the AF, the VA and AFPC are normally keen on listing all exceptions to the rules and disqualifying factors.)

The best case scenario would be no RIF and business as usual, of course. But the second best case scenario? I get RIF'd. (And I get the perks of knowing one way or another if I'm good enough to meet whichever standards they're selecting by, whatever they are). Plus, holding out 'til the RIF will put me that much closer to retirement. (Also, if I do somehow manage to retire from either the reserves or active duty, I'll have to repay any separation pay I received, VSP or otherwise; if I'm RIF'd, I'll have far less to repay.)

Medical insurance is incredibly expensive. I don't know how to begin to figure what the extra 10 months of full medical care is worth to me.

Now I can literally sit and wait to see what happens. :D

d