NukeWorker Forum
Career Path => Navy Nuke => Navy:Staying In => Topic started by: nukeET1 on Oct 22, 2004, 08:48
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This is not really a question but a statement.
I just went to a GMT on the new zone C and possible zone D bonuses.
For those who do not know what this is, Zone C is from 10-16 years and zone D is 16-20 years.
Apparantly zone C is about to be approved to run the cap of reenlistment up to $100,000. That is right 100K!!! This is an unreal amount of money. They are pretty much targeting people that are getting out at their 10-12 year point.
They are talking a bonus type scenerio for people from 16-20 years. Each year about 12-15k but that is not approved.
Of course all of this is for 5-6 years of enlistment depending on your rank/rate. Some NEC's cannot max out such as some surface rates.
This is a big carrot for those like myself with 33 days left until TLV. Speaking of which, anyone know of any good job openings :) I have been to alot of power plant websites, applied and have a few interviews set up, but I am keeping my options open. This is unreal at how many jobs are available to ex-Navy Nukes.
Just figured I would let a few old timer nukes respond to 100K :)
(As a side note, I thought when I said about 5 years ago unless the bonus went up to 100k I would never reenlist again. HMMMM maybe I meant 200k?)
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$100K over 6 years, plus your whopping military monthly pay, divided by your hours while at sea= approximately $4.00 an hour!
Oh yeah, I forgot benifits= $4.03 an hour!
Can't put a price on being available for things like your first child being born!
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If it's anything like the bonuses were in my time, you'll only see $35k the first year after taxes. The rest will be paid out at$20k per year, or $16k after taxes.
Considering that I got my "$20k" in 1982, I figure that your buying power with that $35k will be less than what I could buy with the $8000 check I got.
Check into the tax code to see if income averaging is still available. If it isn't, you're going to give the government back a bigger chunk than they give you, because you'll be in the 33% federal tax bracket, and a correspondingly high state tax.
The real ripoff is if they withhold Social Security taxes. Although all your lifetime income is used to calculate your retirement benefit, that one year will barely be a blip on the radar because the formula heavily weights the later years in averaging your earnings. So, you'll pay a huge stack of cash to Social Security which will likely not increase your benefit at all since you will probably be at the max anyway.
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If it's anything like the bonuses were in my time, you'll only see $35k the first year after taxes. The rest will be paid out at$20k per year, or $16k after taxes.
I got my bonus for reenlisting in a designated combate zone (the Red Sea) in 1992. Later, the IRS decided ALL my anniversary payments would be tax-free!
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kewl
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It's easy to sign on for that money, but if your already thinking about getting out there must be reasons. I know mine and the money will not change those reasons. The Navy is throwing money at some of their problems so that they don't have to deal with them. My opinion is that I don't regret anything from my naval career, I love what the Navy was able to give me, but it is time to move on to new challenges. I would prefer ones that can actually be solved.
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I agree. There is only so much money can fix. I love every bit of experience and education the Navy has provided me, but I am looking forward to getting out. See you all in the civilian side soon!!!!
Nukeet1
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I got out in 83 after 6. I've probably averaged !00K/year in the last 21 years, and have been able to do what I want to. One 100K bonus doesn't make up for all the BS. On my last check for 2 weeks, I think I paid more taxes then an E1 Nuke gets in a month. Yet some will still be coerced into signing on the line.
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A few of us arent in it for JUST the money. I like what I do, reguardless if it puts me in a lower tax bracket...
-EM2 O'D
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Wait 'til you get to a ship to say that SPU! :)
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Wait 'til you get to a ship to say that SPU! :)
LMAO
I will take the 100k at 10.
I have advanced pretty fast (CPO in 7).
I will retire at 40 and say goodbye to NP.
A nuke with a history degree, go figure...
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Wait 'til you get to a ship to say that SPU! :)
Yup, you said it. We had a guy show up to the boat, immediately reenlisted, deployed 2 weeks later for 6 months. He hated it after 3 months and wish he never reenlisted.
100k is nice and they are about 5 years to late though. Over a 6 year period on the outside you could double that figure. I liked what did in the Navy also but I really got tired of being treated like a child when I was 30 years old. That and I could double my income if I left the Navy.