How Is Navy SRB Paid?
The SRB may be paid in a single lump sum or in annual installments. If paid in installments, the member will receive no less than 50% of the bonus up front with the remaining balance to be paid in equal annual installments.
How are Navy bonuses paid out?
If your bonus is more than $20,000, you can generally expect to receive half upfront (again, upon completion of training), and the remainder spread out among annual installments. The Navy pays out its annual installments on October 1, which is the start of the fiscal year.
Enlistment and Reenlistment Bonus Guide - The Military Wallet
How are reenlistment bonuses paid out?
The bonus is usually paid in a lump sum of 50% paid at the time of reenlistment. The remaining bonus amount is paid in equal annual installments. It is taxable, however if you reeenlist in a tax-free combat zone or are a foreign national who reenlists OCONUS it is not taxable, and the installments are also tax-free.
The Selective Reenlistment Bonus (SRB) - Military.com
The Navy breaks down a 30-year active-duty career into five retention zones. SRB is only offered critical skills in three of those zones -- Zone A, which covers zero to six years, Zone B - six to 10 years and of active service and Zone C – 10 to 14 years of active service.
Navy Announces Initial FY-21 Reenlistment Bonus Levels
How long does it take to get a SRB payment?
The initial payment of your Selective Re-enlistment Bonus (SRB) should take no longer than 30 days from the date of re-enlistment. If, after 30 days, you have not received your payment, you should contact your servicing finance officer, career planner, or admin or personnel office.
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