ADMINISTRATIVE MESSAGE
 
ROUTINE       
 
R 291920Z SEP 03 ZYB MIN PSN 924093J27
 
FM CNO WASHINGTON DC//N1//
 
TO NAVADMIN
 
UNCLAS //N07000//
NAVADMIN 262/03
 
MSGID/GENADMIN/CNO WASHINGTON DC/N1/-/SEP//
 
SUBJ/SECOND OPPORTUNITY TO ELECT THE CAREER STATUS BONUS AND REDUX
/RETIRED PAY SYSTEM//
 
RMKS/1.  NEW LEGISLATION HAS PROVIDED A LIMITED SECOND OPPORTUNITY
TO RECEIVE THE CAREER STATUS BONUS (CSB) IN INSTALLMENT PAYMENTS TO
ELIGIBLE SERVICE MEMBERS.  BY LAW, ONLY THOSE PERSONNEL NOT
ORIGINALLY OFFERED THE INSTALLMENT PAYMENT OPTION IN THEIR CSB
GENADMIN NOTIFICATION MESSAGES ARE ELIGIBLE.  THIS WINDOW OF
OPPORTUNITY EXPIRES 30 DAYS AFTER RELEASE OF THIS NAVADMIN.
 
2.  ELIGIBILITY IS BASED UPON MEETING ALL OF THE FOLLOWING CRITERIA:
    A.  CURRENTLY SERVING ON ACTIVE DUTY.
    B.  DATE OF INITIAL ENTRY INTO MILITARY/UNIFORMED SERVICE
(DIEMS) IS ON OR AFTER 1 AUG 86.
    C.  COMPLETED 15 YEARS OF ACTIVE DUTY.
    D.  ELIGIBLE TO CONTINUE ON ACTIVE DUTY UNTIL COMPLETION OF 20
YEARS OF ACTIVE DUTY SERVICE IAW NAVADMIN 344/02.
    E.  CSB ELECTION EFFECTIVE DATE FALLS ON OR AFTER 28 DEC 01 AND
NO CSB PAYMENT RECEIVED PRIOR TO 28 DEC 01.
    F. ELIGIBLE TO ELECT THE REDUX RETIRED PAY PROGRAM AND CSB
BETWEEN 28 DEC 01 AND 14 APR 03.
    G.  ACTIVE DUTY START DATE (ADSD) IS BEFORE 15 APR 88.
 
3.  ELIGIBLE MEMBERS HAVE THE CHOICE OF ELECTING THE CSB IN ONE
OF THE FOLLOWING INSTALLMENT PROGRAMS ONLY:
    A.  TWO ANNUAL INSTALLMENTS OF $15,000 EACH
    B.  THREE ANNUAL INSTALLMENTS OF $10,000 EACH
    C.  FOUR ANNUAL INSTALLMENTS OF $7,500 EACH
    D.  FIVE ANNUAL INSTALLMENTS OF $6,000 EACH
 
4.  CSB/REDUX MAY NOT BE THE MOST ADVANTAGEOUS RETIREMENT SYSTEM IN
MOST SITUATIONS.  MEMBERS ARE URGED TO LEARN AS MUCH AS POSSIBLE
ABOUT ALL AVAILABLE RETIREMENT OPTIONS AND TO CONSULT COMMAND
FINANCIAL ADVISOR AND COMMAND CAREER COUNSELOR PRIOR TO MAKING A
DECISION.  UPON ELECTING CSB, MEMBERS ARE OBLIGATED TO REMAIN ON
CONTINUOUS ACTIVE DUTY UNTIL THEIR 20TH ANNIVERSARY AND ARE SUBJECT
TO THE ELIGIBILITY CRITERIA AND RECOUPMENT POLICY DISCUSSED IN
NAVADMIN 344/02.
 
5.  NO ACTION IS REQUIRED IF A MEMBER ELECTED CSB/REDUX AND DESIRES
TO KEEP THE LUMP SUM PAYMENT OR IF A MEMBER ELECTED THE HIGH-3
RETIRED PAY PROGRAM AND WISHES TO REMAIN.  CSB/REDUX ELECTIONS MAY
NOT BE CANCELED AFTER THE 15TH ANNIVERSARY OF ACTIVE DUTY.
 
6.  PROCEDURES AND FORMS FOR ELECTING THE INSTALLMENT OPTION AS PART
OF THIS LIMITED OPPORTUNITY ARE AVAILABLE AT
HTTP:/WWW.PERSNET.NAVY.MIL/PERS33/CSB2NDCH.HTM. ANSWERS TO FREQUENTLY
ASKED QUESTIONS ARE ALSO AVAILABLE AT
WWW.PERSNET.NAVY.MIL/PPAC/CSB.HTML.  ALL COMPLETED DOCUMENTS MUST BE
SUBMITTED TO PERS-333 WITHIN 30 DAYS OF THE RELEASE OF THIS NAVADMIN.
 
7.  POINTS OF CONTACT:
     A.  FOR INDIVIDUAL ELECTION ISSUES:  PERS 333 (DKC BIRK OR PN1
RAINES) AT (901) 874-4974/DSN 882.
     B.  FOR CALCULATION OF CSB LUMP SUM REPAYMENTS:  DFAS (DK1
ROMODEVIVAR) (216) 522-5713/DSN 580.
     C.  FOR TAX POLICY:  DFAS (BETH CERANKOWSKI) AT (216) 204-4312/
DSN 580.
     D.  FOR TSP IMPLICATIONS: DFAS (DONNA MASTI) AT (216) 522-5915/
DSN 580.
     E.  FOR ANSWERS TO FREQUENTLY ASKED QUESTIONS:
WWW.PERSNET.NAVY.MIL/PPAC/CSB.HTML.
     F.  FOR CSB POLICY: N130G (LCDR O'NEAL) AT (703) 695-3158/DSN
225.
 
8.  RELEASED BY VADM G. L. HOEWING, N1.//
 
BT
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