KNOW YOUR SEPARATION REQUIREMENTS
Your first step should be connecting with the Transition Assistance Program of your service branch. Here, you'll find detailed information about what's included and how to connect with your service branch's program. Make sure you schedule your pre-separation counseling no fewer than 90 days before separation. Arrange your final medical exam. Attend an employment workshop. Give yourself time when scheduling your final move.
PLAN YOUR POST-RETIREMENT BUDGET
Review your military retirement pay, benefits and expenses to plan your budget and calculate what you'll have each month, including your monthly retirement pay. Remember that federal and state taxes will be withheld from your retirement, and just like your active-duty pay, your retirement pay adjusts annually based on cost of living to protect your income against inflation. Find out if you qualify for the one-time lump sum payment for Disability Severance Pay by visiting the Defense Finance and Accounting Service website at dfas.mil/retiredmilitary/plan/separation-payments/disability-severance-pay
LEARN ABOUT THE BENEFITS YOU'VE EARNED
As an active-duty service member, you receive numerous benefits. What happens to them when you retire? It can vary greatly.
Keep your health care: Effective Jan. 1, 2018, you must enroll yourself and eligible family members in TRICARE or risk losing your benefit.
Make your last move count: You have one calendar year from your retirement date to use your last government-paid move anywhere within the U.S. or to your home of record outside the country.
Plan for life insurance: Your Servicemembers Group Life Insurance plan continues uninterrupted for 120 days after separation.
Use your GI Bill: You have up to 10 or 15 years after separation to use your GI Bill (depending on the program).
HELPFUL LINKS
Military Compensation; Basic Pay: This site provides information about military compensation, including paygrades for active-duty and reserve pay, allowances, annual pay adjustments,
TRANSITIONING SERVICE MEMBERS : MUST-DOS FOR SEPARATING
You've made the decision. Now it's time to make the most of it. There's a list of tasks to accomplish, and most of them come with a due date:
DO get your plans in place. Think about your post-military goals and the income you'll need. Start researching how your military experience could translate to a civilian career. Attend the Transition Assistance Program to learn the benefits and resources available to help you and your family prepare for a successful transition.
DO start TAP early. You must complete a mandatory initial counseling session with a transition counselor and complete pre-separation counseling no less than 365 days prior to your separation or retirement date. During TAP, you'll also receive briefings and resources from the Defense Department, the Department of Veterans Affairs and the Department of Labor. For extra assistance in your transition, check out Military OneSource's specialty consultation for transitioning veterans. And remember, you can attend TAP more than once!
DO schedule a final separation health assessment and dental exams. You'll need a mandatory, final medical and dental exam with your installation's medical clinic no later than 90 days before you separate. The SHA may be used to file a VA disability compensation claim.
DO schedule the move of your household goods. The earlier, the better. You'll have one year after leaving active duty to complete your final move. The sooner you can schedule, the better your chances of getting the dates you want.
DO talk to your spouse about participating in the Military Spouse Transition Program and the self-directed MySteP: Stepping Beyond. This program is designed to guide military spouses through the military-to-civilian transition, including post-military benefits, health care, finances and transition training.
Finally: DON'T wait until the last minute. Give yourself plenty of time to complete all the tasks required. You must complete some tasks 365 days before you separate. Also, some benefits have a timeline in which to be used.