WASHINGTON (NNS) -- Based on the number of Sailors who have enlisted this year under the selective reenlistment bonus program (SRB), the Navy reached its congressional authority funding limit for this fiscal year.
More than 10,000 Sailors have reenlisted with a reenlistment bonus. Accordingly, the Navy has suspended the SRB program for the remainder of the fiscal year.
SRB requests received by Navy Personnel Command-811 prior to the release of NAVADMIN 176/09 through the Officer Personnel Information System will still be processed. Less than 685 Sailors remain in the eligibility window to reenlist with a SRB this fiscal year.
"The Navy will continue its strong commitment to the SRB program, and it remains a critical component of our overall retention efforts," said Vice Adm. Mark Ferguson, chief of naval personnel. "I want to assure Sailors that the SRB program will continue to be available next fiscal year."
SRB award levels for the next fiscal year for qualifying Sailors in specific ratings and NECs will be announced via NAVADMIN later this summer.
SRB is a dynamic market-based incentive designed to retain those Sailors in the Navy's most critical ratings and NECs.
"This bonus is just one piece of Navy's world-class pay and compensation package, and we will continue to work to maintain and improve this package that sustains our Navy," said Ferguson.
For more news from Chief of Naval Personnel, visit www.navy.mil/local/cnp/.