WASHINGTON (NNS) -- The Navy announced guidance for eligible Sailors separating due to the Enlisted Retention Board (ERB) on applying for early retirement in NAVADMIN 140/12, released April 24.
The message outlines eligibility, detailed application procedures and deadlines for Sailors who are eligible to apply for voluntary early retirement under Temporary Early Retirement Authority (TERA).
Sailors must submit their applications to Navy Personnel Command (NPC) no later than June 15, 2012, and may check the status of their application through www.bol.navy.mil.
Only Sailors considered but not selected for retention by the Fiscal Year 2012 ERB who will have completed at least 15 years of active service as of Sept. 1, and whose active duty service date (ADSD) is Sept. 2, 1997 or earlier, are eligible for early retirement benefits under TERA. Eligibility requirements will not be waived.
Sailors who are eligible for early retirement under TERA must retire no later than Sept. 1, 2012. However, eligible Sailors who may be required to remain on active duty beyond Sept. 1 on operational waivers or to complete augmentee tour requirements will have their requested retirement date addressed on a case-by-case basis. TERA-eligible ERB sailors who complete 15 years of service prior to Sept. 1 may request an earlier retirement date (June 30, July 31, or Aug. 31); however, approval of retirement dates prior to Aug. 31 is dependent on notification from the Office of the Secretary of Defense that Defense Finance and Accounting Services (DFAS) has a process in place to begin providing TERA retirement payments.
Eligible Sailors desiring to apply for early retirement under TERA, whose current expiration of active obligated service (EAOS) as extended, or "soft" EAOS, is prior to Sept. 1, may submit a short term extension request to NPC, as outlined in the NAVADMIN.
Sailors retiring under TERA will not be entitled to involuntary separation pay, but remain qualified for other ERB-related transition assistance benefits until their retirement. As stated in the NAVADMIN, Sailors are not eligible to transfer GI bill benefits once a TERA application is approved.
Sailors are strongly encouraged to consult with career counselors on the Survivor Benefit Plan (SBP), which may provide a portion of retired pay in an annuity payment to surviving eligible beneficiaries. Sailors must sign up for SBP at the time of retirement.
Eligible ERB Sailors who were discharged on or after Dec. 31, 2011, and were unable to complete an application for early retirement under TERA while on active duty may petition the Board for Correction of Naval Records if retirement is desired.
For more information, read NAVADMIN 140/12, visit NPC's transition assistance Web page at http://www.public.navy.mil/bupers-npc/boards/ERB/Pages/TransitionInfo.aspx, or contact the NPC customer service center at CSCmailbox@navy.mil or 1-866-U-ASK-NPC.
For more news from Chief of Naval Personnel, visit www.navy.mil/local/cnp/.