What is SRB in the Navy?
What is SRB in the Navy?
Selective Reenlistment Bonus (SRB), if eligible (not guaranteed). Opens SRB window to one year prior to EAOS. To be eligibility for a STAR re-enlistment the enlisted member must be on their first enlistment, with more than 21 months active duty and less than 6 years active duty.
How much is the reenlistment bonus?
The current maximum SRB is $25,000 per year or reenlistment, making the maximum SRB payable $100,000 for a 4 year reenlistment. You may qualify for up to 2 SRBs in your military career for a maximum total of $200,000. The bonus is usually paid in a lump sum or 50% paid at the time of reenlistment.
How is Navy reenlistment bonus calculated?
The Navy’s Selective Reenlistment Bonus is calculated by multiplying your basic pay (times) number of SRB eligible months reenlisting for (divided by 12) then multiplied by the SRB award level for your zone.
How many years can you reenlist in the Navy?
Reenlist or voluntarily extend enlistment in the regular component of the Service concerned for a period of at least 3 years, provided the reenlistment or extension, when coupled with existing active service, provides a total period of active duty of at least 14 years. 3.
Does the US Navy need more sailors?
US Navy looks to hire thousands more sailors as service finds itself 9,000 sailors short at sea. The Navy is requesting $33.9 billion in funding for personnel in 2021 — $2.1 billion more than the service requested in 2020.
Do you have to pay back your military bonus?
Refunding a Bonus – Paying Back Your Bonus You may owe a prorated refund to the government if you are unable to fulfill the terms of your contract. This will be based on the amount of money you have received and how much time remains on your contract.
How long until I get my reenlistment bonus?
30 days
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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