Vet News: Some Soldiers Eligible for MGIB Benefits Transfer
WASHINGTON, July 21, 2006 -– The Army announced today the implementation of a pilot program allowing Soldiers in critical skills who reenlist the ability to transfer Montgomery GI Bill benefits to their spouse.
Enlisted Soldiers who have completed at least six years of service, reenlist for a minimum of four years, qualify for a Selective Reenlistment Bonus (SRB), and are entitled to a Zone B or Zone C bonus will have the option to transfer up to 18 of 36 months of their MGIB entitlement. Soldiers can choose between a full SRB or a slightly reduced SRB plus the ability to transfer more than $18,000 in benefits.
The fiscal 2006 basic MGIB monthly benefit for fulltime training is currently $1,034. This benefit is also available but prorated for part-time enrollment.
Soldiers who elected the Army College Fund (ACF) as an enlistment option and/or have enrolled and paid toward the $600 MGIB Additional Opportunity can include their expanded benefit (MGIB, ACF and MGIB Additional Opportunity) in the transferability program.
The Army will study the results of the program with the possibility of making it a permanent part of the Army’s reenlistment policies.
“The Army continues to focus on and provide support to Soldiers’ families because it is the right thing to do, and because we know that we recruit Soldiers, but retain families,” said Maj. Gen. Sean Byrne, director of Army Military Personnel Management.
Education benefits are a key component of the incentive package used by the Army to attract and retain quality Soldiers. At the foundation of these benefits is the MGIB. The transferability of MGIB benefits is an additional lever being used to retain Soldiers with critical skills.
Soldiers interested in participating in the program should visit their Army retention career counselor for information.
SOURCE: VNIS
