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The 15-year early retirement for Navy was a retirement option for voluntary separation for those who had completed 15 years of service in the US Navy. Although the scheme was discontinued in 2001, members who signed up before the program ended continue to receive annual payments as agreed at the time of voluntary separation.
This was short-term program to help the armed services reduce its size. Selected personnel with 15 to 20 years of service were eligible for this program. All those who took the initiative to retire under the 15-year early retirement for Navy received full retirement benefits but a somewhat smaller monthly payment, which was dependent on the total years of service.
Through approval by the Department of Defense, commanders with at least two years time in grade, lieutenant commanders passed over for promotion, senior chief and master chief petty officers in 61 overmanned rations were eligible to this voluntary separation.
As a matter of policy and under usual circumstances, the US Navy allowed lieutenant commanders, who twice or more failed of selection, to continue serving on active duty until they become eligible for retirement after 20 years of mandatory service. This early and voluntary retirement program allowed the Navy to reduce its strength substantially.
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The frequently asked question is can disabled people get an early retirement pension? This is a question that needs to be answered especially if you are one of those who have suffered a disability after being healthy for so long. 
