The Selected Reserve Incentive Program (SRIP) was established to help reduce attrition rates of service members with specialized skills throughout the DoD. Each section of the military has a slightly different incentive program for their Selected Reserves. However, all of the programs follow basically the same rules.
SRIP incentives are usually bonuses that are paid to highly skilled members of the military for remaining or rejoining the Selected Reserves. For a SRIP bonus to be paid there must be a listed shortage in the skill or position. The individual must agree to serve in the Selected Reserves for 3-6 years to get the bonus and must maintain a good drill record and remain in good standing. These bonuses are:
- Prior Service Enlistment Bonus. If you enlisted before and remained in the Selective Reserve in a critical skill capacity you may be eligible for this bonus.
- Reenlistment Bonus for Individual Ready Reserve (IRR) in combat or combat support role for voluntary reenlistment of 3-6 years of service beyond current obligation.
- Student Loan Repayment Program (SLRP). If you have finished college, the military may repay your loans for you if you join the Selected Reserves.
- Reserve Affiliation Bonus. If you have served on active duty in the Army and were then assigned to a Troop Program Unit (TPU) and you are eligible for reenlistment, you may qualify for this bonus. Like the Reenlistment Bonus, this bonus is paid only if there is a shortage in a specialty area.
SRIP bonuses can be very high — $20,000 in some cases. Before you get excited though, you should know that only a very small portion of the Selected Reserves actually receives these bonuses. The code clearly stipulates that there must be a shortage in the specialization and there is also a complex series of approvals for SRIP incentives. However, if you qualify, this is something that should not be overlooked!