In Army, majority of officers who seek premature retirement are in the rank of Colonel and Lieutenant Colonel. Criteria for acceptance of requests from.Benefit reduction for early retirement. Other lifetime options provide for payments to surviving beneficiary. The Army has ended the Temporary Early Retirement Authority (TERA) program. Once certified under the rule, the new Florida Bar member must complete the basic skills requirement in. To be eligible for retirement a military member must have completed 20 years or more of service. Children of service members or veterans who are severely injured and medically discharged or retired, for one year after discharge or retirement. An officer granted PC is expected to serve till he or she attains the age of superannuation. Additional relief may be available to affected taxpayers who participate in a retirement plan or individual retirement arrangement (IRA).