The Navy is suspending its Selective Reenlistment Bonus program for the remainder of the fiscal year, according to a Navy message released Thursday by Chief of Naval Personnel Vice Adm. Mark Ferguson.

Higher retention and funding limits are cited as reasons for the move.

According to the message, the SRB program is a force-shaping tool designed to help retain sailors in the Navy’s most critical ratings.

Last month, sailors in the nuclear power field were receiving bonuses up to $90,000 for six-year re-enlistments. However, the Navy has already achieved its fiscal-year retention goals for first-term sailors in nuclear ratings — a feat that hasn’t been achieved in 38 years.

Similarly, the message indicated that hard-to-fill expeditionary ratings are tracking above predicted goals for the year.

Ferguson said in the message that the Navy is at the limit of its congressional mandate for SRBs.

Bonus requests that were received before June 10 will be processed, Navy officials said. Navy officials have indicated that they will begin accepting new SRB requests early in fiscal 2010.

A subsequent message will be released indicating specific rating eligibility as well as future SRB award levels, the message said.

Sign Up for Daily Headlines

Sign up to receive a daily email of today's top military news stories from Stars and Stripes and top news outlets from around the world.

Sign Up Now