Not technically. You can be recalled up until you are 60 or 65 I believe. To actually be FREE from the reach of the DOD, you must resign your commission - write the SECDEF.

They recalled guys who had separated from the reserves after 9-11. One guy was retired but in his 50s. I worked (in craphole Djibouti) with a Navy O3 who had been called up to, get this, be the training "guy" for the CRE (Crisis Resp Element) we worked for. The CRE wasnt allowed to go plan and execute missions yet so they had to perform exercises. This O3 had separated 3-4 years prior, and had done a few years in the Navy. He had a 12 month tour to DJ to schedule training events. (One of which resulted in the death of CH53 guys when the BUFF bombed them - not the training guys fault, but evidence that the leadership was pushing too hard to "train" guys waiting to actually go into combat)

As far as BONUS - ARTs may get one also.