Congress on Tuesday approved a broad defense bill that includes an overhaul of the military retirement system. So how – and when – will military members be affected? From the Military Times: Troops will not see any of the retirement changes for two years. New recruits who sign up beginning in October 2017 will automatically … Continue reading Congress Approves Military Retirement Overhaul; Changes Coming in Two Years
A recent Congressional proposal to overhaul the military’s pension system gives troops a big choice: take their normal pension, or receive a large lump-sum payment up front. That choice is a key cog in the proposal, which has already been endorsed by the Pentagon and is likely to become law later this year. There’s just … Continue reading Key Element of Military Pension Reform Remains Unsettled
Pension360 has covered the months-long debate over how to overhaul the U.S. military retirement system. Now, Congress has unveiled a bill to act on Pentagon-endorsed recommendations made last year that include shifting new service members into a 401(k)-style plan and restructuring the retirement system so that more soldiers receive benefits. Details from Government Executive: Under … Continue reading Congress Unveils Deal to Overhaul Military Retirement System
A proposed overhaul of the U.S. military’s pension system, endorsed by the Pentagon last week, has now hit a roadblock. The overhaul was one piece of a much larger military bill that included banning the use of torture. The Senate passed the bill on Thursday, and then threw up an obstacle. From the New York … Continue reading Military Pension Overhaul Hits Snag As Bill Passed, Then Blocked, By Senate
The Pentagon for months has held off on taking an official position on the proposed military retirement overhaul, which would change the structure of benefit payouts and introduce some 401(k) components to the system. On Wednesday the Pentagon announced its official endorsement of the overhaul, paving the way for the reforms’ likely implementation. From the … Continue reading Pentagon Officially Backs Military Retirement Overhaul
An overhaul of the U.S. military’s retirement system is gaining momentum and seems likely to eventually clear the House and Senate. The details of the overhaul can be read here; but the proposal centers around a shift to a 401(k)-style system. But if the overhaul passes, it could force career troops to make some tough … Continue reading Will Military Pension Overhaul Help or Hurt Career Troops?
In January, a government panel made a series of recommendations for overhauling the U.S. military retirement system, including a shift from a defined-benefit system to a 401(k)-style system. The House of Representatives Armed Services Committee last month backed a version of the proposal; now, the overhaul is moving forward as a Senate committee has thrown … Continue reading Military Pension Overhaul Moves Forward As Senate Committee Backs Plan
Pension360 has closely covered the proposed overhaul of the military’s retirement system, including a shift from a defined-benefit plan to a 401(k)-style plan. The State this week interviewed a half-dozen retired military officials, who expressed several concerns about the overhaul but also noted that the current system may not be economically viable. One official said … Continue reading Former Military Officials Weigh In On Pros, Cons of Pension Overhaul
In January, a government panel made a series of recommendations for overhauling the U.S. military retirement system. This week, House lawmakers say they will release a defense budget that includes many of those recommendations, including a shift from a defined-benefit system to a hybrid system with qualities of a 401(k). From Stars and Stripes: A … Continue reading House Committee Backs Military Pension Overhaul, Including Switch to Hybrid Plan
Last month, the Military Compensation and Retirement Modernization Commission released a long-awaited report containing a series of policy proposals designed to decrease the cost of military benefits, including retirement benefits. One of the more controversial proposals: the phase-out of the military’s current defined-benefit plan in favor of a hybrid plan that features characteristics of a … Continue reading Pentagon Probes for Details on Proposed Military Retirement Overhaul
