Last month, the Military Compensation and Retirement Modernization Commission produced a report that recommended a series of changes to the military’s retirement benefit system. Among the proposals: shrinking retirement pay by about 20 percent, and phasing out the military’s current defined-benefit plan, in favor of a hybrid plan that features characteristics of a 401(k). Another … Continue reading Military Pension Cuts a Tough Sell in Congress
Minnesota is one of six states in the country that fully taxes military benefits. But that could change soon, as two pieces of legislation in the state House seek to exempt some or all of military pensions from taxation. The first, introduced by Rep. Bob Dettmer, would exempt from taxation the first $30,000 of military … Continue reading Minnesota Legislation Would Exempt Military Pensions From Taxes
The Military Compensation and Retirement Modernization Commission has spent the last two years drawing up policy proposals to decrease the cost of military benefits, including retirement benefits. The Commission will make the proposals to Congress on Thursday, but people familiar with the report have already been revealing its contents to the USA Today and the … Continue reading Government Panel Likely to Call For Military Pension Changes
Captain Jane Smith was helping one of her lieutenants in legal assistance with what seemed to be one of the most serious problems she had ever seen — retrieving a “lost” military pension.
Just two months ago, the US Congress voted to decrease cost-of-living-adjustments for 750,000 military pensioners in an effort to save $6.3 billion over 10 years and curb ballooning military benefit expenses. But today, lawmakers reversed course: The US Senate voted overwhelmingly to repeal the cuts, and that vote came on the heels of a similarly … Continue reading Congress backtracks on military pension cuts
Reducing pension benefits is a political minefield, and that sentiment applies two-fold when the benefits in question are for military personnel. But no one sent that memo to House Rep. Paul Ryan (R-WI) or Sen. Patty Murray (D-WA), who last month passed a bi-partisan budget that cuts the annual cost-of-living adjustment (COLA) of military pensions … Continue reading National security insiders overwhelmingly support military pension cuts, according to poll
Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Benefits Canada reports, OMERS enters into infrastructure investment in Chile: Borealis Infrastructure, the infrastructure investment manager of the Ontario Municipal Employees Retirement System, has signed an agreement to acquire a 34.6 per cent stake in … Continue reading A Chilean Love Affair?
Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Everett Rosenfeld of CNBC reports, Donald Trump wins the presidency, hails ‘beautiful and important’ win: Donald John Trump will be the 45th president of the United States, capping a historic and boisterous run by an … Continue reading Will Pensions Make America Great Again?
The US Defense Department created a 3-minute video, which provides information about their new retirement system that is set to take effect in the year 2018. Pension360 has extensively covered the overhaul, which took place in 2015 and early 2016. The newly released video aims to provide a complete financial literacy campaign offer by the … Continue reading Pentagon Released Explainer Video on New Retirement Program After Overhaul
Leo Kolivakis is a blogger, trader and independent senior pension and investment analyst. This post was originally published at Pension Pulse. Susan Smith wrote a special for the Globe and Mail, Canada’s pension safety net is strong but showing strains: Amid all the worry about the boomer bubble, longer lifespans and uncertain economic conditions, it’s comforting … Continue reading Cracks in Canada’s Pension Safety Net?
