3 02, 2015

Panel would offer troops earlier retirement, 401(k)s

2015-02-03T21:58:55-08:00February 3rd, 2015|Categories: Retirement|Tags: , |

A detailed proposal to revamp military retirement that was sent to Capitol Hill would shrink the size of future troops’ pensions and end the 20-year, all-or-nothing aspect of the current benefits package by starting 401(k)-style investment funds with government contributions for lower-ranking troops. After a two-year study, the Military Compensation and Retirement Modernization Commission on Jan. 29 publicly unveiled 15 major recommendations that would give individual troops far more control over shaping and managing their own retirement packages. [...]

29 01, 2015

Panel will propose new military retirement system

2015-01-29T21:52:14-08:00January 29th, 2015|Categories: Retirement|Tags: |

The long-awaited report on military compensation set to drop Thursday will propose fundamental changes to military retirement and health care benefits, according to several people familiar with the report. The Military Compensation and Retirement Modernization Commission will propose detailed legislation to phase out the current 20-year cliff-vesting pension payable immediately upon leaving service, according to people who have been briefed on the report but requested anonymity before discussing its recommendations. […]

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