16 06, 2015

DOD sends blended retirement proposal to Congress

2015-06-16T00:25:21-07:00June 16th, 2015|Categories: Pension Reform|Tags: , |

A Defense Department proposal submitted to Congress Wednesday would create what Pentagon officials called a “blended defined benefit and defined contribution” military retirement system. Pentagon spokesman Army Col. Steve Warren told reporters that the proposal includes elements the department believes are necessary to promote retention, to maintain the all-volunteer force, and to protect service members who retire due to disability. […]

7 03, 2014

Pentagon considers 401(k)-like retirement plans

2014-03-11T00:01:01-07:00March 7th, 2014|Categories: 401(k)|Tags: , , |

In a revolutionary shift in how it would compensate retirees, the U.S. Defense Department is considering adopting a 401(k)-like retirement plan and other financial incentives for those who serve less than 20 years, according to a new report. The overhaul would largely preserve the existing system’s pension-style, fixed-income pay. But to offset a reduction of as much as 10 percent in lifetime retirement benefits, the department would offer troops cash payments earlier in their careers, including a 401(k)-style benefit at [...]

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