As an active duty military member I just shake my head....and wonder how the hell anyone voted for this current administration. Congrats to all of you who voted for Barry O. The worst "commander in chief" in the history of our country.
I'm curious when they are going to allow men to grow their hair long and wear earrings. If woman troops/military can do it, why can't men? If woman troops can wear skirts, why not the men? They just did away with the military pension (effective 2018). The military will be a shit show within the next 15-20 years. If it were up to the Left, they'd turn the Pentagon into the world's largest gay club. But yeah.....Hillary is a better option than Donald Trump. Unbelievable.
What does coachCB mean by they did away with military pensions in 2018? I knew they revamped them at the start of the year but nothing that drastic.
http://www.militarytimes.com/story/...e-bill-military-retirement-overhaul/76302160/
This? Surprised there wasn't more news about it.
It is for new enlisted members, it doesn't give you the 20 year pension but it seems like it allows for more private savings and investment along the way so that people who don't do the full 20 years leave the service with more money.
It is basically partial-privatization from what I'm reading, which IMO is a very good thing. But I only read a little bit on it and don't know all the details.
It starts in 2018.
Starting in 2018, newly enlisted troops will no longer have the traditional 20-year, all-or-nothing retirement plan. Under the changes, it will be replaced with a blended pension and investment system, featuring automatic contributions to troops' Thrift Savings Plans and an opportunity for government matches to personal contributions.
The new system is expected to give roughly four in five service members some sort of retirement benefit when they leave the military, as opposed to the current system which benefits only one in five.
I get what you are saying in that many won't have an incentive to continue when they get to a certain point, but what about the members who don't do the full 20? The vast majority of them will walk away better than when they would otherwise. And really that is the group that is struggling the most when they leave the military, that cushion could help some of them a lot.
Granted others will be young and dumb like any other civilian and just spend it, but on balance the plan does seem to beef up the security of those who are in for 8-12 years range. I'd imagine the percent of enlistees that goes over 10 years is under 10% no?
Also it isn't just the 5% matching TSP, there is still partial-pension, which I would think is still significant isn't it?