Military Retirement Overhaul: Defined Benefit Plan -> Retirement Savings Accounts

[Hobbes]

A sweeping new plan to overhaul the Pentagon’s retirement system would give some benefits to all troops and phase out the 20-year cliff vesting system that has defined military careers for generations.

In a massive change that could affect today’s troops, the plan calls for a corporate-style benefits program that would contribute money to troops’ retirement savings account rather than the promise of a future monthly pension, according to a new proposal from an influential Pentagon advisory board.

http://www.airforcetimes.com/news/2...calls-for-radical-retirement-overhaul-072511/

 

[HMFIC]

Is this a testing the waters for federal retirement plans and possibly even SSI?

 

[Hobbes]

Is this a testing the waters for federal retirement plans and possibly even SSI?

Mmmmm, could be

One thing for sure...

When the last defined benefit retirement plan expires and exhales it last breath, it will belong to a congress critter. for real

 

[Fyrtwuck]

I'm sure they'll build in a way to reach in and help themselves when they want some money and leave the vets hanging.