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The Water Cooler
General Discussion
Military Retirement Overhaul: Defined Benefit Plan -> Retirement Savings Accounts
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<blockquote data-quote="Hobbes" data-source="post: 1595938" data-attributes="member: 3371"><p>A sweeping new plan to overhaul the Pentagons 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.</p><p></p><p>In a massive change that could affect todays 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.</p><p></p><p><a href="http://www.airforcetimes.com/news/2011/07/military-dod-panel-calls-for-radical-retirement-overhaul-072511/" target="_blank">http://www.airforcetimes.com/news/2011/07/military-dod-panel-calls-for-radical-retirement-overhaul-072511/</a></p></blockquote><p></p>
[QUOTE="Hobbes, post: 1595938, member: 3371"] A sweeping new plan to overhaul the Pentagons 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 todays 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. [url]http://www.airforcetimes.com/news/2011/07/military-dod-panel-calls-for-radical-retirement-overhaul-072511/[/url] [/QUOTE]
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