Does anyone know if there is updated or proposed legislation on changing the Reserve Retirement Benefits?

COL Mikel J. Burroughs — Mon, 11 May 2015 18:09:06 -0400

I have retired from the US Army after serving a total of 37 years made up of active duty, deployments, the Illinois Army National Guard and the US Army Reserves and will be hitting that magic age of 60 soon. I'm curious if the reserve retirement benefits are up for change or if there is legislation pending to make a change in the near future. Any information from my fellow veterans or reservist on this subject is much appreciated (good or bad)!

Response by GySgt Wayne A. Ekblad made May 11 at 2015 6:12 PM

GySgt Wayne A. Ekblad — Mon, 11 May 2015 18:12:38 -0400

Last I heard, the legislation was still pending.

Response by MAJ Private RallyPoint Member made May 11 at 2015 7:01 PM

MAJ Private RallyPoint Member — Mon, 11 May 2015 19:01:42 -0400

There are always several bills in the process, I think there are four right now, most will never see the floor. Most of the bills seem to be pushing for a 401K benefit at reduction in pension. The only thing I'm sure on is that not much will happen in the next two years.

Response by COL Charles Williams made May 11 at 2015 8:25 PM

COL Charles Williams — Mon, 11 May 2015 20:25:58 -0400

Yes, this is an active process right now, but no changes or decisions have been made. The Congress/Army (DOD) wants to go to a 401k style retirement, with provisions for early retirements. Last I heard 20 years would drop to 40%. But, this will be all for the future. As always, so they say, those already serving or retired will be grandfathered. The are articles posted weekly on this.

http://www.militarytimes.com/story/military/benefits/retirement/2015/04/27/retirement-overhaul-concerns/26244915/

Military retirement overhaul on fast track

Congress is moving ahead with an end to the current all-or-nothing system, but critics want the process slowed down.

Response by SFC William Farrell made May 11 at 2015 10:30 PM

SFC William Farrell — Mon, 11 May 2015 22:30:17 -0400

Improving in them I am sure Colonel! I only retired as an E7 after four on active and 22 in the reserves. I can't complain much about my pay as I was getting paid well for going to meetings and admin drills along with extra overseas summer camps. The main reason i didnt go any higher in rank, I was enjoying the overseas trips more than going to any NCO schooling. It was a good run.

I live two miles form Naval Station Newport where I also retired as an Air Force civilian so I use the PX and commissary all the time. Some nice saving at the commissary but you need to be a smart shopper at the PX which i am not. My only regret now is that I should have went your route and I'd be really making the big bucks now! :-)