Posted on Oct 6, 2015
New retirement plan. How does everyone feel about it?
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U saw this talked about a while back, but I haven't heard anything on it in close to a year. How do you all feel about the military changing the retirement? Hopefully for those of us that have been in for a bit this won't change for us and we can keep our current plan because I'm eligible in 8 years!
http://www.defense.gov/News-Article-View/Article/621902/dod-leaders-discuss-budget-issues-with-military-family-group
http://www.defense.gov/News-Article-View/Article/621902/dod-leaders-discuss-budget-issues-with-military-family-group
Posted in these groups: 
Benefits
Retirement
Benefits Retirement
Posted 9 y ago
This is a duplicate discussion and the contents have been merged with the original discussion. Click below to see more on this topic...
Pentagon is officially backing a "blended" system that would shrink the size of the current pension by about 20 percent yet supplement that benefit by offering government contributions to individual retirement investment accounts.
The Current Retirement plan does not require Soldiers to invest their own money in order to receive a guaranteed retirement at 20 years. Under the new program Service members will have to take a portion of their pay and invest it toward their retirement with government matching up to a certain percentage.
We currently have the TSP which is an investment opportunity for Soldiers to utilize as an addition to their retirement and can be a valuable investment tool for those not wishing to make a go at the 20 years required for the current 50% pay for the rest of your life retirement.
This will be very good for government finance reduction costs, but in this Soldier's opinion not good for the Service Members who risk their lives without hesitation for their country.
http://www.militarytimes.com/story/military/benefits/retirement/2015/06/10/dod-retirement-plan-details-approved/71011882/
The Current Retirement plan does not require Soldiers to invest their own money in order to receive a guaranteed retirement at 20 years. Under the new program Service members will have to take a portion of their pay and invest it toward their retirement with government matching up to a certain percentage.
We currently have the TSP which is an investment opportunity for Soldiers to utilize as an addition to their retirement and can be a valuable investment tool for those not wishing to make a go at the 20 years required for the current 50% pay for the rest of your life retirement.
This will be very good for government finance reduction costs, but in this Soldier's opinion not good for the Service Members who risk their lives without hesitation for their country.
http://www.militarytimes.com/story/military/benefits/retirement/2015/06/10/dod-retirement-plan-details-approved/71011882/
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