Posted on Feb 2, 2017
COL Charles Williams
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COL John McClellan
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Edited 5 y ago
Glad we're out, Chuck!
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COL John McClellan
COL John McClellan
5 y
CPT (Join to see) - That's a separate piece CPT, the piece about VA Disability. But the new retirement system also lowers the "defined benefit" and introduces a "defined contribution" process a la civilian 401k. Thanks - aware of both -- will consider my next move!
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CPT Military Police
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COL John McClellan - Yes Sir, you're correct. It's important we look at both parts in making our decisions. I shouldn't have called it a "summary" It might make it confusing to some. I think we need to share as much information as possible about these issues not just to new recruits but also to those already serving and in retirement, so they can make the best choices possible. On a separate note it's unfortunate that these changes will cause us to lose some of our best and brightest. I know of a HS Senior that turned down a full ride to Annapolis because of these changes as well as others.
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COL John McClellan
COL John McClellan
5 y
CPT (Join to see) - The military/DoD are in a tough spot but I dislike the influence that the civilian Advisory board has reportedly had on this issue. Personnel costs are always the highest in any organization, and ours have been flirting with .50/every $1 now for some time, and I think eclipsed that now. The goal of extending the pension system to SM that stay less than 20 years is a good one as well, so creating a hybrid system between define benefits v. defined contributions was I suppose the only way to accomplish all this... but I came in under the "old" system and I'm glad I exited before this change happened!
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COL Charles Williams
COL Charles Williams
5 y
Thank you
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CPT Military Police
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SFC Renny Lutz
SFC Renny Lutz
5 y
You beat me to it sir. I was just going to point him to the same article. Thanks!
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COL Charles Williams
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CPT Military Police
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COL Charles Williams - You're welcome
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CAPT Kevin B.
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It's in line with the Civil Service retirement. The big kicker is the first 5% you invest in yourself gets 100% profit (matched) every payday. Try to find that somewhere else. Have a TSP horizon plan going and after a career, that piece will be 1/3rd of a tidy retirement. Your other pieces will be the annuity and something else you did after MIL life. Don't count on Social Security to live on. The hardest part is getting kids whose frontal lobe hasn't activated yet to understand they won't be vigorous and healthy forever, hence should work on a retirement from day one.
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COL Charles Williams
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