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Peter1469
04-21-2015, 08:29 PM
House panel backs major military retirement overhaul (http://www.militarytimes.com/story/military/capitol-hill/2015/04/21/house-panel-backs-major-military-retirement-overhaul/26127857/)

I don't know how this will play out, but I will be retired next summer.


House lawmakers will back a dramatic overhaul to the military retirement system as part of the fiscal 2016 defense authorization bill, including a 401k-style investment plan and an end to the 20-year, all-or-nothing retirement model.



Plans call for the new retirement system to be in place by October 2017. They come despite concerns of some veterans groups that the commission recommendations won't entice enough troops to stay to or past the 20-year mark.



House Armed Services Committee leaders also will mandate better financial literacy training for troops, improved access to child care on military bases and consolidate the current 30 Reserve component duty statuses to six.

Safety
04-21-2015, 08:33 PM
House panel backs major military retirement overhaul (http://www.militarytimes.com/story/military/capitol-hill/2015/04/21/house-panel-backs-major-military-retirement-overhaul/26127857/)

I don't know how this will play out, but I will be retired next summer.

Too close to an election year, I don't see them making too drastic a change.

Peter1469
04-21-2015, 08:41 PM
They have had similar bills in the past.

Safety
04-21-2015, 08:49 PM
What was the outcome?

Peter1469
04-21-2015, 08:55 PM
What was the outcome?

Not passed. Likely not even brought to the floor.

Changes are needed. They just need to protect people already in the system.

CreepyOldDude
04-22-2015, 12:23 PM
House panel backs major military retirement overhaul (http://www.militarytimes.com/story/military/capitol-hill/2015/04/21/house-panel-backs-major-military-retirement-overhaul/26127857/)

I don't know how this will play out, but I will be retired next summer.

I thought you were older than me? How are you still in?

CreepyOldDude
04-22-2015, 12:24 PM
Not passed. Likely not even brought to the floor.

Changes are needed. They just need to protect people already in the system.

If it ever passes, there will be grandfather clauses for those who are already in and remotely close to retirement.

Peter1469
04-22-2015, 04:25 PM
I thought you were older than me? How are you still in?

I am not that old. 24 years combined active, national guard, reserves. I have to go through next year to retire at my current rank.

Peter1469
04-22-2015, 04:26 PM
If it ever passes, there will be grandfather clauses for those who are already in and remotely close to retirement.

Hopefully. There are lots of terrified officers running around the Pentagon these days.