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.
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.