If the service member dies before his retirement time will the accumulated monies go to his designated heirs?
First let’s cut the size of the government and the handouts like welfare, Obamacare, etc.
Especially handouts to illegals.
Then cut the handouts to nations that spit on us.
Then the salaries and retirement of civilian government employees.
Then the idiotic research grants like a government funded study on “the link between cocaine and the mating habits of quail”
Top ten: Government spending at its stupidest
http://dailycaller.com/2011/12/20/top-ten-government-spending-at-its-stupidest/
30 Stupid Things The Government Is Spending Money On
http://mrconservative.com/2012/03/2471-30-government-waste-projects/2/
20 Ridiculous Ways the Government Wasted Your Money
http://mic.com/articles/76985/20-ridiculous-ways-the-government-wasted-your-money-in-2013
This is not totally bad. There are definitely advantages to this. It will like hurt long term retention, but might strengthen mid-term retention. I may well have gotten out at the 8-10 year point if something like this was in place. However, in hindsight, I’m glad it wasn’t.
This just figures. This government shows no respect for our soldiers and legal citizens. Why wouldn’t they degrade them to that fake retirement scam called the 401k? That was never designed to be a real retirement plan. But rather, a tax shelter for risking money to ‘add’ to retirement. What a crock.
One of the reasons our honorable soldiers ‘stay’ in the military once they join is so they can reach the magic number of years to retire and take care of their families.
This degrading of military benefits is very sad and troubling. Just like the horrendous treatment this Government and it’s colleges have been dishing out to those brave souls who risk their lives to protect us.
They don't pay servicemen enough to contribute to 401K's. As a general rule enlisted men live paycheck to paycheck and now they want to rob them of that to pay for their own retirement.
The military is the lowest paid form of government employment and now they want to give them the lowest paid form of retirement benefits.
One of the factors of the current retirement plan is that those who retire at 20 years can be recalled to active duty at the convenience of the government. Will that provision be eliminated? I had a great uncle who was recalled to active duty during WWII after retiring at 29 years. And I know a couple of friends who retired at 20 years who were recalled to active duty after the invasion in Iraq because of their language specialties.
Man. The Congress sure does worry a lot about military retirement.
I haven’t seen anything that says the military retirement system is running out of money. I have seen a lot about how social security is busted.
I would guess that there are fewer people retiring from the military these days. But there are increasing numbers of people drawing social security and food stamps.
Why, it’s almost like Congress wants to get their hands on that military retirement money to use it to buy votes.
Can I assume retirees under this new system will have Social Security benefits at age 66?
But here's the thing. Most private/government pension plans also require at least 25 years of service. The military should require the same. That would seem like a reasonable trade-off.
Check this one out.
Dear Congress: You are evidently not smart enough to figure out how to solve our budget problems.
Here is how you do it.
1. Seal the borders.
2. Get rid of useless rules, laws and regulations that stifle the American private sector.
3. Do everything possible to make our American private sector stronger than any other nation’s private sector.
4. As private sector jobs increase, the amount of tax revenue coming to the government will increase. This will help pay budget debt/deficit.
5. Layoff government employees so they can take private sector jobs. This will reduce the budget.
6. Reducing the federal budget will mean less taxes on the private sector which will allow them to hire more employees.
7. This will provide more income to the government which can then layoff more government employees and reduce taxes on the private sector.
8. No one said to dump poison or hire children or throw workers into machinery.
9. Repeat as necessary.
People are making money. Government balances budget.
How hard is that to understand?
Active Duty ping.
This is stupid beyond belief. What enlisted person is going to want to remain in the military? Crappy pay. Having to move all the time. The one good thing was the retirement. They will spend much more money having to train new recruits.
I honestly don’t think investing in a market as manipulated and regulated as the US stock market is necessarily a good idea. Not that the government is a better idea. Odds are the Federal government will be unable to pay its dept without massive inflation in the next 25 years anyway, so long term investment is shaky to start with.
You want a solid retirement invested in having many children who can hold jobs.