Posted on 09/19/2011 8:12:18 PM PDT by Crazy ole coot
snip... By far the most contentious proposal circulating in Washington is from a Pentagon advisory panel, the Defense Business Board. It would make the military pension system, a defined benefit plan, more like a 401(k) plan under which the Pentagon would make contributions to a service member’s individual account; contributions by the troops themselves would be optional. Mr. Panetta has said that if adopted, the plan would not apply to current military personnel.
(Excerpt) Read more at nytimes.com ...
the house senate and white house need cuts too.
Well, someone has to sacrifice so the Illegals can get their freebees.....
I have a better idea! Why not cut the retirement benefits of Congress to the quick? They g9ot us here. It’s onl;y fair!
It makes perfect sense.
The military is about the only thing Washington has got right.
It therefore needs to be f - up as soon as possible.
How are the health and pension benefits of military retirees, social welfare? Umm...I would argue my husband earned it, unlike some others.
And just to clarify, I’m talking about illegals and welfare types.
Current retirees will not be affected by this, and not even a homosexual, drag queen or militant lesbian in the age of Obammy will think this “deal” is worth enlisting/reenlisting for no matter how many of his/her/its’ buddies go to sea with him/her/it.
Just one more way to disassemble that nasty old DOD and get AlGore’s long-sought “peace dividend”....
End all retirement benefits for all elected and appointed officials in government. Invite them to purchase their own retirement plans from the MORE than generous salary they take home. End all subsidizing of living outside of their own district - put bunks in one of those massive federal buildings for congresscritters to use when visiting, and forbid them from moving their families outside of their districts.
End vacations, end subsidized health care, end all benefits - they were elected or appointed to the position - they are not employees, but simply those who are serving their country, and well compensated for it. And if this doesn't work, restrict their salaries to be equal to a captain in the army for a congressman, and a colonel for a senator.
The pension was fully prepaid. Since 1984, the services have been required to set aside almost 1/3 of everyone’s base pay to provide for full funding of retirement.
Changing to a 401K system will INCREASE costs.
I earned my military retirement, and it is a small sum of money, about $16,000 a year, not even enough to make my house payment.
Quite right. Only I would not argue - I would insist. He earned every penny and more the hard way.
Even Jon Stewart skewered it.
http://www.thedailyshow.com/watch/tue-march-17-2009/that-can-t-be-right-—veterans—health-insurance
Then he tried to freeze their pay for three years - it got shot down quickly, but he did it for social security - but don't call it a CUT!
My husband, who is disabled completely thanks to two tours in Viet Nam and exposure to AO has more than earned his and I have earned mine in my own right too.
When we both signed on the dotted line, part of the guarantee was that should we serve at least 20 years we would then have earned, with our retirement stipend, military benefits which would include medical care..When my DH was 65, for a short time he could be seen at the Military Treatment Faclity BUT he also had to have the secondary ins which at one time was Health Net and at a different time it was Secure Horizons. Then thanks to Colonel Day, Tricare For Life was put in place and now finally the medical benefit that was promised ( though the wonks in DC claim that was not part of recruitment packages though how could so many of us have heard it so wrong, was put in place. Now if the sacred cows in DC could get away with it they would take it away.
This same govt has fooled with the original retirement program and and now let’s find another way to treat our “heroes” by denying them the medical care that was promised and foul up the retirement pension in the bargain.
With the now in place don’t ask don’t tell removed...it will be interesting to see just who signs on the dotted lines now..
Wait until the govt has to pay for disability for illnesses brought on by behaviour! Stand by for a new round when the cost of STDs and Aids come into focus.
Make it a 401k plan, that the retire can take with them when they get out of the military. Military contributions stop when service stops. Retire can continue to contribute to 491K but not draw benefits until age 65
I am as patriotic as anyone, but I never would have stayed in 20 years unless I got the two things you mentioned. A retirement, and medical benefits. If they take those away, no one will make it a career. It really is about dollars and cents, or “sense,” depending on how you look at it.
they’ll gladly go after the pensions of military personnel... the people, above all others, that deserve a pension...
meanwhile, not one peep about all the money pouring into the local, state, and federal worker pensions. all the ‘public employees’ that made 2-3 times avg salary in HIGHLY stable jobs and retired on 6-figure pension plans.
cut THOSE pensions first... then *maybe* i’d consider looking elsewhere.
“they’ll gladly go after the pensions of military personnel... the people, above all others, that deserve a pension...”
Now we ARE worse than the Third World; in the Third Wrold, the military are the most pampered class of people in the country that they serve in.
I know that I am dreaming but I think that military service should be a prerequisite for high government positions
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