Monday, July 25, 2011

DoD panel calls for radical retirement overhaul

DoD panel calls for radical retirement overhaul - Army News | News from Afghanistan & Iraq - Army Times:

Image via Outside the Beltway

In a massive change that could affect today’s troops, the plan calls for a corporate-style benefits program that would contribute money to troops’ retirement savings account rather than the promise of a future monthly pension, according to a new proposal from an influential Pentagon advisory board.

All troops would receive the yearly retirement contributions, regardless of whether they stay for 20 years. Those contributions might amount to about 16.5 percent of a member’s annual pay and would be deposited into a mandatory version of the Thrift Savings Plan, the military’s existing 401(k)-style account that now does not include government matching contributions.
If we're going to tolerate scumbag politicians sending troops overseas on false pretenses to fight bullshit wars, can we at least not threaten to gut the pensions of the men and women sent into harm's way to fight those wars? 
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